OM Regulatory Compliance 3

Question 1

Which compliance framework is specifically designed to help organizations that process payment card data protect cardholder information?

Accepted Answer

PCI DSS

Answer

The Payment Card Industry Data Security Standard (PCI DSS) is specifically designed to protect cardholder data for organizations that process, store, or transmit payment card information.

Question 2

Under the Fair Labor Standards Act (FLSA), which category of workers is exempt from overtime pay requirements?

Accepted Answer

Executives, administrative, and professional employees meeting salary and duties tests

Answer

The FLSA exempts executive, administrative, and professional employees who meet both the salary basis test and specific duties tests from overtime requirements.

Question 3

A company's compliance program includes a confidential reporting hotline. According to best practices and SOX requirements, who should the hotline reports ultimately reach?

Accepted Answer

The Audit Committee of the Board of Directors

Answer

SOX requires that audit committees establish procedures for receiving and handling complaints about accounting and internal controls, making them the appropriate recipients of hotline reports.

Question 4

The False Claims Act's 'qui tam' provision allows:

Accepted Answer

Private citizens to file lawsuits on behalf of the government and share in recoveries

Answer

The False Claims Act's qui tam provision allows private citizens (relators) to sue on the government's behalf and receive 15-30% of recovered funds.

Question 5

An organization operating internationally must comply with the EU General Data Protection Regulation (GDPR). Which principle requires that personal data be collected only for specified, explicit, and legitimate purposes?

Accepted Answer

Purpose limitation

Answer

GDPR's purpose limitation principle requires that personal data be collected for specified, explicit, and legitimate purposes and not processed in incompatible ways.

(OM) Organizational Management Specialty Certification Practice Test

(OM) Organizational Management Specialty Certification Practice Test

OM Regulatory Compliance 3