CRCT Regulatory Compliance & Standards 2 — Questions and Answers
Question 1: Which compliance standard most directly addresses internal financial controls and accurate financial reporting for publicly accountable agencies?
- HIPAA
- PCI DSS
- Sarbanes-Oxley (SOX) (Correct answer)
- ISO 14001
Correct 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.
Question 2: Title VI of the Civil Rights Act, as applied to transit fare collection, prohibits:
- Charging fares above the federal limit
- Fare discrimination based on race, color, or national origin (Correct answer)
- Collecting cash fares on commuter rail
- Using automated fare equipment
Correct 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.
Question 3: A revenue control technician discovers a gap in fare media handling procedures. What is the correct first step?
- Ignore it if the dollar amount seems minor
- Document and report it to the compliance officer (Correct answer)
- Fix it personally without notifying anyone
- Wait until the next scheduled audit
Correct 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.
Question 4: What is the standard minimum records retention period for transit fare revenue documentation under federal guidelines?
- 1 year
- 2 years
- 3 years (Correct answer)
- 5 years
Correct answer: 3 years
FTA grant management requirements generally mandate that grantees retain financial records, including revenue documentation, for a minimum of three years.
Question 5: ISO 9001, when applied to transit revenue control operations, primarily focuses on:
- Setting fare prices
- Quality management and process consistency (Correct answer)
- Recruiting revenue control staff
- Designing fare gate hardware
Correct 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.
Question 6: When a transit agency updates its fare structure, what is the revenue control technician's compliance obligation?
- Delete all historical fare data immediately
- Ensure all fare collection systems are updated, tested, and compliant (Correct answer)
- Only update manual collection points
- Notify customers before updating systems
Correct 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.
CRCT Regulatory Compliance & Standards 2
Which compliance standard most directly addresses internal financial controls and accurate financial reporting for publicly accountable agencies?