Refer to figure.
EASA learning objective 022.03.03.01.02 states: Describe how the direct-reading magnetic compass will only show correct indications during straight, level and unaccelerated flight, and that an error will occur during the following flight manoeuvres (no numerical examples): acceleration and deceleration; turning; during pitch-up or pitch-down manoeuvres.

The direct reading compass (DRC) suffers from indication errors when turning through Northerly or Southerly headings. This is due to the dip of the compass needle causing its centre of gravity to no longer be in line with the acceleration force that's acting through the needle pivot. The theory of turning errors appears to be complicated but it simply means that the indicated heading will either be lagging behind or leading the actual heading when turning through North or South and will indicate normally when turning through Easterly or Westerly headings.

To be able to roll out on the correct heading a pilot must know whether the DRC indications are over-reading (leading) or under-reading (lagging), and by how much, to be able to stop the turn early or late as required.

It's important to note that stopping a turn early before you get to the required indicated heading is called 'Undershooting' and stopping the turn late after passing the required indicated heading is called 'Overshooting'

The easy way to remember these errors is to use the mnemonic NUNOS

In the Northern hemisphere pilots need to Undershoot the heading when turning through North and Overshoot the heading when turning through South

The size of the indication error varies with latitude but is approximately 20° at mid latitudes.

In the Southern hemisphere the errors are reversed so you need to Overshoot the heading when turning through North and Undershoot the heading when turning through South - SONUS

If we apply this technique to the question we can see that when turning left through a northerly heading from 040° to 320° will there be an indication error. A left turn through an easterly heading from 110° to 070° produces no turning error so no correction is required.

Using NUNOS we can determine that we must undershoot the required heading so we stop the turn early when turning from 040 to 320 In this case the pilot would stop the turn when the DRC indicated approximately 340° and as soon as the wings are level the DRC indication will swing round to indicate the correct heading of 320°