Subject Title - INSETA

Compliance reports must be submitted to the Registrar and thecompliance officer is required to report on all aspects of the FAISbusiness.Self-Assessment QuestionsPlease note that the questions which follow are formative in nature. Thequestions were not developed by the FSB‟s examination bodies and as suchcannot be used as an indication of the nature/structure/level of the questionsthat you will encounter in the FSB‟s regulatory examination.1. Compliance officers are appointed:a) by the FSP and approved by the FSBb) and approved by the FSBc) and approved by the FSPd) None of the above2. The duties of a compliance officer include:a) monitoring compliance with the FAIS Actb) appointing key individualsc) supervising the compliance functiond) a) and c)3. The compliance report requires the following information:a) Information about how the FSP manages conflicts of interestsb) Information about the FSPs adherence to the riskmanagement requirements in the General Codec) Information about the advertising practices of the FSPd) All the above4. The primary goal of internal audit is to:a) ensure compliance with the FAIS Actb) ensure compliance with all legislationc) only evaluate the company‟s risk management, internalcontrol and corporate governance processesd) evaluate the company‟s risk management, internal controland corporate governance processes and ensure that theyare adequate and are functioning correctly188 © INSETA - Section 1 12a