Nice Win Big Webinar: Trading Floor & Proactive Compliance

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| By Sharontan
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Sharontan
Community Contributor
Quizzes Created: 4 | Total Attempts: 369
Questions: 10 | Attempts: 73

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Nice Win Big Webinar: Trading Floor & Proactive Compliance - Quiz


This is a short assessment that will help you to evaluate your understanding of the solution.
Do note that you are only allowed to attempt this quiz ONCE and are required to complete it by Friday, 8 Feb, 11:59pm (+08:00GMT).
Time limit is 45 minutes.
The top scorers for this quiz stand a chance to win an attractive prize!
GOOD LUCK!


Questions and Answers
  • 1. 

    What does 'Dodd-Frank' stand for?

    • A.

      Albert Dodd-Frank was the name of the senator that initiated this Act

    • B.

      Seneator Dodd and senator Frank were the two senators who initiated this Act

    • C.

      Seneator Dodd and senator Frank were the two senators that initated this Act

    • D.

      Frank Dodd was the first senator that iniated regulations in the US

    Correct Answer
    B. Seneator Dodd and senator Frank were the two senators who initiated this Act
    Explanation
    Senator Dodd and Senator Frank were the two senators who initiated the Dodd-Frank Act.

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  • 2. 

    What are the 3 names of the Compliance Suites for Trading Floors?

    • A.

      Recording, Replay, Analyze

    • B.

      Capture, Protect, Access

    • C.

      Compliance Essential, Smart Compliance, Proactive Compliance

    • D.

      Expore, Construct, Observe

    Correct Answer
    C. Compliance Essential, Smart Compliance, Proactive Compliance
    Explanation
    The correct answer is Compliance Essential, Smart Compliance, Proactive Compliance. These three names represent different compliance suites that are designed specifically for trading floors. Compliance Essential focuses on the essential compliance needs of trading floors, Smart Compliance offers intelligent and automated compliance solutions, and Proactive Compliance emphasizes proactive monitoring and risk management. Together, these suites provide comprehensive compliance solutions for trading floor operations.

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  • 3. 

    Who within an organisation is targeted for Compliance Essentials and Smart Compliance? (you may select more than 1 answer)

    • A.

      The Voice Manager

    • B.

      The IT Manager

    • C.

      The Compliance Manager

    • D.

      The Risk Manager

    Correct Answer(s)
    A. The Voice Manager
    B. The IT Manager
    Explanation
    Compliance Essentials and Smart Compliance are targeted towards the Voice Manager and IT Manager within an organization. These individuals are responsible for managing and ensuring compliance with regulations and policies related to voice communications and IT systems. The Compliance Manager and Risk Manager may also be involved in compliance efforts, but they are not specifically mentioned as the primary targets for these solutions.

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  • 4. 

    The new Dodd-Frank regulations requires voice calls to be stored in duplicate

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The new Dodd-Frank regulations mandate the storage of voice calls in duplicate. This means that financial institutions and other relevant entities are required to maintain two copies of all voice calls for a certain period of time. Storing voice calls in duplicate helps ensure that there is a backup in case one copy is lost or becomes inaccessible. This requirement aims to enhance transparency, accountability, and regulatory compliance in the financial industry.

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  • 5. 

    Which communication channels must be stored and archived with the new Dodd-Frank regulations? (you may select more than 1 answer)

    • A.

      Voice Calls

    • B.

      E-mails

    • C.

      Chats & Instant Messaging

    • D.

      SMS

    • E.

      All of the above

    Correct Answer
    E. All of the above
    Explanation
    The new Dodd-Frank regulations require the storage and archiving of all communication channels, including voice calls, emails, chats and instant messaging, and SMS. This means that organizations must ensure that they have systems in place to capture and retain records of these communication channels to comply with the regulations.

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  • 6. 

    What is the name of the index that is used for indexing all communication?

    • A.

      Intelligent Interaction Index

    • B.

      Trading Floor Index

    • C.

      Compliance Index

    • D.

      Smart Index

    Correct Answer
    D. Smart Index
    Explanation
    The Smart Index is the correct answer because it is a name that suggests an index specifically designed for indexing all communication. It implies that this index is intelligent and capable of efficiently organizing and categorizing various forms of communication. The other options, such as the Intelligent Interaction Index, Trading Floor Index, and Compliance Index, do not explicitly indicate that they are used for indexing all communication.

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  • 7. 

    What is the date that non-US firms need to comply with Dodd-Frank to continue SWAP trading with the US?

    • A.

      12 October 2012

    • B.

      1 January 2013

    • C.

      12 July 2013

    • D.

      31 December 2013

    Correct Answer
    C. 12 July 2013
    Explanation
    Non-US firms need to comply with Dodd-Frank by 12 July 2013 in order to continue SWAP trading with the US.

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  • 8. 

    How many interactions can be indexed with Proactive Compliance?

    • A.

      10,000

    • B.

      100,000

    • C.

      1 million

    • D.

      No limit

    Correct Answer
    D. No limit
    Explanation
    Proactive Compliance allows for the indexing of an unlimited number of interactions. This means that there is no set limit on the number of interactions that can be indexed using Proactive Compliance. This feature ensures that all interactions can be properly monitored and analyzed for compliance purposes, regardless of the volume or scale of the interactions.

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  • 9. 

    Why is selling Trading Floor applications for Compliance good for you? (you may select more than 1 answer)

    • A.

      Brings additional value to the Recording system

    • B.

      Reaches new contacts within your customers

    • C.

      Stronger lock-in with your customer

    • D.

      Stronger lock-in with your customer

    Correct Answer(s)
    A. Brings additional value to the Recording system
    B. Reaches new contacts within your customers
    D. Stronger lock-in with your customer
    Explanation
    Selling Trading Floor applications for Compliance is good for you because it brings additional value to the Recording system. It also helps you reach new contacts within your customers, expanding your network. Additionally, it strengthens the lock-in with your customer, increasing customer loyalty and making it more difficult for them to switch to a competitor.

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  • 10. 

    Who within an organisation is targeted for Proactive Compliance? (you may select more than 1 answer)

    • A.

      The Voice Manager

    • B.

      The IT Manager

    • C.

      The Compliance Manager

    • D.

      The Risk Manager

    Correct Answer(s)
    C. The Compliance Manager
    D. The Risk Manager
    Explanation
    The Compliance Manager and the Risk Manager are targeted for Proactive Compliance within an organization. These individuals are responsible for ensuring that the organization is compliant with relevant laws, regulations, and industry standards. The Compliance Manager focuses on developing and implementing policies and procedures to ensure compliance, while the Risk Manager identifies and manages potential risks that could impact the organization's operations. Both roles play a crucial role in proactively addressing compliance issues and mitigating risks to protect the organization's reputation and avoid legal and financial consequences.

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