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5 Written questions

5 Matching questions

  1. Defense Industry Initiatives
  2. Culpability Score
  3. Volcker
  4. True
  5. Title VIII
  1. a Under FCPA, payments lawful under foreign laws are legal. (true/false)
  2. b The _____ Rule: Proposed by former Federal Reserve Chairman Paul _____, this rule limits the ability of banks to trade on their own accounts (i.e., invest their own money) in any way that might threaten the financial stability of the institution (and by definition, the financial markets as a whole).
  3. c The ______contains six principles that "were intended to promote sound management practices, to ensure that companies were in compliance with complex regulations, and to restore public confidence in the defense industry."
  4. d (FSGO) The calculation of a degree of blame or guilt that is used as a multiplier of up to 4 times the base fine. The culpability score can be adusted according to aggravating or mitigating factors.
  5. e Which title protects employees of companyies who provide evidence of fraud?

5 Multiple choice questions

  1. The 7 steps to and effective _______________ are Management oversight; Corporate policies; Communication of standards and procedures; Compliance with standards and procedures; Delegaation of substantial discretionary authority; Consistent discipline; and Response and Corrective action.
  2. All of the following are covered under Title II: Auditor Independance, except:
    a) Prohibits specific "nonaudit" services of public accounting firms as violation of auditor independence.
    b) requires the external auditor to report to the client's audit committee on specific topics.
    c) Requires auditors to disclose all other written communications between management and themselves.
    d) requires audit committees to be independent and undertake specified oversight responsibilities.
  3. Responsibilities granted to the Consumer Financial Protection Bureau include the authority to examine and enforce regulation for banks and credit unions with assets over $10 billion; the creation of a new Office of Financial Literacy; the creation of national consumer complaint hotline and the consolidation of all consumer protection responsibilities currently handled by the Office of the Comptroller of the Currency, Office of Thrift Supervision, Federal Deposit Ins. Co (FDIC), Federal Reserve, Nat. Credit Union Admin (NCUA), the Department of Housing and Urban Dev (HUD) and the Fed. Trade Comm. (FTC). (true/false)
  4. (FCPA) Any regular administrative process or procedure, excluding any action taken by a foreign official in the decision to award new or continuing business.
  5. Factors that can increase the culpability score are called _______ factors

5 True/False questions

  1. Public Company Accounting Oversight Board(PCAOB) is an independent oversight body for auditing companies. They were charged with maintaining compliance with established standards and enforcing rules and disciplinary procedurees for those organizations that found themselves out of compliance.

          

  2. Consumer Financial Protection BureauThe ________________ is a government agency within the Federal Reserve that oversees financial products and services

          

  3. TrueAll of the following are aggravating factors of the culpability score, except:
    a) the organization willfully obstructed justice.
    b) the organization had an effective program to prevent and detect violations of law.
    c) the currrent offense violated a judicial order, injunction, or condition of probation.
    d) high-level personnel were involved in or tolerated the criminal activity.

          

  4. TrueThe SEC can enforce criminal penalties of up to $2 million per violation of the FCPA against corporate and business entities. (true/false)

          

  5. TrueAll of the following are aggravating factors of the culpability score, except:
    a) the organization willfully obstructed justice.
    b) the organization had an effective program to prevent and detect violations of law.
    c) the currrent offense violated a judicial order, injunction, or condition of probation.
    d) high-level personnel were involved in or tolerated the criminal activity.