Investigation & Remediation Procedures Flashcards
7 cards from real RCMS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Investigation & Remediation Procedures flashcards as text
A compliance investigation reveals that a third-party vendor submitted falsified certifications. What is the MOST appropriate immediate remediation step?
Answer: Suspend or terminate the vendor relationship pending full review
Suspending or terminating a vendor relationship prevents ongoing exposure while the full scope of the violation is assessed.
What is the primary purpose of a 'lessons learned' review at the conclusion of a compliance investigation?
Answer: To identify systemic weaknesses and improve future compliance controls
Lessons learned reviews identify gaps in controls and processes so the organization can prevent similar violations.
Under which circumstance should a compliance officer consider voluntarily self-disclosing a violation to regulators?
Answer: When the violation is material, the company has investigated fully, and disclosure may reduce penalties
Voluntary self-disclosure of material violations after a thorough investigation typically results in reduced regulatory penalties and demonstrates good faith.
Which interview technique is MOST effective for gathering accurate information from a reluctant witness during a compliance investigation?
Answer: Using open-ended questions and active listening in a non-confrontational setting
Open-ended questions in a non-threatening environment encourage witnesses to share information freely and accurately.
When a compliance investigation involves potential criminal conduct, what is the MOST critical consideration for the compliance team?
Answer: Ensuring close coordination with legal counsel to avoid obstruction of justice
Close coordination with legal counsel ensures the investigation does not inadvertently obstruct a parallel criminal inquiry.
A corrective action plan (CAP) developed after a compliance investigation should include which of the following?
Answer: Specific action items, responsible parties, timelines, and success metrics
An effective CAP includes specific actions, accountable owners, realistic timelines, and measurable success criteria to ensure follow-through.
Which of the following BEST describes the role of an independent monitor appointed by a regulator following a compliance violation?
Answer: To oversee the company's remediation efforts and report compliance status to the regulator
An independent monitor acts as a neutral overseer who verifies that agreed-upon remediation steps are implemented and reports findings to the appointing regulator.