Compliance Training Quiz

A modern office setting with individuals engaged in a compliance training session, featuring charts, graphs, and compliance documents prominently displayed in the background.

Compliance Training Quiz

Test your knowledge on compliance and risk management with our engaging Compliance Training Quiz! This quiz is designed to help you understand essential concepts related to money laundering, risk assessment, and compliance regulations.

Join us to ensure you are well-versed in the key practices of compliance and risk management that are critical for your organization. This quiz covers:

Money Laundering
Terrorist Financing
Risk and Compliance Practices

7 Questions2 MinutesCreated by AnalyzingData123

While the internal control function has 3 lines of defense, what is the line of defense for risk and compliance function?

1st line of defense

2nd line of defense

3rd line of defense

If a customer cheated someone else and keep a certain money in U-Pay Wallet, does this activity called Money Laundering?

Yes

1. Money Laundering includes concealing or falsely justifying the illicit origin of the property. 2. Terrorist Financing is any activities to support terrorist activities.

Statement 1 is True

Statement 2 is False

Both statements are True

What shall U-Pay do before onboard a Merchant?

Conduct due diligence on the business, owner, board of directors and authorized representatives.

Conduct enhanced due diligence if any suspicion.

Verify their identity against sanction lists.

What should you do if you suspect a customer laundering money?

Nothing. It is the role of Risk & Compliance Department to monitor such transaction.

Report the case to Operations Department to block the transaction.

Report to Risk & Compliance Department and never tell customer that you reported the case.

Unlock and Upgrade

Remove all limits from your Quizzes

Compliance Training Quiz

Compliance Training Quiz

More Quizzes