CSL CSL Legal, Regulatory & Ethical Considerations 1

Question 1

Under US law, which federal agency has primary oversight responsibility for cybersecurity in the financial sector?

Accepted Answer

The SEC (Securities and Exchange Commission) and banking regulators like FFIEC

Answer

Financial sector cybersecurity oversight falls under the SEC for public companies and FFIEC-member banking regulators (OCC, FDIC, Federal Reserve) for depository institutions.

Question 2

What is the purpose of the SEC's cybersecurity disclosure rules for public companies?

Accepted Answer

Require timely public disclosure of material cybersecurity incidents and annual reporting on cybersecurity risk management

Answer

The SEC's 2023 cybersecurity rules require public companies to disclose material incidents within four business days and annually report on their cybersecurity risk management programs.

Question 3

What does the Computer Fraud and Abuse Act (CFAA) primarily govern?

Accepted Answer

Unauthorized access to computer systems and networks in the United States

Answer

The CFAA is the primary US federal law prohibiting unauthorized access to computer systems, forming the legal basis for prosecuting cybercrime and limiting authorized security testing.

Question 4

A CSL leader must ensure compliance with HIPAA. Which cybersecurity control is explicitly required?

Accepted Answer

Access controls limiting ePHI access to authorized users only

Answer

HIPAA's Security Rule requires covered entities to implement access controls ensuring that only authorized individuals can access electronic protected health information (ePHI).

Question 5

What is the primary purpose of state-level data breach notification laws in the US?

Accepted Answer

Require organizations to notify affected individuals and regulators when their personal data is exposed in a breach

Answer

State breach notification laws give consumers the right to know when their personal information has been compromised so they can take protective action.

(CSL) Cybersecurity Leadership Certification Practice Test

(CSL) Cybersecurity Leadership Certification Practice Test

CSL CSL Legal, Regulatory & Ethical Considerations 1