EduTest Test Industry Regulations 3

Question 1

What is the primary purpose of the Sarbanes-Oxley Act (SOX) of 2002?

Accepted Answer

Protect investors by improving corporate financial disclosures

Answer

SOX was enacted in response to major corporate scandals to enhance the accuracy and reliability of corporate financial disclosures.

Question 2

Under the Family and Medical Leave Act (FMLA), how many weeks of unpaid leave are eligible employees entitled to per year?

Accepted Answer

12 weeks

Answer

FMLA provides eligible employees up to 12 weeks of unpaid, job-protected leave per year for qualifying family and medical reasons.

Question 3

Which agency enforces the Consumer Product Safety Improvement Act (CPSIA)?

Accepted Answer

CPSC

Answer

The Consumer Product Safety Commission (CPSC) enforces the CPSIA, which sets safety standards for consumer products.

Question 4

Under the General Duty Clause of the OSH Act, employers must provide a workplace free from:

Accepted Answer

Recognized hazards likely to cause serious harm

Answer

The General Duty Clause requires employers to address recognized hazards that are likely to cause death or serious physical harm, even when no specific standard applies.

Question 5

Which financial regulation requires broker-dealers to maintain accurate records and report suspicious transactions?

Accepted Answer

Bank Secrecy Act

Answer

The Bank Secrecy Act requires financial institutions to assist government agencies in detecting and preventing money laundering through recordkeeping and reporting.

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EduTest Test Industry Regulations 3