NO.28 According to a reputable financial news source, a client is being taken over by one of its competitors. The public registry has not yet reflected the ownership change. Which step should the KYC analyst take?

NO.29 An existing customer publicly states she is planning to run for public office, but changes her mind. Which action should a KYC analyst take?

NO.30 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?

NO.31 What is an example of secondary identification in a customers CIP program? (SELECT 3)

NO.32 As part of the source of wealth investigation of a high-net-worth individual, the compliance department at a private bank is tasked with obtaining documentary evidence pertaining to a family trust, through which the client’s assets are controlled. KYC identification efforts should primarily include the:

NO.33 A KYC analyst receives a notification that the Office of Foreign Assets Control (OFAC) has updated its sanctioned entity and individual list. The analyst reviews the list and identifies a current customer. Which step should the analyst take first?

NO.34 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:

NO.35 Is collecting identification a legal requirement in jurisdictions?

NO.36 In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)

NO.37 A KYC analyst suspects a transaction is related to a sanctioned individual. How should the analyst respond?

NO.38 What prohibits US companies and individuals from paying bribes to foreign officials in furtherance of a business deal. It has extraterritorial reach?

NO.39 In relation to account activity, which is an example of tipping off?

NO.40 When performing EDD on a new high-risk customer, which question best informs the decision to move forward with onboarding?

NO.41 Which is the most relevant risk factor for an individual client?

NO.42 In automated screening, a “false positive” match is a match which:

NO.43 What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)

NO.44 What are the two types of Politically Exposed Persons (PEPS) that are identified by The Financial Action Task Force? (SELECT 2)

NO.45 The Source of Funds and the Source of Wealth must be? (SELECT 2)

NO.46 What is the Primary European Union Money Laundering regulation?

NO.47 A person disclosing to any other person, information or any other matter, which is likely to prejudice a money laundering investigation is known to be?

NO.48 An alert is generated by a negative media search system that an existing client is accused of money laundering and is arrested. A KYC analyst assigned to investigate finds no records of a court order or subpoen a. Which is the next action the analyst should take?

NO.49 Which piece of evidence would be a red flag that a customer is a shell company?