Preview Questions Compliance Officer | Role Specific Skill

Question 1: What type of risk does the ISO 31000 standard primarily address?

Which action should you take?

Choose only one option

Credit risk

Market risk

Compliance risk

All types of risks affecting organizational objectives

Question 2: financial institutions are required to report foreign accounts exceeding a specific threshold. What is this threshold for individual accounts?

Which action should you take?

Choose only one option

? 1,00,000

? 5,00,000

? 2,00,000

? 50,000

Question 3: In a financial crime investigation, why is it important to maintain confidentiality of the subjects under review?

Which action should you take?

Choose only one option

To ensure smooth internal collaboration

To avoid tipping off external parties

To comply with legal and ethical guidelines

To protect the institution's reputation

Question 4: Under the Solvency II framework, which of the following is considered a pillar of insurance company regulation?

Which action should you take?

Choose only one option

Operational Risk Controls

Internal Ratings Systems

Market Discipline

Liquidity Management

Question 5: How can a Compliance Officer use data analytics to identify suspicious behavior in a client's financial activities?

Which action should you take?

Choose only one option

By reviewing public financial news related to the client

By applying machine learning models to detect patterns in transactions

By comparing client complaints to internal employee records

By conducting surveys about customer service quality

Question 6: Which regulation governs the handling of customer information by financial institutions in the USA?

Which action should you take?

Choose only one option

Gramm-Leach-Bliley Act (GLBA)

Dodd-Frank Act

Sarbanes-Oxley Act

Fair Credit Reporting Act