Preview Questions Documentation Specialist | Role Specific Skill

Question 1: In a financial institution, which document management system feature is critical for compliance with the EU's Data Protection Regulation (GDPR)?

Which action should you take?

Choose only one option

Automatic deletion of records after the retention period has expired

Manual deletion of records by employees

Keeping records indefinitely with no deletion protocol

Storing records in an open access system

Question 2: Which of the following practices would help ensure compliance with the Privacy Act in the BFSI sector?

Which action should you take?

Choose only one option

Storing customer information indefinitely without review

Keeping customer records in unprotected digital files

Selling customer data to third parties for marketing purposes

Storing customer data only with their explicit consent and providing access to data upon request

Question 3: How would you handle metadata management for records, especially in terms of regulatory compliance in BFSI?

Which action should you take?

Choose only one option

Store metadata separately from the record itself

Define and standardize metadata for each record type

Ignore metadata requirements for simplicity

Use metadata only for document titles and leave out crucial data

Question 4: In order to comply with Basel III, which documentation requirement must be strictly followed for capital management?

Which action should you take?

Choose only one option

Discarding records of small credit exposures

Storing only annual reports for capital calculations

Maintaining detailed records of capital adequacy and risk ratios

Recording only market risk data

Question 5: How do you ensure that records are easily accessible during the audit process in BFSI while maintaining security and confidentiality?

Which action should you take?

Choose only one option

Use a secure, centralized document management system with audit trail features

Grant access based on seniority within the institution

Create an easily accessible shared drive for all employees

Store all records in paper format for easier access

Question 6: Which document retention policy is most consistent with the requirements of the Sarbanes-Oxley Act (SOX)?

Which action should you take?

Choose only one option

Archive records based on a 5-year rolling retention cycle

Retain financial records for a minimum of 7 years

Keep only current year's financial statements

Retain financial records indefinitely without review