Online Access Free 8020 Exam Questions

Which of the following principles best applies to a compliance function?

• A.The compliance function should report to the business (even when following a three lines of defense model).
• B.The risk function should be outsourced if there is a compliance function.
• C.The compliance function should be independent of the business (following a three lines of defense model).
• D.The compliance function should be outsourced if there is a risk function.

In relation to financial crime. OFAC is a definition for which organization?

• A.Office for Asset Control.
• B.Office of Foreign Asset Control.
• C.Office of Financial Asset Control.
• D.Office of Foreigner and other Control.

ISO 27000 relates to what topic / area?

• A.Auditing of financial controls.
• B.Information Security Systems.
• C.Environmental, social, and governance (ESG) investing.
• D.International Risk Management.

In relation to the template for writing policy documents, which one of the following pairings of requirements is correct? A well designed policy will include:

• A.A list of exceptions for the family of board members.
• B.To whom the policy applies to and how an additional management report should be allocated to.
• C.To whom and in what form exceptions should be sought and the general exemptions e.g. areas to which the policy does not apply
• D.A list of acceptable fonts and margin types.

For the Northern Rock case study, what was the low-probability-high-impact event that was most responsible for the loss event?

• A.An exposure to real estate funds, heavily concentrated in Berlin.
• B.Liquidity dried up in the inter-bank and commercial paper markets.
• C.The Bank of England's withdrawal of Deposit Protection.
• D.The acquisition of Merrill Lynch by Bank of America.