Preview Questions Fraud Analyst | Role Specific Skill

Question 1: In analyzing fraud risk, what does root cause analysis primarily focus on?

Which action should you take?

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Identifying the fundamental reasons behind fraudulent activity

Assessing financial losses caused by fraud

Identifying fraudulent transactions alone

Categorizing types of fraud within the organization

Question 2: What is the most critical factor when identifying suspicious patterns in the financial activities of a client?

Which action should you take?

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Client's geographical location

Unusual timing and frequency of transactions

Client's credit score

Client's account balance

Question 3: What tool is commonly used to conduct a thorough investigation of fraud involving complex financial transactions?

Which action should you take?

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Automated risk assessment systems

Credit score analyzers

Financial transaction monitoring software

Social media monitoring tools

Question 4: What is the most effective method to identify potential risks in automated payment systems?

Which action should you take?

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Risk scoring of automated payment behavior

Using AI to assess transaction legitimacy

Transaction monitoring and anomaly detection

Pattern analysis of payment frequencies

Question 5: In BFSI fraud reporting, which aspect is crucial for minimizing the risk of legal action?

Which action should you take?

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Minimizing details of the incident

Ensuring clarity in the report's purpose

Ensuring reports are done promptly

Focusing on the quantity of transactions

Question 6: What is digital forensics, and how does it assist in fraud investigations?

Which action should you take?

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A method of identifying data entry errors

A technique used to estimate future financial losses

A process of analyzing paper records for discrepancies

The process of recovering, analyzing, and presenting digital evidence