#1
Which of the following laws protects consumers' personal information?
GDPR
ExplanationGeneral Data Protection Regulation
#2
What does GDPR stand for?
General Data Protection Regulation
ExplanationGlobal Data Protection Rules
#3
What does the acronym 'AML' typically stand for in regulatory compliance?
Anti-Money Laundering
ExplanationPreventing and detecting money laundering activities
#4
Which of the following is a key component of KYC procedures?
Know Your Customer
ExplanationVerification process to assess customer identity and risks
#5
What is the purpose of the Health Insurance Portability and Accountability Act (HIPAA)?
To ensure the confidentiality and security of healthcare information
ExplanationProtecting sensitive health data and patient privacy
#6
Which of the following is NOT a category of protected health information (PHI) under HIPAA?
Employment history
ExplanationHIPAA focuses on health-related data, not employment records
#7
Which of the following is NOT typically considered a compliance issue for businesses?
Marketing strategies
ExplanationOperational processes and internal controls are common compliance issues.
#8
What does 'SOX' refer to in the context of regulatory compliance?
Sarbanes-Oxley Act
ExplanationLegislation addressing corporate governance and financial disclosure
#9
What is the primary objective of OFAC regulations?
To enforce trade sanctions
ExplanationEnsuring compliance with economic sanctions programs
#10
What is the purpose of the 'Whistleblower Protection Act'?
To protect whistleblowers from retaliation by their employers
ExplanationSafeguarding those reporting illegal or unethical activities
#11
What is the primary objective of the Payment Card Industry Data Security Standard (PCI DSS)?
To protect cardholder data from unauthorized access
ExplanationEnsuring secure handling of credit card information
#12
What does 'FATCA' stand for in the context of financial compliance?
Foreign Account Tax Compliance Act
ExplanationAddressing tax evasion through international accounts
#13
What is the purpose of a whistleblower hotline in a company?
To report unethical behavior or violations of laws and regulations anonymously
ExplanationEncourages reporting of misconduct without fear of reprisal
#14
Which of the following is NOT an example of insider trading?
A shareholder selling shares based on publicly available information
ExplanationInsider trading involves using non-public information for stock trading
#15
Which of the following is a key principle of the General Data Protection Regulation (GDPR)?
Data minimization
ExplanationCollecting only necessary personal data for specified purposes
#16
What is the primary purpose of the Foreign Corrupt Practices Act (FCPA)?
To prevent bribery and corruption in international business transactions
ExplanationCombatting corrupt practices in global commerce
#17
Which of the following laws is primarily concerned with regulating workplace safety?
OSHA
ExplanationOccupational Safety and Health Administration ensuring workplace safety standards