Asset Management Asset Compliance and Regulatory Standards

Question 1

Which US regulatory body oversees investment advisers managing client assets and enforces compliance with the Investment Advisers Act of 1940?

Accepted Answer

Securities and Exchange Commission (SEC)

Answer

Federal Reserve

Answer

Office of the Comptroller of the Currency

Answer

Financial Industry Regulatory Authority (FINRA)

Question 2

The Dodd-Frank Wall Street Reform and Consumer Protection Act primarily addressed which asset management compliance area?

Accepted Answer

Systemic risk in financial institutions and derivatives markets

Answer

Software license management

Answer

Environmental asset remediation

Answer

Real property title insurance

Question 3

Which US regulatory framework requires banks to hold minimum capital reserves proportional to their risk-weighted assets?

Accepted Answer

Basel III (implemented via US banking regulations)

Answer

Sarbanes-Oxley Act

Answer

ERISA

Answer

Securities Exchange Act of 1934

Question 4

GASB Statement 34 was significant for US government asset management because it required:

Accepted Answer

State and local governments to report infrastructure assets on financial statements

Answer

Private companies to disclose intangible assets

Answer

Federal agencies to adopt IFRS

Answer

Non-profits to value endowments at market

Question 5

Environmental asset compliance in the US is primarily governed by regulations from which agency?

Accepted Answer

EPA (Environmental Protection Agency)

Answer

SEC

Answer

FTC

Answer

OSHA

Question 6

Which compliance concept requires organizations to retain asset records and documentation for a specified minimum period?

Accepted Answer

Record Retention Policy

Answer

Asset Tagging

Answer

Impairment Testing

Answer

Capitalization Threshold