Scribd Logo
Upload

Welcome to Scribd!

  • Chapter 1 - AML Quiz

    Uploaded by

    Shah Faiz
    2K views5 pages
    The document is a summary of a student's completion of an AML regulations and policy quiz for a CKAS chapter 1 course. It shows the student scored 28/30 (93%) by answering 14 out of 15 questions correctly. The quiz covered topics like money laundering processes, PEPs, KYC/CDD procedures, and regulatory guidelines around suspicious transactions and providing customer information to correspondent banks.

    Original Description:

    Anti Money Laundering

    Original Title

    Chapter 1_ AML Quiz

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document is a summary of a student's completion of an AML regulations and policy quiz for a CKAS chapter 1 course. It shows the student scored 28/30 (93%) by answering 14 out of 15 questions correctly. The quiz covered topics like money laundering processes, PEPs, KYC/CDD procedures, and regulatory guidelines around suspicious transactions and providing customer information to correspondent banks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    2K views5 pages

    Chapter 1 - AML Quiz

    Uploaded by

    Shah Faiz
    The document is a summary of a student's completion of an AML regulations and policy quiz for a CKAS chapter 1 course. It shows the student scored 28/30 (93%) by answering 14 out of 15 questions correctly. The quiz covered topics like money laundering processes, PEPs, KYC/CDD procedures, and regulatory guidelines around suspicious transactions and providing customer information to correspondent banks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 5

    Dashboard ► My courses ► CKAS ► Chapter 1: AML Regulations and Policy ► Chapter 1: AML Quiz

    Started on Thursday, 21 February 2019, 4:28 PM


    State Finished
    Completed on Thursday, 21 February 2019, 4:55 PM
    Time taken 27 mins 8 secs
    Grade 28.00 out of 30.00 (93%)

    Question 1
    Under no circumstances business should enter into a relationship with any
    Complete individual or organization or entity that is named under SDN/Black list. What
    Mark 2.00 out of is the risk behind this?
    2.00
    Select one:
    a. Credit Risk

    b. Market Risk

    c. Regulatory and reputational Risk

    Question 2 Who advised through regulations the following statement, "Banks shall
    Complete ensure in regard of AML/CFT that their business is conducted in conformity
    with high ethical standards and that banking laws and regulations are
    Mark 2.00 out of
    adhered to"?
    2.00

    Select one:
    a. FBR

    b. Ministry of Finance

    c. SBP

    Question 3 As defined under AML/CFT regulations, Occasional/Walk-in Customer


    Complete means?

    Mark 2.00 out of


    Select one:
    2.00
    a. Having no relationship with specific branch but bank

    b. Having no relationship with bank

    c. None of the given options


    Question 4
    In context with the AML/CFT guidelines of the regulator, the word CDD is
    Complete defined as what?
    Mark 2.00 out of
    2.00 Select one:
    a. Corporate Due diligence
    b. Contract Due diligence

    c. Customer Due diligence

    Question 5 In context of AML/CFT regulations, why should bank pay special attention on
    Complete large and complex transactions, which in fact may generate more revenue
    for the bank as compare to small transactions?
    Mark 2.00 out of
    2.00
    Select one:
    a. Because these always pertains to Corporate Customers.

    b. Large and complex transactions may be more risky than other


    transactions

    c. To ensure our customers shall not withdraw their deposit

    Question 6 Employees who violate any of the AML/CFT regulations or the policies and
    Complete procedures outlined in the KYC-AML Handbook will be subjected to?

    Mark 2.00 out of


    Select one:
    2.00
    a. Disciplinary action

    b. Post-facto approval of respective business head for the said


    violation

    c. propose change in relevant procedure in handbook


    Question 7 Could MCB Islamic Bank provide about their customer information to our
    Complete correspondent bank in London or Munich?

    Mark 2.00 out of


    Select one:
    2.00
    a. No, we cannot provide our customer info to our correspondent
    bank as it is against the law.

    b.
    Yes, we are bound to provide our customer info to our correspondent
    bank.

    c. We have to take advice from SBP before providing any info to


    correspondent bank outside Pakistan.

    Question 8 Copies of CNICs of prospective customers wherever required shall invariably


    Complete be verified from NADRA within a week after opening the account. What do
    you say?
    Mark 2.00 out of
    2.00
    Select one:
    a. False

    b.
    within 5 days

    c. within 3 days

    Question 9
    What is the first stage of Money laundering?
    Complete

    Mark 2.00 out of Select one:


    2.00 a. Layering

    b. Integration

    c. None of a & b
    Question 10
    What are those individuals called in regulatory terms, who are or have been
    Complete entrusted with prominent public functions, including head of states or
    Mark 2.00 out of government, senior politicians, judicial or military officials, senior executives
    2.00 of publicly owned corporations?

    Select one:
    a. Valuable Persons

    b. High Net worth Persons

    c. PEPs

    Question 11
    KYC / Customers due Diligence is one time exercise to be done strictly at the
    Complete time of account opening. Is it TRUE?
    Mark 2.00 out of
    2.00 Select one:
    a. TRUE- Only for Medium risk accounts

    b. FALSE
    c. TRUE

    Question 12 At integration stage, the money launderers place/take the laundered funds
    Complete back into the banking system / economy?

    Mark 0.00 out of


    Select one:
    2.00
    a. FALSE
    b. TRUE

    c. None of the given options

    Question 13
    As per AML/CFT Regulation R4 (STRs/CTRs), Banks are advised to implement
    Complete systems which could flag out of what?
    Mark 2.00 out of
    2.00 Select one:
    a. Pattern of transactions for reporting suspicious transactions

    b. Any fraudulent activity in the bank


    c. Any shortcomings in A/c Opening & KYC documentation
    Question 14 What action can you take on a prospective business where all of the
    Complete required information related to KYC/CDD/EDD cannot be obtained without a
    justifiable reason?
    Mark 2.00 out of
    2.00
    Select one:
    a. Try to obtain the information within a week after A/C Opening
    b. May decline the Relationship

    c. Must get the information before issuance of cheque book

    Question 15 In Money Laundering Process the source of funds will always be linked with
    Complete a………………….

    Mark 2.00 out of


    Select one:
    2.00
    a. legitimate  source
    b. Illegitimate source

    c. May be both a & b

    You might also like