Dec ’16 – Feb ’17 Quiz Issue: Vol. 16 No. 1 Please login or join today for member only downloads and resources. Take the Quiz 1. Which situation below is a red flag for houses of worship?* A) When there isn’t a lack of fiduciary duty B) When there is a finance committee and it consists of more than one person C) When there is mention of your rate of return D) When there is no disclosure or conversation of how the money is spent 2. According to the article “Avoiding the Rabbit Hole,” which of the following does NOT create a new level of investigative efficiency?* A) FIU training that clearly defines the attributes of a complete and effective SAR B) Reviewing incomplete SARs and SARs that go overboard in detail and scope in your quality control process C) Training that explains how to research to add more “meaty tidbits” for law enforcement beyond the point of determining whether the transaction is suspicious D) Arranging a presentation from LE who can discuss the attributes of an efficient and on-target SAR that meets regulatory requirements 3. A SAR should be completed if loan proceeds are not used for the stated purposed.* A) True B) False 4. U.K. law describes ______ convictions as those that do not have to be disclosed, for most purposes, after a certain period of rehabilitation time.* A) Timed B) Spent C) Rehabilitation D) Unspent 5. Which of the following has been deemed the fifth pillar of an effective BSA/AML compliance program?* A) Development of internal policies, procedures and related controls B) BSA training C) Independent audit D) Customer due diligence Δ
