Preview Questions Fraud Analyst | Role Specific Skill

Question 1: In fraud analysis, why is it important to use a multi-faceted approach to risk identification?

Which action should you take?

Choose only one option

To account for various risk indicators from different sources

To reduce the complexity of the detection process

To minimize the role of machine learning models

To limit the analysis to only one data point

Question 2: What is the most critical factor when identifying suspicious patterns in the financial activities of a client?

Which action should you take?

Choose only one option

Client's geographical location

Unusual timing and frequency of transactions

Client's credit score

Client's account balance

Question 3: In reporting fraud findings to stakeholders, which of the following is most critical?

Which action should you take?

Choose only one option

Summary of customer complaints

Historical trends of fraudulent activities

Financial impact of the fraud

Clear documentation of the fraud investigation process

Question 4: Which regulation governs the cross-border transfer of personal data within the European Union and between other countries?

Which action should you take?

Choose only one option

GDPR (General Data Protection Regulation)

Basel III

AML Act

MiFID II (Markets in Financial Instruments Directive)

Question 5: In an investigation involving multiple fraudulent accounts, which investigative technique is typically used to link the accounts?

Which action should you take?

Choose only one option

Direct interviews with suspected individuals

Reviewing customer transaction history

Data mining for hidden patterns

Random audits of account transactions

Question 6: Under the General Data Protection Regulation (GDPR), what is the requirement for fraud analysts to ensure the privacy of personal data during fraud investigations?

Which action should you take?

Choose only one option

Fraud detection should be conducted without any user notification

All data can be retained indefinitely for fraud detection purposes

Personal data must be processed lawfully, fairly, and transparently

Fraud investigation data can be shared with third parties without consent