Which is the most relevant risk factor for an individual client?

• A.Country of residence
• B.Country of employment
• C.Country of birth
• D.Country of citizenship

Comment: *

Name: *

Email: *

Verification: *

An owner of several trading companies worldwide is advised to register a new company for the legitimate purpose of controlling foreign assets of their trading companies. This new company is commonly referred to as a:

• A.subsidiary company.
• B.special purpose vehicle.
• C.shell company.
• D.holding company.

Comment: *

Name: *

Email: *

Verification: *

What is the advantage of Bearer Shares? (SELECT 3)

• A.They can be held under agreement by professionals as another layer of secrecy.
• B.They can't be traced to a central registry because whoever carries them is the purported owner.
• C.Tax haven countries and their strict secrecy laws can further conceal the true ownership.
• D.They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming
• E.They are a more affordable way of setting up a business in certain countries in the Caribbean.

Comment: *

Name: *

Email: *

Verification: *

In regards to ongoing CDD, financial institutions should ensure:

• A.they apply a risk-based approach on the frequency of customer profile reviews.
• B.a yearly review of information they maintain on all customers for consistency and efficiency.
• C.a thorough CDD process during customer onboarding so that periodic reviews are unnecessary.
• D.the customer profile is reviewed prior to every transaction in order to make sure the information is unchanged or current.

Comment: *

Name: *

Email: *

Verification: *

Once a banking KYC analyst applies CDD onboarding procedures and builds a customer risk profile, ongoing monitoring needs to be implemented for the primary purpose of:

• A.understanding the nature and purpose of the customer relationship.
• B.fulfilling senior management's obligations.
• C.complying with bank's internal policies and procedures.
• D.identifying and reporting suspicious transactions.

Comment: *

Name: *

Email: *

Verification: *