Compliance quiz

The following are the common challenges that lead to non-compliance in CIS which one is not

Inadequate staff skills

Unreliable technology

Internal policies and procedures

Lack of capacity building

Non- compliance is costly

True

False

Which of the following are ways to promote strong compliance culture in an institution?

Application of whistle-blower protection policies

Introduction of incentives for high compliance performers

Frequent internal audits and snap checks

Continuous capacity building of personnel involved in CIS functions

The following are implications and cost of non-compliance. Which one is a regulatory implication?

Monetary fines

Consumer and public disaffection

Gaps in risk management

Litigation costs

Match the following challenges to the relevant recommendations to ensure full CIS compliance.

	Investing in robust systems and technolgy	Continuous capacity building	Relevant internal policies and procedures
Unreliable technology and infrastructure
Inadequate staff skills
Weak maker-checker procedures

What is CIS compliance?

CIS Compliance is applicable to?

CRBs

Credit information providers

Data subject

Regulator

Which of the following types of notices is it issued to bureaus?

Post-listing notice

Pre-listing notice

Adverse action notice

Amendment notice

The below are modes of service when it comes to issuing notices. Which one is not?

Short Message Service

Phone calls

Physical delivery of the letter

Registered mail or certificate of posting

The regulator has powers and responsibilities to?

Maintain proper standards of conduct that are acceptable in credit information reporting practices

Take measures to protect the interests of customers, subscribers or bureaus.

Manipulate credit information as per their desires

Impose penalties or sanctions for violations of the regulations.

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