Exam for engine

QUESTION 12
Are Immediate family members, relatives, and close associates of PEPS classified as PEPS?

QUESTION 13
The ownership of a legal person is often described as having two prongs. The first one is the beneficial owner, this is the natural or legal person who owns the entity and who benefits from its activities. The second one is called?

QUESTION 14
Jurisdictions with high risk usually have (SELECT 4)

QUESTION 15
What are the two types of Politically Exposed Persons (PEPS) that are identified by The Financial Action Task Force? (SELECT 2)

QUESTION 16
Financial Institutions include? (SELECT 2)

QUESTION 17
Shell companies can only be established as single purpose entities?

QUESTION 18
What is a regional risk (SELECT 3)

QUESTION 19
If you need to reach out to the client for more information and/or verification regarding the Enhanced Due Diligence (EDD) Process. should the KYC employee reach out directly to the client themselves and not the a relationship manager or equivalent.

QUESTION 20
If an organization suspects that a customer is laundering money, or committing other types of financial crime, it has a duty to report it to the authorities? (TRUE OR FALSE)

QUESTION 21
For secondary forms of non-documentary verification. Is the act of someone from the institution ringing up the individual and confirming the verification sufficient?

QUESTION 22
What is legal risk? (SELECT 2)

QUESTION 23
What of the following countries are considered Tax Havens? (SELECT 2)

QUESTION 24
What are key risks in Financial Crime Prevention Control? (SELECT 3)

QUESTION 25
Control activities in financial crime prevention include? (SELECT 3)

QUESTION 26
For benefitial ownership, the exact account-opening procedures and customer acceptance policies will depend on the type of? (SELECT 3)

QUESTION 27
Who is your customer?

QUESTION 28
What industries are often exploited by criminals (SELECT 3)

QUESTION 29
What is an example of secondary identification in a customers CIP program? (SELECT 3)

QUESTION 30
CDD encompasses the entire lifecycle of due diligence?

QUESTION 31
Who will review KYC files to determine whether you are complying with your jurisdiction’s laws and regulations

QUESTION 32
The five components of the internal control framework are the overall control environment are risk assessment, control activities, communication, regulations, quality assurance?

QUESTION 33
Why can Trusts pose a higher risk from a financial crime perspective?

QUESTION 34
If a customer is a PEP and they are using private wealth services from banks, and also appear to have obtained a fair amount of wealth is this a red flag?