5.4

Question 1

5 consequences of noncompliance

Answer 1

Fines
Sanctions
Reputational damage
Loss of license
Contractual impacts (some business deals require minimum level of compliance)

Question 2

The ongoing process of internal efforts to ensure compliance in day-to-day operations

Answer 2

Compliance monitoring

Question 3

The duty to act honestly and in good faith in internal activities (regulatory compliance)

Answer 3

Due care

Question 4

The duty to act honestly and in good faith when vetting third-parties and their activities (regulatory compliance)

Answer 4

Due diligence

Question 5

The act of an executive signing off on formal compliance documentation. This person is then responsible if the documentation is incorrect

Answer 5

Attestation and acknowledgement

Question 6

Compliance monitoring can be ____ or ____.

Answer 6

Internal

External

Question 7

The individual who the PII data is about

Answer 7

Data subject

Question 8

The individual who is responsible for the data

Answer 8

Data owner

Question 9

The entity who manages the purposes and means by which personal data is processed

Answer 9

Data controller

Question 10

The entity who processes data on behalf of the data controller

Answer 10

Data processor

Question 11

The right for data subjects to control how, when, and where their data is stored and processed, including the right to ask that their data is deleted.

Answer 11

Right to be forgotten

Question 12

A listing of all managed data that the company stores and collects.

Includes the owner of the data, the update frequency, and the format of that data.

Answer 12

Data inventory

Question 13

The act of using stored data for project collaboration, IT security, data quality checks, etc.

Answer 13

Internal use

Question 14

The act of using stored data to share with a third party. This requires the company to carefully follow existing laws and regulations regarding data privacy.

Answer 14

External use