A compliance analyst is tasked with testing whether the bank's loan approval process adheres to internal credit risk policies. The analyst must define the scope, criteria, and procedures for the test. Which of the following is the most appropriate first step in planning this compliance test?

Collect a sample of loan files and evaluate them against the credit risk policy.

Report the findings to the credit risk committee for review.

Identify the specific regulatory requirements and internal policies that apply to the loan approval process.

Select a testing approach, such as risk-based or data-driven, without further analysis.

During a compliance test of trade surveillance controls, the tester finds that the system's audit logs are incomplete for a two-week period. The tester is considering whether to use the available logs as evidence. What is the most appropriate action?

Reject the logs as insufficient evidence and report the gap as a finding.

Use the logs as evidence but note the limitation in the final report.

Extend the testing period to cover the gap and re-test the controls.

Supplement the logs with interviews with the surveillance team to fill the gap.

What is the primary purpose of the final report in compliance testing?

To provide a record of all evidence collected during the test

To communicate findings, risks, and recommendations to stakeholders

To document the test procedures for future reference

To justify the budget allocated for the compliance testing function

Certified Tester Finance Testing

Domain 2Objective 1

Compliance Testing Objectives and Approaches CT-FT Practice Questions (Page 3)

Part of the Compliance Testing domain, which makes up ~23% of our current practice bank. ISTQB does not publish an official question count, but from its 60-minute exam (~25–40 total, ~6–9 in this domain), expect 1–2 from this objective — we provide 24 practice questions to prepare you well beyond it. (estimate)

24questions here

5free pages

6concepts

Questions 11–15

11application · medium
A compliance analyst is tasked with testing whether the bank's loan approval process adheres to internal credit risk policies. The analyst must define the scope, criteria, and procedures for the test. Which of the following is the most appropriate first step in planning this compliance test?
Select an answer first
12foundation · easy
What is the first step in planning a compliance test?
Select an answer first
13application · medium
During a compliance test of trade surveillance controls, the tester finds that the system's audit logs are incomplete for a two-week period. The tester is considering whether to use the available logs as evidence. What is the most appropriate action?
Select an answer first
14foundation · easy
Which element of a compliance test design specifies the conditions that must be met for the test to pass?
Select an answer first
15foundation · easy
What is the primary purpose of the final report in compliance testing?
Select an answer first

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Compliance Testing Objectives and Approaches CT-FT Practice Questions (Page 3)

Questions 11–15

A compliance analyst is tasked with testing whether the bank's loan approval process adheres to internal credit risk policies. The analyst must define the scope, criteria, and procedures for the test. Which of the following is the most appropriate first step in planning this compliance test?

What is the first step in planning a compliance test?

During a compliance test of trade surveillance controls, the tester finds that the system's audit logs are incomplete for a two-week period. The tester is considering whether to use the available logs as evidence. What is the most appropriate action?

Which element of a compliance test design specifies the conditions that must be met for the test to pass?

What is the primary purpose of the final report in compliance testing?

Keep studying — Compliance Testing