#1
Which of the following is NOT a component of Wellcare Sales Support and Compliance Procedures?
Marketing strategies
ExplanationMarketing strategies are not part of the compliance procedures.
#2
What is the primary objective of Wellcare Sales Support and Compliance Procedures?
To ensure compliance with laws and regulations
ExplanationThe primary goal is to ensure compliance with legal requirements.
#3
Which department is responsible for overseeing compliance with Wellcare Sales Support and Compliance Procedures?
Legal and Compliance
ExplanationThe Legal and Compliance department is responsible for oversight.
#4
What action should a Wellcare Sales Representative take if they suspect a potential violation of compliance procedures?
Report it to their immediate supervisor or compliance officer
ExplanationReport suspicions to the supervisor or compliance officer.
#5
What is the purpose of a non-disclosure agreement (NDA) in Wellcare Sales Support and Compliance Procedures?
To protect confidential information from being shared with unauthorized parties
ExplanationNDAs safeguard confidential information from unauthorized sharing.
#6
Which of the following is an example of a compliance breach in Wellcare Sales Support and Compliance Procedures?
Engaging in fraudulent activities to boost sales numbers
ExplanationEngaging in fraudulent activities constitutes a compliance breach.
#7
What role do audits play in ensuring compliance within Wellcare Sales Support and Compliance Procedures?
To identify areas of non-compliance and implement corrective measures
ExplanationAudits identify non-compliance areas and drive corrective actions.
#8
What is the purpose of implementing a code of conduct in Wellcare Sales Support and Compliance Procedures?
To establish guidelines for ethical behavior
ExplanationA code of conduct sets guidelines for ethical behavior.
#9
In Wellcare Sales Support and Compliance Procedures, what is the significance of 'Know Your Customer' (KYC) guidelines?
To verify the identity of customers and assess their risk factors
ExplanationKYC guidelines are for customer identity verification and risk assessment.
#10
What is the consequence of failing to comply with Wellcare Sales Support and Compliance Procedures?
Possible legal action and disciplinary measures
ExplanationFailure to comply may result in legal action and disciplinary measures.
#11
What measures can be taken to ensure ongoing compliance with Wellcare Sales Support and Compliance Procedures?
Regular training sessions for employees
ExplanationRegular training ensures ongoing compliance awareness.
#12
How does Wellcare ensure adherence to compliance procedures during sales transactions?
By integrating compliance checks into the sales process
ExplanationIntegration of compliance checks into the sales process ensures adherence.
#13
What role does continuous monitoring play in maintaining compliance within Wellcare Sales Support and Compliance Procedures?
To identify emerging risks and adapt procedures accordingly
ExplanationContinuous monitoring identifies emerging risks for adaptive procedures.
#14
Why is it important for Wellcare Sales Representatives to maintain accurate records of sales activities?
To provide evidence of compliance with regulations
ExplanationAccurate records provide evidence of compliance with regulations.