RE5 Topic 9 Quiz 1

Quiz Summary

0 of 5 Questions completed

Questions:

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 5 Questions answered correctly

Your time:

You have reached 0 of 0 point(s), (0)

Current
Review
Answered
Correct
Incorrect

Question 1 of 5

1. Question
What is the purpose of the Financial Intelligence Centre Act?
- A) Criminalising money laundering and terrorist funding activities.
- B) Establishing the Financial Intelligence Centre.
- C) Allowing for civil forfeiture in respect of property involved in illegal conduct.
- D) All of the above
Correct

Incorrect
Question 2 of 5

2. Question
TopGear Motors is a motor dealership that also sells short term insurance. Which One of the following actions with regard to registration by institutions as prescribed in the Financial Centre Act is correct?
- A) TopGear Motors do not need to register as an accountable or reportable institutions.
- B) TopGear Motors must register as an accountable and reportable institution.
- C) TopGear Motors must register as an accountable institution only.
- D) TopGear Motors must register as reportable institution only.
Correct

Incorrect
Question 3 of 5

3. Question
Which ONE of the following statements with regard to the stipulations under the Financial Intelligence Centre Act is correct?
- A) Accountable institutions must register with Treasury and submit such particulars as is required for registration.
- B) An accountable institution must notify the Financial Intelligence Centre of any changes in details within 60 days after change
- C) A client is defined only as a natural person who uses the services of an accountable or reportable institution.
- D) A business relationship is defined as an arrangement between a client and an accountable institution for concluding a single or series of transactions.
Correct

Incorrect
Question 4 of 5

4. Question
T&T is a reporting institution specialising in the trade of Kruger Rands. T&T did not report that a transaction exceeded the cash threshold. What is the maximum penalty that can be awarded for this offence?
- A) 10 million or 5 years’ imprisonment
- B) 10 million or 10 years’ imprisonment
- C) 15 million or 10 years’ imprisonment
- D) 100 million or 15 years’ imprisonment
Correct

Incorrect
Question 5 of 5

5. Question
How many Acts address the issue of money laundering?
- A) 1
- B) 2
- C) 3
- D) 4
Correct

Incorrect

RE5 Topic 9 Quiz 1

RE5 Topic 9 Quiz 1

Quiz Summary

Information

Results

Results

Categories

1. Question

2. Question

3. Question

4. Question

5. Question

RE5 Topic 9 Quiz 1

RE5 Topic 9 Quiz 1

Quiz Summary

Information

Results

Results

Categories

1. Question

2. Question

3. Question

4. Question

5. Question

Learner Info