KYC ASSESSMENT

Welcome to your Assessment.

Number of Questions: 10

Time Allowed: 10 minutes.

You are allowed only one (1) attempt.

Name

Organisation

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

None

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

None

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

None

What are the work-flow for Risk Based Approach?

a. Risk Identification, Risk Analysis & Measurement

b. Risk Review

c. Risk Mitigation and Implementation of Control

d. A & C above

e. All of the above

None

What are the pillars of Customer Due Diligence?

a. Customer Acceptance Policy & Customer Identification Procedure

b. Transaction Monitoring System & Risk Management

c. Proliferation of weapons of mass destruction & Legal framework

d. A & B above

None

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

None

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

None

A PND advised by the LEAs can be lifted by

a. Compliance

b. Court Order

c. Branch Leader

d. Undertaken from Relationship Manager

None

Customer risk rating is:

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

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

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

d. All of the above

None

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.

None

1 out of 10

Welcome to your Assessment.

Title