CCT Regulatory Frameworks & Compliance Standards 3 — Questions and Answers
Question 1: Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which agency was created to protect consumers of financial products and services?
- Financial Industry Regulatory Authority (FINRA)
- Consumer Financial Protection Bureau (CFPB) (Correct answer)
- Federal Deposit Insurance Corporation (FDIC)
- Office of Financial Research (OFR)
Correct answer: Consumer Financial Protection Bureau (CFPB)
The Dodd-Frank Act created the CFPB in 2010 to supervise and enforce consumer financial protection laws.
Question 2: Which OSHA standard requires employers to establish a written Hazard Communication program and train employees on chemical hazards?
- 29 CFR 1910.119 (PSM)
- 29 CFR 1910.1200 (HazCom) (Correct answer)
- 29 CFR 1910.147 (LOTO)
- 29 CFR 1910.134 (Respiratory Protection)
Correct answer: 29 CFR 1910.1200 (HazCom)
OSHA's Hazard Communication Standard (29 CFR 1910.1200) requires chemical manufacturers and employers to communicate hazards through labels, SDS, and training.
Question 3: A Suspicious Activity Report (SAR) must be filed with FinCEN within how many days of initial detection of suspicious activity?
- 15 days
- 30 days (Correct answer)
- 45 days
- 60 days
Correct answer: 30 days
Financial institutions must file a SAR within 30 days of the date they initially detected the facts that may constitute a basis for filing.
Question 4: The Americans with Disabilities Act (ADA) Title I applies to employers with how many or more employees?
- 5
- 10
- 15 (Correct answer)
- 50
Correct answer: 15
ADA Title I applies to employers with 15 or more employees, prohibiting discrimination against qualified individuals with disabilities.
Question 5: Which international standard provides a framework for establishing, implementing, and maintaining an Information Security Management System (ISMS)?
- ISO 9001
- ISO 14001
- ISO 27001 (Correct answer)
- ISO 31000
Correct answer: ISO 27001
ISO/IEC 27001 is the international standard for information security management systems and provides requirements for establishing an ISMS.
Question 6: The Equal Employment Opportunity Commission (EEOC) requires employers to retain personnel and employment records for a minimum of how long?
- 6 months
- 1 year (Correct answer)
- 3 years
- 7 years
Correct answer: 1 year
EEOC regulations require covered employers to retain personnel records, including job applications and related records, for at least one year.
Question 7: Under the Clean Air Act, which program requires facilities with large quantities of hazardous chemicals to develop risk management plans?
- Spill Prevention Control and Countermeasure (SPCC)
- Risk Management Program (RMP) (Correct answer)
- Emergency Planning and Community Right-to-Know (EPCRA)
- Toxic Release Inventory (TRI)
Correct answer: Risk Management Program (RMP)
EPA's Risk Management Program under Clean Air Act Section 112(r) requires facilities using regulated substances above threshold quantities to develop RMPs.
CCT Regulatory Frameworks & Compliance Standards 3
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, which agency was created to protect consumers of financial products and services?