Compliance quiz
CIS Compliance Quiz
Test your knowledge and understanding of compliance within the Credit Information System (CIS). This comprehensive quiz covers various aspects, including challenges, implications of non-compliance, and best practices for fostering a strong compliance culture.
Key Features:
- Multiple choice and checkbox questions
- Practical scenarios and real-world applications
- Assess your readiness for CIS compliance
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 |
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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