Preview Questions Compliance Officer | Role Specific Skill

Question 1: How can compliance officers detect potential collusion between employees and customers?

Which action should you take?

Choose only one option

Conduct frequent internal and external audits

Review deviations from expected customer behavior

Analyze transactional velocity

Implement whistleblower programs

Question 2: Which of the following is the primary purpose of the SAR (Suspicious Activity Report) in the context of financial compliance?

Which action should you take?

Choose only one option

To report suspected money laundering or fraud activities

To assess the creditworthiness of clients

To identify market manipulation risks

To track financial transactions for tax reporting

Question 3: Which law governs anti-competitive practices in India?

Which action should you take?

Choose only one option

FEMA

Companies Act

SEBI Act

Competition Act

Question 4: What is the primary function of the Basel III framework in regulatory compliance?

Which action should you take?

Choose only one option

Enhance financial institution stability

Prevent money laundering

Reduce operational risks

Limit risky lending

Question 5: What is the role of regulatory technology (RegTech) in enhancing investigative processes in BFSI institutions?

Which action should you take?

Choose only one option

Tracks employee adherence to policies

Simplifies risk management processes

Automates fraud detection processes

Ensures compliance training

Question 6: What is required by the Payment Card Industry Data Security Standard (PCI DSS) for handling credit card information?

Which action should you take?

Choose only one option

Implement strong encryption measures to protect cardholder data

Allow free access to cardholder data for internal teams

Notify customers of data breaches only if it exceeds 1000 affected records

Store cardholder data indefinitely for future reference