Test Your Compliance Knowledge! Trivia Quiz
Are you looking to test your compliance knowledge? You are in luck as the quiz below is perfect for seeing just how much you know and if it enough to gunner you a position in the organization you desire. Do take up the quiz and get to see how well you will do and what new regulations you may get to learn.
- 1.
SIS stands for
- A.
Superannuation Investment Stipulations
- B.
Supervision in Superannuation (Act)
- C.
Superannuation Industry Supervision (Act)
- D.
State and Industry Superannuation
Correct Answer
C. Superannuation Industry Supervision (Act) -
- 2.
From the list below, select all of the ways Statewide ensures the personal information of our members remains private
- A.
Logon passwords, firewalls and other technical processes
- B.
Member cards which include a photgraph of the member for identification purposes
- C.
Identification questions for members who call over the phone
- D.
Policies and Procedures regarding the sharing of information to Third Parties
Correct Answer(s)
A. Logon passwords, firewalls and other technical processes
C. Identification questions for members who call over the phone
D. Policies and Procedures regarding the sharing of information to Third Parties -
- 3.
AML/CTF legislation was implemented between 2006 and 2008. The AML/CTF program is regulated by __________________
Correct Answer(s)
AUSTRAC
Australian Transaction Reports and Analysis Centre - 4.
The AML compliance officer is responsible for which of the tasks below
- A.
Checking the identification of all members and customers wishing to pay cash
- B.
Reporting to AUSTRAC and the Board regarding AML
- C.
Assisting staff with questions about AML
- D.
Receives reports of suspicious activity from staff
Correct Answer(s)
B. Reporting to AUSTRAC and the Board regarding AML
C. Assisting staff with questions about AML
D. Receives reports of suspicious activity from staffExplanation
Select ALL of the correct answersRate this question:
-
- 5.
Members identification needs to be recertified if they change their ___________, address or date of birth
Correct Answer(s)
name - 6.
Which of the following are considered suspicious matters?
- A.
A member asking for a copy of our Privacy Policy
- B.
Large amounts of money moving in and out of a members account
- C.
A member makes one voluntary deposit via cheque of $500,000
- D.
Multiple cash deposits of $9,000 on the same day or within the same week
Correct Answer(s)
B. Large amounts of money moving in and out of a members account
D. Multiple cash deposits of $9,000 on the same day or within the same week -
- 7.
Suspicious matters should be reported to
- A.
The AML Compliance Officer
- B.
You should report it directly to AUSTRAC
- C.
The member
- D.
Your manager
Correct Answer
A. The AML Compliance Officer -
- 8.
Breaches of the Statewide AML policy should be reported to ______________
Correct Answer
your manager
compliance
manager
my managerExplanation
answer all in lower caseRate this question:
- 9.
Breaches of our AML policy could result in
- A.
Disciplinary action for individuals
- B.
Statewide no longer being able to offer a product
- C.
Civil Penalties
- D.
The member needing to close their account
Correct Answer(s)
A. Disciplinary action for individuals
B. Statewide no longer being able to offer a product
C. Civil Penalties -
- 10.
AML training notes, policies and procedures can be found on the ____________
Correct Answer(s)
Intranet
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Mar 21, 2022Quiz Edited by
ProProfs Editorial Team -
Oct 26, 2009Quiz Created by
Wwood
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