Preview Questions Compliance Officer | Role Specific Skill

Question 1: What is a risk of poor documentation practices in compliance?

Which action should you take?

Choose only one option

Increased customer acquisition costs

Higher employee attrition

Non-compliance penalties

Reduced marketing efficiency

Question 2: What is the role of ?stress testing? in ensuring compliance with capital adequacy requirements under Basel III?

Which action should you take?

Choose only one option

Test bank's market share

Analyze credit ratings

Assess resilience under adverse conditions

Verify compliance with anti-money laundering

Question 3: Which system is often used in BFSI to automate compliance reporting processes?

Which action should you take?

Choose only one option

Enterprise Resource Planning (ERP)

Financial Planning Software

Customer Relationship Management (CRM)

Governance, Risk, and Compliance (GRC) systems

Question 4: In compliance investigations, what is the purpose of using artificial intelligence tools?

Which action should you take?

Choose only one option

Develop marketing campaigns

Improve HR policies

Automate customer onboarding

Detect anomalies and patterns in large datasets

Question 5: What is the main objective of implementing enterprise risk management (ERM) in BFSI companies?

Which action should you take?

Choose only one option

Focus on customer risk profiling

Optimize tax compliance

Align risk strategy with organizational objectives

Minimize fraud cases

Question 6: What does the Fair Lending Act in the U.S. aim to achieve?

Which action should you take?

Choose only one option

Ensure fair treatment of small businesses

Simplify mortgage application processes

Prevent discrimination in lending practices

Improve credit reporting standards