Sep ’14 – Nov ’14 Quiz Issue: Vol. 13 No. 4 Table of Contents Please login or join today for member only downloads and resources. Take the Quiz 1. __________ is the purposeful rejection or termination of financial relationships with groups of customers or lines of businesses considered high risk under BSA/AML standards.* A) Enhanced due diligence B) Re-risking C) De-risking D) Risk management 2. Heavy fines have been imposed on financial institutions that have conducted business with __________ without following KYC procedures and EDD processes.* A) REP B) PEP C) CDD 3. If a marijuana-related business violates one of the eight points of the “Cole Memo” or violates state law, what should an FI identify this as in their SAR?* A) Marijuana Priority B) Marijuana Limited C) Marijuana Termination D) None of the above 4. __________ are individuals, groups and entities subject to economic sanctions by the U.S. Treasury and OFAC. These include individuals, groups and entities that are not country-specific.* A) Specially Designated Internationals (SDIs) B) Specially Designated Nationals (SDNs) C) Blocked Internationals (BIs) 5. Filing a false BSA document is not a crime.* True False Δ
