Kyc - Study guides, Class notes & Summaries

Test-Bank=Introduction to Clinical Pharmacology 10th Edition=VisovskyComplete Test-Bank Chapter 01= Pharmacology and the Nursing Process in LPN Practice Visovsky=Introduction to Clinical Pharmacology=10th Edition MULTIPLE CHOICE 1. The LPN is collecting data for the initial assessment of a patient upon admission to a Long-term care facility before giving the patient’s prescribed drugs. Which action should the LPN consider to be the highest priority? a. Obtain any s...

Preventing Money Laundering: Pharmacy Version Questions and Answers | Latest Version | 2024/2025 | Already Passed Which of the following is a common method used to launder money in pharmacies? A) Selling prescription drugs without documentation B) Using large cash transactions or deposits to disguise illicit funds C) Offering discounts to customers for large purchases D) Buying over-the-counter medications in bulk B) Using large cash transactions or deposits to disguise illicit fun...

What does suitability mean for recommendations? correct answer: It means ensuring all recommendations: - Take into account the client' s unique circumstances and investment objectives - Are based on the adviser's understanding of the client's personal and financial situation, as well as knowledge of the various available investment options What does the KYC rule state? When must it be done? correct answer: States that an advisor must use due diligence to learn the essential facts ...

Identify the seven topics of international incorporated into the FATF 40 recommendations in 2012? - AML/CFT policies & procedures. Money Laundering & confiscation. Terrorist financing & financing of proliferation. Financial & non-financial institution preventative measures. Transparency & beneficial ownership of legal persons & arrangements. Powers & responsibilities of competent authorities & other institutional measures. International cooperation. According to the Egmont Group, What is th...

FATF's technical compliance assessment focuses on the extent to which the legal and institutional framework of its member is producing the expected results. True or False? - ANSWER-False FATF's 40 Recommendations provide a complete set of countermeasures against money laundering, including special recommendations on terrorist financing. True or False? - ANSWER-True FATF currently comprises 35 member jurisdictions and 31 associate members of observers. True or False? - ANSWER-True The B...

AML EXAM 2 QUESTIONS WITH 100% CORRECT ANSWERS The Office of Foreign Assets Control (OFAC) is allowed to impose sanctions against certain foreign countries. A. True B. False - answerA The Financial Action Task Force (FATF) is best known for what? A. Passing EU-Wide laws and policies on AML B. Issuing AML/CTF recommendations for countries to follow C. Having several subgroups D. Establishing the definition of counter terrorist financing - answerB The Third EU Directive defined "money ...

AML EXAM 2 QUESTIONS WITH 100% CORRECT ANSWERS The Office of Foreign Assets Control (OFAC) is allowed to impose sanctions against certain foreign countries. A. True B. False - answerA The Financial Action Task Force (FATF) is best known for what? A. Passing EU-Wide laws and policies on AML B. Issuing AML/CTF recommendations for countries to follow C. Having several subgroups D. Establishing the definition of counter terrorist financing - answerB The Third EU Directive defined "money ...

AML Exam #2 Questions And Answers The Office of Foreign Assets Control (OFAC) is allowed to impose sanctions against certain foreign countries. A. True B. False - ANS A The Financial Action Task Force (FATF) is best known for what? A. Passing EU-Wide laws and policies on AML B. Issuing AML/CTF recommendations for countries to follow C. Having several subgroups D. Establishing the definition of counter terrorist financing - ANS B The Third EU Directive defined "money launde...

3-1 Describe customer due diligence (CDD) as part of risk management. 3-1 Customer due diligence (CDD) is a set of internal controls that enable a financial institution to establish a customer's identity, predict with relative certainty the types of transactions in which the customer is likely to engage, and assess the extent to which the customer exposes the institution to a range of risks (i.e., money laundering and sanctions). Organizations need to know their customers through CDD to gu...

Describe the elements that should be addressed in a global approach to KYC identified in the Basel Committee's October 2004 paper called "Consolidated KYC Risk Management" - The Basel Committee's October 2004 paper called "Consolidated KYC Risk Management" addresses the need for banks to adopt a global approach and to apply the elements necessary for a sound KYC program on both the parent bank or head office and all its branches and subsidiaries. These elements consist of: - Risk...