Advanced Test - DataPro Limited

Welcome to your Test.

Number of Questions: 15

Time Allowed: 20 minutes.

You are allowed only one (1) attempt.

Name

Organization

Listed below are process of Customer Risk Assessment except?

a) Risk Identification & Risk Analysis

b) Mitigation and Control

c) Monitoring & Review

d) Report & Archive

A transaction which is beyond a customer’s normal capability & wealth, but which the customer is able to justify with required documents is known as?

a) All of the above

b) Unusual transaction

c) Normal transaction

d) Suspicious transaction

A PND advised by the LEAs can be lifted by

a) Compliance

b) Court Order

c) Branch Leader

d) Undertaken from Relationship Manager

What is the purpose of AML/CFT compliance in banks?

a) To satisfy Law Enforcement Agencies

b) To insulate the bank against the consequences of money laundering and terrorist financing

c) To showcase compliance to customers

d) To meet the requirements of the law

Non-face-to-face customers, FEPs, PEPs are considered as?

a) None of the above

b) High risk customers and we need to closely monitor their accounts / transactions

c) VIP customers and we need to offer them extra care & services

d) Normal customers and nothing extra should be done with them

A request for CDD exemption by a customer could be allowed

a) If customer is High Networth Individual

b) In line with policy and approval

c) If customer is a Tier 3

d) If customer is known to ED or a PEP

Customer risk rating is:

a) Something of great importance as High risk customers need more monitoring and due diligence

b) All of the above

c) marketing criteria which have nothing to do with combating money laundering

d) Not important as banks should treat their customers equally and without discrimination

In compliance terminology, red-flag means?

a) A term used once the balance is negative or overdue

b) The standard flag of countries not cooperative in fighting money laundering

c) None of the above

d) A warning sign used to bring attention to a potentially suspicious or risky transaction/activity

It is illegal to disclose the contents of a Suspicious Transaction Report to.

a) Law Enforcement Agent

b) Staff

c) Nigerian Financial Intelligence Unit

d) Customer

Listed below are controls of Customer Due Diligence i. Prevention ii. Detection iii. Correction iv. Direction

a) None of the above

b) i.ii

c) All of the above

d) I,ii,iv

ABC Limited offers construction services to River state. Therefore, ABC Limited is regarded as

a) a PEP

b) PEP Associate

c) a Government Contractor

d) a Government Contractor and a PEP

Customer Due Diligence regarding A transfer instruction from a customer to a third party requires

a) CDD procedure to cover customer only

b) CDD procedure to cover transfer only

c) CDD procedure to cover customer and Third party only

d) CDD procedure to cover customer, transfer and third party only

The Know Your Customer procedure involves:

a) Verification of customers identity

b) Verification of the origin of the customer

c) Identification of customer’s ID

d) Monitoring the account of the customer

A UBO is?

a) a natural person who controls the mind and the management of another company

b) A natural person that owns 5% and above stake in another company

c) A corporate person that owns 5% and above stake in another company

d) a & b