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Question 1 of 10
1. Question
How a financial institution modify the risk rate of the customer?
Correct
A financial institution modifies the risk rate of the customer cases and suspicious transaction report (STR) filings Receipt of law enforcement request, such as subpoenas.
Incorrect
A financial institution modifies the risk rate of the customer cases and suspicious transaction report (STR) filings Receipt of law enforcement request, such as subpoenas.
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Question 2 of 10
2. Question
What types of clients are an inherently high chance for money laundering?
Correct
The customers which are inherently high risk for money laundering Virtual currency exchanges Broker/dealers in securities.
Incorrect
The customers which are inherently high risk for money laundering Virtual currency exchanges Broker/dealers in securities.
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Question 3 of 10
3. Question
What are the basic elements that must be addressed in an AML/ CFT program?
Correct
The fundamental elements that must be tended to in an AML/ CFT program are a system of internal policies, strategies and controls a designated compliance function with a compliance officer.
Incorrect
The fundamental elements that must be tended to in an AML/ CFT program are a system of internal policies, strategies and controls a designated compliance function with a compliance officer.
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Question 4 of 10
4. Question
What are The foremost important changes made to the Recommendations in 2003?
Correct
The most important changes made to the Recommendations in 2003 are Extended scope to include fear monger financing. Adopted a clearer definition of cash washing predicate offences.
Incorrect
The most important changes made to the Recommendations in 2003 are Extended scope to include fear monger financing. Adopted a clearer definition of cash washing predicate offences.
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Question 5 of 10
5. Question
When should Financial institutions conduct customer due diligence?
Correct
The Financial institutions should conduct client due diligence to Establish commerce relations and Have a doubt of cash washing.
Incorrect
The Financial institutions should conduct client due diligence to Establish commerce relations and Have a doubt of cash washing.
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Question 6 of 10
6. Question
Which two regional organization are comprised of FATF?
Correct
the regional organization are comprised by FATF are the European Commission the Gulf Cooperation Council.
Incorrect
the regional organization are comprised by FATF are the European Commission the Gulf Cooperation Council.
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Question 7 of 10
7. Question
What is The goal of the NCCT process?
Correct
The goal of the NCCT process is to implement measures for the prevention, detection and reduce the vulnerability of the financial system to money laundering.
Incorrect
The goal of the NCCT process is to implement measures for the prevention, detection and reduce the vulnerability of the financial system to money laundering.
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Question 8 of 10
8. Question
Without any due diligence, banks can be subject to?
Correct
Without due diligence, banks can be subject to reputational, operational, legal and concentration risks.
Incorrect
Without due diligence, banks can be subject to reputational, operational, legal and concentration risks.
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Question 9 of 10
9. Question
What are The key elements of a KYC program?
Correct
Customer identification, Risk management is the key elements of a KYC program
Incorrect
Customer identification, Risk management is the key elements of a KYC program
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Question 10 of 10
10. Question
Which of the following are customer identification issues related to higher-risk customers?
Correct
the following are customer identification issues related to higher-risk customers are Trust, nominee and fiduciary accounts Politically exposed, persons.
Incorrect
the following are customer identification issues related to higher-risk customers are Trust, nominee and fiduciary accounts Politically exposed, persons.