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[kinjalgandhi]

Could you please help with below mcqs:

1. Which is NOT a valid form of non-documentary verification?

• Credit report

• Newspaper article

• Company registry

• Placing a phone call to the provided phone number


2. Why is it important to understand what an account will be used for and its anticipated activity?

• Because regulations say anticipated activity is necessary

• To determine reasonable levels and anticipated types of activity—thereby setting a standard of reasonable and legitimate activity

• To satisfy the compliance department

• To exactly predict customer activity and report all activity outside of those parameters



3. When banking an MSB it is important to:

• Perform adequate CDD and ensure that the MSB has appropriate controls in place

• Identify all of the MSB's customers

• Regularly file suspicious activity reports (SARs) on their activity

• Reject transactions made near an international border


4. Trusts must be registered with a public registry.

• TRUE

• FALSE

5. AML research takes into account the morality of a person's actions.

• TRUE

• FALSE



6. Which task can be best accomplished by using a government corporate registry online database?

• To learn how to spot corruption in national procurement transactions

• To assess the corruption risk of a jurisdiction

• To identify websites run by suspected terrorist organizations

• To check the status of a legal person in financial services