How to Prepare for a Compliance Exam When You're Short on Time
The exam notice is in. You have weeks, not months. What do you prioritize so you're not scrambling at the last minute?
This post is a practical checklist: what examiners often ask for first, what to have ready, and the trade-offs between quick wins and long-term fixes when time is short.
What examiners typically ask for early
| Request type | Why it matters | Quick prep |
|---|---|---|
| Policies and procedures | Core of your program | Ensure they're current, dated, and in one place. |
| Organizational chart / roles | Who does what for compliance | Update and have a one-pager ready. |
| List of personnel / access persons | Who’s in scope for trading, etc. | Current list with effective dates. |
| Communications / correspondence | Sampling and supervision | Know where archives live; test a search. |
| Marketing and advertising | What you’ve sent and how it was approved | Inventory and approval trail. |
| Personal trading / OBA | Attestations, pre-approvals, violations | Pull attestations and any exception reports. |
| Filings | ADV, BD forms, amendments | Confirm all required filings are current and accurate. |
Having these organized and findable in the first week reduces stress and signals that your program is under control.
Week-by-week priorities (when you have ~4 weeks)
| Week | Focus |
|---|---|
| 1 | Gather and organize: policies, org chart, personnel lists, filing index. Fix any obvious gaps (e.g. missing policy, outdated ADV). |
| 2 | Communications and marketing: confirm archive works, run sample searches, pull a sample of approved ads. Document your supervision process. |
| 3 | Employee compliance: attestations, pre-approvals, outside business. Ensure you can produce on request. |
| 4 | Dry run: have someone ask for 3–5 items as if they were examiners. Time how long it takes to produce. Fix bottlenecks. |
If you have less time, compress: do policies and org first, then communications and attestations, then a quick dry run.
Quick wins vs long-term fixes
| Quick win | Long-term fix |
|---|---|
| Organize existing records into a single folder or index | Implement an archive and compliance platform so next exam is easier |
| Update policy dates and sign-offs | Annual policy review process with calendar reminders |
| Pull attestations and document “we reminded them” | Automated attestation and reminder workflow |
| Run a sample search in your archive to confirm it works | WORM-compliant archive with search and retention built in |
When you're short on time, do the quick wins so you can respond to the exam. After the exam, invest in the long-term fixes so the next cycle is smoother.
What to avoid when you're short on time
- Don’t rewrite every policy from scratch; update and date what you have unless it’s wrong.
- Don’t promise examiners systems or reports you don’t have; be honest and produce what you can.
- Don’t ignore the request list; respond by the deadline and ask for clarification if needed.
- Don’t leave communications or attestations for the last day; those are common request items.
FAQ
We use spreadsheets for attestations. Is that okay?
Examiners care that you have a process and evidence. Spreadsheets can work if they’re complete, dated, and you can explain how you use them. For the future, consider a system that gives you a clear audit trail.
What if we find a gap while preparing?
Document it, fix it if you can before the exam, and be ready to explain what you found and what you’re doing about it. Transparency and remediation often matter more than perfection.
How do we “test” our archive?
Run searches examiners might run (e.g. by person, date range, keyword). Time how long it takes to export or produce. If it’s slow or broken, fix it or have a clear explanation.
Bottom line
When you're short on time, focus on policies, org/personnel, communications, and attestations—and make sure you can produce them quickly. Quick wins get you through this exam; long-term fixes make the next one easier.
See how Cudara keeps you exam-ready — archiving, employee compliance, and audit trails in one place.