Capital One Assessment Test Safety and Compliance 2

Question 1

A customer calls claiming their account was charged without authorization. Under Regulation E, how long does the bank have to investigate the claim if the customer has not provided a written statement?

Accepted Answer

10 business days

Answer

Regulation E gives financial institutions 10 business days to investigate electronic fund transfer errors after receiving oral notice, before provisional credit may be required.

Question 2

Which federal law requires Capital One to implement an information security program to protect customer data?

Accepted Answer

Gramm-Leach-Bliley Act

Answer

The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to protect the security and confidentiality of nonpublic personal information through a written information security program.

Question 3

An employee notices a coworker accessing customer account records for accounts not related to any active work request. What is the MOST appropriate first action?

Accepted Answer

Report it to a manager or through the ethics hotline

Answer

Unauthorized access to customer accounts is a potential data privacy violation that must be reported to management or through official ethics reporting channels.

Question 4

What does 'need-to-know' mean in the context of information access controls at a financial institution?

Accepted Answer

Access to sensitive data is limited to those whose job functions require it

Answer

The need-to-know principle restricts access to sensitive information only to employees whose role specifically requires that access to perform their duties.

Question 5

Under the Bank Secrecy Act (BSA), what is the threshold for filing a Currency Transaction Report (CTR)?

Accepted Answer

$10,000 in cash

Answer

Financial institutions must file a CTR for any cash transaction exceeding $10,000 in a single business day, even if conducted in multiple transactions.

Capital One Assessment Test Practice Test

Capital One Assessment Test Practice Test

Capital One Assessment Test Safety and Compliance 2