Preview Questions Documentation Specialist | Role Specific Skill

Question 1: In a document management system for a BFSI organization, what type of metadata should be stored to ensure compliance with regulatory requirements?

Which action should you take?

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Document content and last modified date

Document type, date created, author, and version number

Only document content with no metadata

Document title and description

Question 2: What is the minimum retention period required for financial documents under the Dodd-Frank Act in the BFSI sector?

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7 years

3 years

5 years

10 years

Question 3: In the context of regulatory compliance in BFSI, which document retention system would best support the long-term storage of transactional records while ensuring quick retrieval?

Which action should you take?

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Store records in unstructured formats for easier searching

Distributed database systems with cloud storage and redundancy

Use manual filing cabinets and ensure physical security

Archive all records in a centralized but unbacked up system

Question 4: How would you ensure that a BFSI institution complies with the Financial Action Task Force (FATF) recommendations regarding record-keeping of cross-border transactions?

Which action should you take?

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Discard transaction records immediately after completion

Rely on third-party verification for compliance without internal audits

Maintain detailed records and conduct periodic audits of transaction history

Allow customers to handle cross-border transactions without documentation

Question 5: Which strategy is best for managing multiple versions of a financial record within a BFSI document management system?

Which action should you take?

Choose only one option

Avoid using version control and only rely on manual tracking

Keep only the most recent version of the document

Implement version control with clear tracking of changes

Store all versions in separate folders

Question 6: Which method is most efficient when archiving outdated but important financial reports in the BFSI industry while ensuring quick retrieval when needed?

Which action should you take?

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Use cloud storage with indexing capabilities

Use tape backups for long-term storage

Use paper shredding for document destruction

File documents physically without indexes