Preview Questions Compliance Officer | Role Specific Skill

Question 1: How can compliance officers detect layering activities in money laundering schemes?

Which action should you take?

Choose only one option

By monitoring transactions linked to high-risk countries

By analyzing changes in account ownership

By identifying complex financial transactions

By tracking large cash deposits

Question 2: What is a key feature of the European Union's Payment Services Directive (PSD2)?

Which action should you take?

Choose only one option

Mandating open banking for account access

Restricting non-European payment providers

Introducing mandatory transaction limits

Enhancing capital adequacy requirements

Question 3: Which section of the Banking Regulation Act governs the licensing of banks in India?

Which action should you take?

Choose only one option

Section 41

Section 22

Section 33

Section 12

Question 4: What is the primary function of the Monetary Authority of Singapore (MAS) Notice 626?

Which action should you take?

Choose only one option

Restrict foreign investments in banking

Enhance consumer protection laws

Mandate anti-money laundering practices

Define capital adequacy requirements

Question 5: Under U.K.'s SM&CR (Senior Managers and Certification Regime), what is the duty of senior managers?

Which action should you take?

Choose only one option

Conduct regular financial audits

Ensure reasonable steps are taken to prevent breaches

Train staff on compliance matters

Establish personal liability for organizational risks

Question 6: What is a critical component of creating effective dashboards for compliance reporting?

Which action should you take?

Choose only one option

Static performance indicators

Limited access control

Historical data summaries

Real-time data integration