Create a Rails API Quiz
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Question 1 of 27
1. Question
What are the key stages in Money Laundering?
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Question 2 of 27
2. Question
Sort the definition to the correct term.
Sort elements
- Money Launderers bring the dirty money into the “real” financial world.
- Moving the money around to hide its original source.
- Getting the money out so it can be used without attracting attention – “collecting the laundry”
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Placement
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Layering
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Integration
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Question 3 of 27
3. Question
Launderers are most vulnerable to being caught during the Integration stage –because it involves moving large amounts of cash.
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Question 4 of 27
4. Question
Crimes related to racketeering can be prosecuted in terms of which Act?.
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Question 5 of 27
5. Question
When should an AI or a RI register with the Centre?
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Question 6 of 27
6. Question
What is the FIC’s registration and reporting platform called?
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Question 7 of 27
7. Question
What are the penalties for failure to register as an Accountable or Reportable institution?
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Question 8 of 27
8. Question
Which of the below Acts does not govern money laundering and terrorist funding in the SA?
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Question 9 of 27
9. Question
Choose the correct statement.
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Question 10 of 27
10. Question
As a MLCO it is part of your job to;
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Question 11 of 27
11. Question
Complete the sentences by choosing the correct word.
Sort elements
- prohibits
- overruled
- Enhanced Due Diligence
- Ultimate Beneficial Owner
- suspicious
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The FIC Act ___________an accountable institution from doing business with an anonymous client or a client with an apparent false or fictitious name
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If the MLCO decides that something needs reporting, they must not be _________.
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__________ is a KYC process that detects risk that cannot be detected by customer due diligence designed for dealing with high-risk customers and large transactions.
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An __________ is formally defined as a person with significant control at the “top of a tree” in a business.
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A ______________ transaction must be reported regardless of the amount of the transaction
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Question 12 of 27
12. Question
What is a risk?
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Question 13 of 27
13. Question
What is a“PIP”?
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Question 14 of 27
14. Question
Disclosing that an investigation is being contemplated on the customer’s account is considered as;
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Question 15 of 27
15. Question
Prominent Influential Persons (PIP’s) are identified as higher risk customers. Because they are in a position of influence and there is a strong probability of abuse of authority.
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Question 16 of 27
16. Question
A PIP should be treated as a;
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Question 17 of 27
17. Question
Which of the following need to be approved by senior management?
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Question 18 of 27
18. Question
What transactions constitute a “Section 29” report? Choose all that apply.
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Question 19 of 27
19. Question
What is the period for reporting a Suspicious Activity to the FIC?
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Question 20 of 27
20. Question
If a customer conducts a Suspicious transaction involving more than R10,000, your company is not required to file a STR.
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Question 21 of 27
21. Question
What is the period for reporting CTRs to the FIC?
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Question 22 of 27
22. Question
What is the prescribe amount for a cash transaction to be reported to the FIC?
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Question 23 of 27
23. Question
What is the period for reporting TPRs to the FIC?
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Question 24 of 27
24. Question
Choose the most correct statement;
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Question 25 of 27
25. Question
Inspection of a private residence can be carried out without a warrant.
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Question 26 of 27
26. Question
What is the value of a “single transaction”?
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Question 27 of 27
27. Question
Choose the correct answer/s.
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