Practice Test GeeksCRCT - Certified Revenue Control Technician Practice Test
← All CRCT Flashcard Decks

Regulatory Compliance & Standards Flashcards

6 cards from real CRCT practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Regulatory Compliance & Standards flashcards as text

  1. Which compliance standard most directly addresses internal financial controls and accurate financial reporting for publicly accountable agencies?

    Answer: Sarbanes-Oxley (SOX)

    SOX establishes requirements for financial reporting accuracy and internal controls, which apply to revenue accountability in public and quasi-public agencies.

  2. Title VI of the Civil Rights Act, as applied to transit fare collection, prohibits:

    Answer: Fare discrimination based on race, color, or national origin

    Title VI prohibits recipients of federal financial assistance from discriminating in services or programs on the basis of race, color, or national origin.

  3. A revenue control technician discovers a gap in fare media handling procedures. What is the correct first step?

    Answer: Document and report it to the compliance officer

    Compliance gaps must be documented and escalated immediately so management can assess risk, implement corrective action, and satisfy audit trail requirements.

  4. What is the standard minimum records retention period for transit fare revenue documentation under federal guidelines?

    Answer: 3 years

    FTA grant management requirements generally mandate that grantees retain financial records, including revenue documentation, for a minimum of three years.

  5. ISO 9001, when applied to transit revenue control operations, primarily focuses on:

    Answer: Quality management and process consistency

    ISO 9001 is a quality management standard that ensures processes are documented, consistent, and continually improved — directly applicable to revenue control workflows.

  6. When a transit agency updates its fare structure, what is the revenue control technician's compliance obligation?

    Answer: Ensure all fare collection systems are updated, tested, and compliant

    All fare collection systems must be updated and validated to accurately capture revenue under the new fare structure, ensuring compliance and accurate reporting.