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?

Choose only one option

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: Which method is most effective in identifying fraud risks associated with account takeovers?

Which action should you take?

Choose only one option

Checking the frequency of wire transfers

Identifying customers who have filed complaints

Monitoring login attempts and device fingerprinting

Analyzing account balance changes

Question 3: The CFTC (Commodity Futures Trading Commission) regulates which type of financial market?

Which action should you take?

Choose only one option

Real estate investment markets

Foreign exchange markets

Derivatives and commodity futures

Equity markets

Question 4: What is the most common method for detecting identity theft in BFSI?

Which action should you take?

Choose only one option

Real-time monitoring of account transactions

Matching user activity with previous transaction histories

Cross-checking data across multiple sources

Use of facial recognition for verification

Question 5: When analyzing a large dataset for fraud, which is the best method to reduce false positives while maintaining high detection rates?

Which action should you take?

Choose only one option

Feature engineering and selection

Use of decision trees with pruning

Regularization techniques in predictive models

Cross-validation of classification models

Question 6: What is the main advantage of using AI-driven fraud detection during the investigative process?

Which action should you take?

Choose only one option

The ability to process large volumes of data and identify subtle patterns

Simplicity and ease of understanding for investigators

The ability to use historical data exclusively for analysis

Reduced cost and time for manual analysis