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Question 1 of 30
1. Question
In FATF, what does happen in the placement stage of Anti-money laundering (AML)?
Correct
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. The placement stage represents the initial entry of the “dirty” cash or proceeds of crime into the financial system. Generally, this stage serves two purposes:-
(A) It relieves the criminal of holding and guarding large amounts of bulky of cash
(B) It places the money into the legitimate financial systemIncorrect
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. The placement stage represents the initial entry of the “dirty” cash or proceeds of crime into the financial system. Generally, this stage serves two purposes:-
(A) It relieves the criminal of holding and guarding large amounts of bulky of cash
(B) It places the money into the legitimate financial system -
Question 2 of 30
2. Question
In FATF, in the three stages of Anti-money laundering (AML), which stage represents the initial entry of the “dirty” cash or proceeds of crime into the financial system.?
Correct
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. The placement stage represents the initial entry of the “dirty” cash or proceeds of crime into the financial system. Generally, this stage serves two purposes:-
(A) It relieves the criminal of holding and guarding large amounts of bulky of cash
(B) It places the money into the legitimate financial systemIncorrect
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. The placement stage represents the initial entry of the “dirty” cash or proceeds of crime into the financial system. Generally, this stage serves two purposes:-
(A) It relieves the criminal of holding and guarding large amounts of bulky of cash
(B) It places the money into the legitimate financial system -
Question 3 of 30
3. Question
In FATF, what does happen in Integration Stage of Anti-money laundering (AML)?
Correct
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. Integration Stage is the final stage of the money laundering process. This involves the process to get the funds back to the criminal from what seems to be a reputable source. After placing and layering the cash into the financial system, the funds become integrated.
Incorrect
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. Integration Stage is the final stage of the money laundering process. This involves the process to get the funds back to the criminal from what seems to be a reputable source. After placing and layering the cash into the financial system, the funds become integrated.
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Question 4 of 30
4. Question
In FATF, in the three stages of Anti-money laundering (AML), which stage involves the process to get the funds back to the criminal from what seems to be a reputable source?
Correct
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. Integration Stage is the final stage of the money laundering process. This involves the process to get the funds back to the criminal from what seems to be a reputable source. After placing and layering the cash into the financial system, the funds become integrated.
Incorrect
There are three stages of anti-money laundering are Placement Stage, Layering Stage, Integration Stage. Integration Stage is the final stage of the money laundering process. This involves the process to get the funds back to the criminal from what seems to be a reputable source. After placing and layering the cash into the financial system, the funds become integrated.
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Question 5 of 30
5. Question
In FATF, in the three stages of Anti-money laundering (AML), what is the first step of money laundering?
Correct
Money laundering involves three steps: The first involves introducing cash into the financial system by some means (“placement”); the second involves carrying out complex financial transactions to camouflage the illegal source of the cash (“layering”); and finally, acquiring wealth generated from the transactions of illegal sources.
Incorrect
Money laundering involves three steps: The first involves introducing cash into the financial system by some means (“placement”); the second involves carrying out complex financial transactions to camouflage the illegal source of the cash (“layering”); and finally, acquiring wealth generated from the transactions of illegal sources.
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Question 6 of 30
6. Question
In FATF, which thing is the process where relevant information about the customer is collected and evaluated for any potential risk for the organization or money laundering/terrorist financing activities?
Correct
Customer Due Diligence or CDD, is the process where relevant information about the customer is collected and evaluated for any potential risk for the organization or money laundering/terrorist financing activities.
Incorrect
Customer Due Diligence or CDD, is the process where relevant information about the customer is collected and evaluated for any potential risk for the organization or money laundering/terrorist financing activities.
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Question 7 of 30
7. Question
In FATF, what is Customer Due Diligence (CDD)?
Correct
Customer Due Diligence or CDD is a process, where relevant information about a customer is collected and subsequently evaluated to determine the risk of money laundering. In this process, the criminal entities enter the business ecosystem as a customer, investor or vendor.
Incorrect
Customer Due Diligence or CDD is a process, where relevant information about a customer is collected and subsequently evaluated to determine the risk of money laundering. In this process, the criminal entities enter the business ecosystem as a customer, investor or vendor.
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Question 8 of 30
8. Question
In FATF, from the three levels of Customer Due Diligence, What is standard due diligence?
I. It requires you to identify your customer as well as verify their identity
II. It is required where there is a low risk of money laundering and terrorist financing
III. It is the lowest level of due diligence that can be completed on a customer
IV. This means obtaining a customer’s name, photograph on an official documentCorrect
Standard due diligence requires you to identify your customer as well as verify their identity. This means obtaining a customer’s name, photograph on an official document. This due diligence should provide you with confidence that you know who your customer is and that your service or product is not being used as a tool to launder money or any other criminal activity.
Incorrect
Standard due diligence requires you to identify your customer as well as verify their identity. This means obtaining a customer’s name, photograph on an official document. This due diligence should provide you with confidence that you know who your customer is and that your service or product is not being used as a tool to launder money or any other criminal activity.
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Question 9 of 30
9. Question
In FATF, from the three levels of Customer Due Diligence, Which level requires you to identify your customer as well as verify their identity?
Correct
Standard due diligence requires you to identify your customer as well as verify their identity. This means obtaining a customer’s name, photograph on an official document. This due diligence should provide you with confidence that you know who your customer is and that your service or product is not being used as a tool to launder money or any other criminal activity.
Incorrect
Standard due diligence requires you to identify your customer as well as verify their identity. This means obtaining a customer’s name, photograph on an official document. This due diligence should provide you with confidence that you know who your customer is and that your service or product is not being used as a tool to launder money or any other criminal activity.
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Question 10 of 30
10. Question
In FATF, From the three levels of Customer Due Diligence, what is simplified due diligence?
I. It is the lowest level of due diligence that can be completed on a customer.
II. This means obtaining a customer’s name, photograph on an official document.
III. It is appropriate where there is little opportunity or risk of your services or customer becoming involved in money laundering.
IV. It is appropriate where there is little opportunity or risk of your services or customer becoming involved in terrorist financing.Correct
Simplified due diligence is the lowest level of due diligence that can be completed on a customer. This is appropriate where there is little opportunity or risk of your services or customer becoming involved in money laundering or terrorist financing.
Incorrect
Simplified due diligence is the lowest level of due diligence that can be completed on a customer. This is appropriate where there is little opportunity or risk of your services or customer becoming involved in money laundering or terrorist financing.
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Question 11 of 30
11. Question
In FATF, from the three levels of Customer Due Diligence, which level is appropriate where there is little opportunity or risk of your services or customer becoming involved in money laundering or terrorist financing.?
Correct
Simplified due diligence is the lowest level of due diligence that can be completed on a customer. This is appropriate where there is little opportunity or risk of your services or customer becoming involved in money laundering or terrorist financing.
Incorrect
Simplified due diligence is the lowest level of due diligence that can be completed on a customer. This is appropriate where there is little opportunity or risk of your services or customer becoming involved in money laundering or terrorist financing.
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Question 12 of 30
12. Question
In FATF, From the three levels of Customer Due Diligence, what is enhanced due diligence?
Correct
Enhanced Due Diligence is additional information collected for higher-risk customers to provide a deeper understanding of customer activity to mitigate associated risks. Customer risk assessments can be used to determine which level of due diligence to apply.
Incorrect
Enhanced Due Diligence is additional information collected for higher-risk customers to provide a deeper understanding of customer activity to mitigate associated risks. Customer risk assessments can be used to determine which level of due diligence to apply.
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Question 13 of 30
13. Question
In FATF, from the three levels of Customer Due Diligence, Which level is additional information collected for higher-risk customers to provide a deeper understanding of customer activity to mitigate associated risks?
Correct
Enhanced Due Diligence is additional information collected for higher-risk customers to provide a deeper understanding of customer activity to mitigate associated risks. Customer risk assessments can be used to determine which level of due diligence to apply.
Incorrect
Enhanced Due Diligence is additional information collected for higher-risk customers to provide a deeper understanding of customer activity to mitigate associated risks. Customer risk assessments can be used to determine which level of due diligence to apply.
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Question 14 of 30
14. Question
In FATF, from the three levels of Customer Due Diligence, what is due diligence in banking?
I. It is a process of verification opportunity to confirm all relevant facts and financial information.
II. It is a process of investment opportunity to confirm all relevant facts and financial information.
III. It means obtaining a customer’s name, photograph on an official document.
IV. It is a process of an audit of a potential deal opportunity to confirm all relevant facts and financial information.Correct
Due diligence is a process of verification, investigation, or audit of a potential deal or investment opportunity to confirm all relevant facts and financial information. When looking at a career in the capital markets, it’s important to understand if you’re a better fit for investment banking or equity research.
Incorrect
Due diligence is a process of verification, investigation, or audit of a potential deal or investment opportunity to confirm all relevant facts and financial information. When looking at a career in the capital markets, it’s important to understand if you’re a better fit for investment banking or equity research.
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Question 15 of 30
15. Question
In FATF, what is initial coin offering (ICO)?
Correct
An Initial Coin Offering (ICO) is the cryptocurrency industry’s equivalent to an Initial Public Offering (IPO). ICOs act as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO.
Incorrect
An Initial Coin Offering (ICO) is the cryptocurrency industry’s equivalent to an Initial Public Offering (IPO). ICOs act as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO.
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Question 16 of 30
16. Question
In FATF, which one is the cryptocurrency industry’s equivalent to an Initial Public Offering (IPO)?
Correct
An Initial Coin Offering (ICO) is the cryptocurrency industry’s equivalent to an Initial Public Offering (IPO). ICOs act as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO.
Incorrect
An Initial Coin Offering (ICO) is the cryptocurrency industry’s equivalent to an Initial Public Offering (IPO). ICOs act as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO.
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Question 17 of 30
17. Question
In FATF, which one acts as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO?
Correct
An Initial Coin Offering (ICO) is the cryptocurrency industry’s equivalent to an Initial Public Offering (IPO). ICOs act as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO.
Incorrect
An Initial Coin Offering (ICO) is the cryptocurrency industry’s equivalent to an Initial Public Offering (IPO). ICOs act as a way to raise funds, where a company looking to raise money to create a new coin, app, or service launches an ICO.
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Question 18 of 30
18. Question
In FATF, how do you make money from ICO tokens?
I. Do your Research, Invest in a Good Coin
II. Don’t miss the bonus tokens
III. Hold, Sell, Repeat
IV. Invest whole your earningsCorrect
Money can be made from ICO tokens by
(A) Doing Research
(B) Invest in a Good Coin
(C) Don’t miss the bonus tokens
(D) Hold, Sell, Repeat.
(E) Know the Risks.Incorrect
Money can be made from ICO tokens by
(A) Doing Research
(B) Invest in a Good Coin
(C) Don’t miss the bonus tokens
(D) Hold, Sell, Repeat.
(E) Know the Risks. -
Question 19 of 30
19. Question
In FATF, what are the types of Initial Coin Offering (ICO)?
I. Private ICO.
II. Public ICO.
III. Govt ICO.
IV. Personal ICO.Correct
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public.Incorrect
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public. -
Question 20 of 30
20. Question
In FATF, in which type of Initial Coin Offering (ICO), only a limited number of investors can participate in the process?
Correct
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public.Incorrect
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public. -
Question 21 of 30
21. Question
In FATF, which type of Initial Coin Offering (ICO) is a form of crowdfunding that targets the general public.?
Correct
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public.Incorrect
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public. -
Question 22 of 30
22. Question
In FATF, the two types of initial coin offerings, what is happened in Private ICO?
Correct
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public.Incorrect
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public. -
Question 23 of 30
23. Question
In FATF, the two types of initial coin offerings, what is happened in Public ICOs?
Correct
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public.Incorrect
The two types of initial coin offerings are listed below:-
(A) Private ICO. In private initial coin offerings, only a limited number of investors can participate in the process.
(B) Public ICOs. Public initial coin offerings are a form of crowdfunding that targets the general public. -
Question 24 of 30
24. Question
In FATF, the two types of initial coin offerings, what are the benefits of Cryptocurrency?
I. Transaction fees are lower with bitcoin than with credit cards, and when cryptocurrency is not exchanged, it also eliminates the need for bank charges
II. A payment made with bitcoin can be reversed after the fact
III. A payment made with bitcoin cannot be reversed after the fact
IV. Transaction fees are upper with bitcoin than with credit cards, and when cryptocurrency is not exchanged, it also eliminates the need for bank chargesCorrect
TIn FATF, from The two types of initial coin offerings, the business benefits of cryptocurrency are-
(A) Lower fees – Transaction fees are lower with bitcoin than with credit cards, and when cryptocurrency is not exchanged, it also eliminates the need for bank charges
(B) Fraud reduction – A payment made with bitcoin cannot be reversed after the factIncorrect
TIn FATF, from The two types of initial coin offerings, the business benefits of cryptocurrency are-
(A) Lower fees – Transaction fees are lower with bitcoin than with credit cards, and when cryptocurrency is not exchanged, it also eliminates the need for bank charges
(B) Fraud reduction – A payment made with bitcoin cannot be reversed after the fact -
Question 25 of 30
25. Question
In FATF, what is a money service business(MSB)?
Correct
A money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money. The definition was created to encompass more than just banks which normally provide these services to include non-bank financial institutions.
Incorrect
A money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money. The definition was created to encompass more than just banks which normally provide these services to include non-bank financial institutions.
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Question 26 of 30
26. Question
In FATF, which administration is a legal term used by financial regulators to describe businesses that transmit or convert money?
Correct
A money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money. The definition was created to encompass more than just banks which normally provide these services to include non-bank financial institutions.
Incorrect
A money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money. The definition was created to encompass more than just banks which normally provide these services to include non-bank financial institutions.
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Question 27 of 30
27. Question
In Initial Coin Offering (ICO), what are the disadvantages of cryptocurrencies?
I. Probably the biggest concerns with cryptocurrencies are the problems with scaling that are posed.
II. It is an illegal term used by financial regulators to describe businesses that transmit or receives money.
III. Cybersecurity issues.
IV. Price volatility and lack of inherent value.Correct
In Initial Coin Offering (ICO), follwoing are the disadvantages of cryptocurrencies:-
(A) Scalability. Probably the biggest concerns with cryptocurrencies are the problems with scaling that are posed
(B) Cybersecurity issues
(C) Price volatility and lack of inherent value
(D) RegulationsIncorrect
In Initial Coin Offering (ICO), follwoing are the disadvantages of cryptocurrencies:-
(A) Scalability. Probably the biggest concerns with cryptocurrencies are the problems with scaling that are posed
(B) Cybersecurity issues
(C) Price volatility and lack of inherent value
(D) Regulations -
Question 28 of 30
28. Question
According to the FATF, which administration refers to financial services that involve the acceptance of cash, cheques, other monetary instruments?
Correct
According to the FATF, “money or value transfer services (MVTS) refers to financial services that involve the acceptance of cash, cheques, other monetary instruments or other stores of value and the payment of a corresponding sum in cash or other forms to a beneficiary by means of communication, message or transfer.
Incorrect
According to the FATF, “money or value transfer services (MVTS) refers to financial services that involve the acceptance of cash, cheques, other monetary instruments or other stores of value and the payment of a corresponding sum in cash or other forms to a beneficiary by means of communication, message or transfer.
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Question 29 of 30
29. Question
According to the FATF, what Over-the-counter (OTC) means?
Correct
According to the FATF, Over-the-counter (OTC) refers to the process of how securities are traded for companies not listed on a formal exchange. Securities that are traded over-the-counter are traded via a dealer network as opposed to on a centralized exchange.
Incorrect
According to the FATF, Over-the-counter (OTC) refers to the process of how securities are traded for companies not listed on a formal exchange. Securities that are traded over-the-counter are traded via a dealer network as opposed to on a centralized exchange.
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Question 30 of 30
30. Question
According to the FATF, What is Money or Value Transfer Service (MVTS)?
I. (MVTS) refers to financial services that involve the acceptance of cash.
II. (MVTS) refers to financial services that involve the acceptance of cheques.
III. (MVTS) refers to financial services that involve the acceptance of credit cards.
IV. (MVTS) refers to financial services that exclude the acceptance of cash.Correct
Defined by the FATF: Money or value transfer services (MVTS) refers to financial services that involve the. acceptance of cash, cheques, other monetary instruments or other stores of value and the. payment of a corresponding sum in cash or other form to a beneficiary .
Incorrect
Defined by the FATF: Money or value transfer services (MVTS) refers to financial services that involve the. acceptance of cash, cheques, other monetary instruments or other stores of value and the. payment of a corresponding sum in cash or other form to a beneficiary .