Which section of the CCUIA exam most likely tests knowledge on governance frameworks?

The section related to Risk Management and Governance is the one that specifically tests knowledge on governance frameworks. Governance frameworks encompass the structures, policies, and processes that guide how an organization operates and makes decisions. These frameworks are essential for ensuring that the organization adheres to regulations and achieves its objectives effectively and ethically.

In the context of credit unions, understanding governance is crucial, as it directly impacts risk management, compliance, and overall organizational performance. This section would cover topics such as the roles of the board of directors, management responsibilities, compliance with laws and regulations, and the importance of internal controls in maintaining effective governance.

While financial reporting, IT auditing, and member services may touch upon certain aspects of governance or risk, they do not concentrate specifically on governance frameworks in the same way that the risk management and governance section does. Financial reporting primarily focuses on the accuracy and reliability of financial statements; IT auditing relates to the controls and security of information systems; and member services deal with the interactions and perceptions of credit union members. Therefore, these sections would not be the best fit for testing knowledge on governance frameworks.