Quiz round 1
Business Compliance Quiz
Test your knowledge on business compliance and entity classification with our engaging quiz! This quiz includes vital questions about NACE codes, UBO identification, and financial transactions.
- 10 challenging multiple-choice questions
- Learn essential industry standards
- Enhance your understanding of compliance protocols
What is a NACE code?
A company’s registration number
A company’s tax number
A code classifying a company’s main business activity
A Global identification number for the main UBO
What if a company does not have a tax number?
We may create such number
We should advise the Client to obtain it
We should obtain proof of residence for one director
It is impossible – every company has a tax number
A "bearer share" is...
A share owned by the person who holds the share certificate
...a share owned by a bear
...a share owned by a UBO
....a share issued by a listed company
Do we add the date of incorporation while screening the entity in FinScan?
Yes
No
We add a date of birth for the UBO
How would you screen Smith & Wesson?
€˜Smith & Wesson’ and ‘Smith Wesson’
€˜Smith Wesson’
€˜Smith & Wesson’
I would not screen it
Mr. Przemyslav Bogatyi is a UBO, a director and a signatory in a reviewed entity. What connections should be created for him?
Only a UBO connection
Only a director connection
A UBO and a signatory connection
There should be 3 connections created (UBO, director and signatory connection).
What is LEI number?
A company’s registration number
A global tax identification number
A number classifying a company’s main business activity
A number that identifies legal entities that engage in financial transactions.
What should we do if no UBO has been identified? (The company does not have a UBO)
We need to obtain PoR for all directors
We need to obtain PoR for all signatories
We escalate this matter and remove the reviewed entity from our scope
We need to obtain PoR for one director
What is the agreed % UBO threshold?
Depending on a company type
15%
25%
What are you talking about?
What should we do if we have an old CAF in CFS?
We never void old CAFs
We need to void it if we have a new one
We may not void it along with the new one if we refer to the old one in our review
Definitely escalate it.
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