Could You Pass This Compliance Trivia Test?
Could you pass this compliance trivia test? Rules are put in place for a reason, and it is important to ensure that you follow them as the consequences may, at times, be too bad to walk back from as an institution. Take up the quiz below and get to see how knowledgeable you are on what is expected of you when it comes to certain transactions at the place of work.
- 1.Maniflo agents must always comply with:
- A.
The Bank Secrecy Act (BSA)
- B.
The PATRIOT ACT
- C.
State laws and regulations
- D.
All of the above
- 2.When customers use multiple transaction to avoid providing proper identification it is called:
- A.
Splitting
- B.
Shifting
- C.
Structuring
- D.
None of the above
- 3.A Suspicious Activity Report (SAR) will be filed:
- A.
Anytime a transaction seems suspicious, no matter the amount
- B.
For all transactions of $3000 or more
- C.
For all transactions for more than $10,000
- D.
All of the above
- 4.A Currency Transaction Report must always be filed for cash transaction of:
- A.
More than $2000
- B.
More than $3000
- C.
More than $10,000
- D.
All of the above
- 5.If an agent knows a SAR has been filed, the agent should:
- A.
Always inform the customer a SAR has been filed
- B.
Never tell the customer a SAR has been filed
- C.
Only tell customer the agent knows as well
- D.
None of the above
- 6.A transaction is suspicious when:
- A.
One customer sends multiple transmissions, to one person, the same day
- B.
Multiple customers send funds to the same person on the same day
- C.
A customer has multiple transaction to persons with similar names the same day
- D.
All of the above
- 7.When an agent believes a transaction might be suspicious, the agent should:
- A.
Refuse to complete the transaction
- B.
Complete the transaction, but remember that customer for the next time he comes in
- C.
Complete the transactions and then inform Maniflo’s compliance department
- D.
None of the above
- 8.Agents can inform customers that
- A.
Transactions of different amounts require different levels of identification
- B.
They should divide their transactions so additional identification is not needed
- C.
Both of the above
- D.
Neither of the above
- 9.Federal law requires additional identification for transactions of $3000. For transactions of $2000-2999, and the customer claims to have no ID, the Maniflo agent should ask and record the:
- A.
Customer’s date of birth
- B.
Customer’s occupation
- C.
Both of the above
- D.
Neither of the above, for Maniflo transactions of $2,000 require ID
- 10.Agents must train employees on proper transaction policies and procedures:
- A.
Whenever a new employee is hired
- B.
Once a year after being hired
- C.
When new regulations or policies are enacted
- D.
All of the above
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