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What action should be taken before appointing the CCO? A. The CEO should be informed of the decision. B. The Senior Supervisory Manager, Department of Supervision, Reserve Bank of India, should be provided with prior intimation. C. A press release should be issued. D. The Board should conduct an internal investigation.

What should be the minimum tenure of the CCO in an NBFC? a) 1 year b) 2 years c) 3 years d) 4 years

What is Dual Hatting? A. The act of wearing two hats at the same time B. The act of a CCO having conflicting responsibilities related to business C. The act of a CCO being a member of a committee that conflicts with their role D. The act of a CCO not having any conflicting responsibilities related to business

How often should NBFCs carry out a Compliance risk assessment? a. Quarterly b. Annually c. Bi-annually d. Once in three years

What should the Compliance Policy have in place for monitoring compliance testing? a) Performance appraisals b) Quality control measures c) Training programs d) Monitoring mechanisms

Above question

What is the responsibility of NBFCs regarding employee awareness of the Compliance Policy? a) It is not required for NBFCs to ensure employee awareness b) NBFCs must ensure all employees adhere to the Compliance Policy c) NBFCs must ensure all employees are aware of the Compliance Policy and adhere to it d) NBFCs must ensure only senior employees are aware of the Compliance Policy

Who is the primary point of contact between an NBFC and regulators/supervisors? a) Chief Compliance Officer b) Operational department heads c) Law enforcement agencies d) None of the above

Who does the Compliance Function report the results of their monitoring and testing to? a) The Board and Senior Management b) The Legal Department c) The Audit Committee d) The HR Department

Above question

What is compliance risk? A. The risk of financial loss due to market fluctuations. B. The risk of legal or regulatory sanctions due to non-compliance with laws, regulations, rules, and codes of conduct. C. The risk of reputational damage due to poor customer service. D. The risk of operational inefficiencies due to outdated technology.

Which NBFCs will receive separate regulations in the future? a) NBFCs availing public funds b) NBFCs not having customer interface c) Both a and b d) None of the above

hat is the condition for an NBFC-UL to move out of the enhanced regulatory framework before 5 years? A) Subject to RBI approval B) Subject to Board approval C) Subject to SEBI approval D) Subject to Ministry of Finance approval

Above question

What happens if an NBFC-UL does not meet the parametric criteria in subsequent years? a) They will be classified as NBFC-L b) They will be subject to enhanced regulatory requirements for 3 years c) They will be subject to enhanced regulatory requirements for 5 years d) They will be subject to enhanced regulatory requirements indefinitely

Within how many years must NBFCs be mandatorily listed? a) 1 year b) 2 years c) 3 years d) 4 years

Which of the following should NBFCs have in their subsidiaries as per the given statement? a) A whistleblower mechanism b) A marketing plan c) A sales strategy d) An advertising campaign