Compliance and Auditing Regulatory Frameworks 2

Question 1

Under SOX Section 302, who is primarily responsible for certifying the accuracy of financial reports?

Accepted Answer

CEO and CFO

Answer

External auditors

Answer

Board of directors

Answer

Internal audit team

Question 2

Which HIPAA rule specifically governs the security of electronic protected health information (ePHI)?

Accepted Answer

Security Rule

Answer

Privacy Rule

Answer

Breach Notification Rule

Answer

Enforcement Rule

Question 3

What is the primary goal of the Federal Information Security Management Act (FISMA)?

Accepted Answer

Protect federal information and systems

Answer

Regulate private sector cybersecurity

Answer

Manage financial institution risk

Answer

Standardize healthcare data

Question 4

The Children's Online Privacy Protection Act (COPPA) applies to websites that collect data from children under what age?

Accepted Answer

13

Answer

16

Answer

18

Answer

12

Question 5

Which regulatory body enforces compliance with SOX for publicly traded US companies?

Accepted Answer

SEC

Answer

FDIC

Answer

FTC

Answer

CFPB

Question 6

The FTC Safeguards Rule requires which type of companies to implement a comprehensive information security program?

Accepted Answer

Financial institutions

Answer

Healthcare organizations

Answer

Non-financial businesses

Answer

Government agencies