RCMS Investigation & Remediation Procedures 3

Question 1

A compliance investigation reveals that a third-party vendor submitted falsified certifications. What is the MOST appropriate immediate remediation step?

Accepted Answer

Suspend or terminate the vendor relationship pending full review

Answer

Suspending or terminating a vendor relationship prevents ongoing exposure while the full scope of the violation is assessed.

Question 2

What is the primary purpose of a 'lessons learned' review at the conclusion of a compliance investigation?

Accepted Answer

To identify systemic weaknesses and improve future compliance controls

Answer

Lessons learned reviews identify gaps in controls and processes so the organization can prevent similar violations.

Question 3

Under which circumstance should a compliance officer consider voluntarily self-disclosing a violation to regulators?

Accepted Answer

When the violation is material, the company has investigated fully, and disclosure may reduce penalties

Answer

Voluntary self-disclosure of material violations after a thorough investigation typically results in reduced regulatory penalties and demonstrates good faith.

Question 4

Which interview technique is MOST effective for gathering accurate information from a reluctant witness during a compliance investigation?

Accepted Answer

Using open-ended questions and active listening in a non-confrontational setting

Answer

Open-ended questions in a non-threatening environment encourage witnesses to share information freely and accurately.

Question 5

When a compliance investigation involves potential criminal conduct, what is the MOST critical consideration for the compliance team?

Accepted Answer

Ensuring close coordination with legal counsel to avoid obstruction of justice

Answer

Close coordination with legal counsel ensures the investigation does not inadvertently obstruct a parallel criminal inquiry.

(RCMS) Registered Compliance Management Specialist Certification Practice Test

(RCMS) Registered Compliance Management Specialist Certification Practice Test

RCMS Investigation & Remediation Procedures 3