Bank Regulation & ISO 19600 Test

Welcome to your e-assessment.

Number of Questions: 15

Time Allowed: 10 minutes.

You are allowed only one (1) attempt.

Name

Organisation

FATF means:

Financial Act Task Force

Finance Action Task Force

Financial Action Training Force

Financial Action Task Force

None

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

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

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

Normal customers and nothing extra should be done with them

None of the above

None

……………. Is not a global standard setter for AML/CFT Compliance

CBN

FATF

Wolfsberg Group

BIS

None

………….. is not an Instrument of Regulation used by the CBN

Liquidity Ratio

Cash Reserve Ratio

Depositors Road Show

MPR

None

A PND advised by the LEAs can be lifted by

Compliance

Court Order

Branch Leader

Undertaken from Relationship Manager

None

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

To satisfy Law Enforcement Agencies

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

To showcase compliance to customers

To meet the requirements of the law

None

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

a PEP

PEP Associate

a Government Contractor

a Government Contractor and a PEP

None

The sequential order of Money Laundering stages is as follows:

Placement, Integration, Layering

Placement, Willful Blindness, Integration.

Placement, Layering, Integration

.Smurfing, Placement, Integration

None

Money laundering is defined as the:

Process of physical cleaning of dirty money from traces of drugs and cocaine

Conversion or transfer of money, or property knowing it is derived from a criminal offense, for the purpose of concealing or disguising its illicit origin

Process of cleaning money or gold by using special washing machines and detergents

None of the above

None

A request for CDD exemption by a customer could be allowed

If customer is High Networth Individual

In line with policy and approval

If customer is a Tier 3

If customer is known to ED or a PEP

None

ISO 19600 consists of __ sections:

None

Listed below are process of Customer Risk Assessment except?

Risk Identification & Risk Analysis

Mitigation and Control

Monitoring & Review

Report & Archive

None

Customer risk rating is:

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

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

marketing criteria which have nothing to do with combating money laundering.

All the above

None

In compliance terminology, red-flag means?

A term used once the balance is negative or overdue

The standard flag of countries not cooperative in fighting money laundering

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

Listed below are process of Customer Risk Assessment except?

None

One of the strongest factors that brought about regulation of bank in history especially in Nigeria was the need to?

(a) Encourage Government to own bank

(b) Strengthening Governance

(d) B & C

None

1 out of 15

Bank Regulation & ISO 19600 Test

Welcome to your e-assessment.

Title