Preview Questions Fraud Analyst | Role Specific Skill

Question 1: What is the best method to identify risks in automated trading systems?

Which action should you take?

Choose only one option

Use pattern recognition to detect unusual trading activities

Rely on real-time monitoring for market anomalies

Perform backtesting using historical data

Perform manual audits of trading logs

Question 2: Which of the following is the main purpose of a fraud risk assessment in BFSI organizations?

Which action should you take?

Choose only one option

To review the effectiveness of the internal audit department

To assess the profitability of the organization

To identify opportunities for cost-saving

To identify potential fraud risks and establish mitigation strategies

Question 3: The Basel Committee on Banking Supervision (BCBS) is best known for its work on which regulatory area?

Which action should you take?

Choose only one option

Tax compliance and reporting procedures

Corporate governance in financial institutions

Capital adequacy and risk management

International monetary policy enforcement

Question 4: What is the key advantage of using machine learning models in fraud detection?

Which action should you take?

Choose only one option

Ability to reduce data storage needs

Ability to generate financial reports faster

Lower cost of investigation

Ability to automatically adapt and identify new fraud patterns

Question 5: What is the most effective method for identifying risks in transactions involving virtual currencies?

Which action should you take?

Choose only one option

Tracking transaction history for anomalies

Analyzing time-based transaction patterns

Using machine learning models for predictive analysis

Cross-checking with global exchange rates

Question 6: What role does data visualization play in presenting fraud findings to non-technical stakeholders?

Which action should you take?

Choose only one option

Providing a detailed audit trail of all fraud activities

Making complex data more accessible and understandable

Generating automated reports for fraud analysis

Making detailed statistical analysis less transparent