AML/CFT Compliance Quiz-Real Estate

AML/CFT Compliance Quiz-Real Estate

12th Grade

25 Qs

quiz-placeholder

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AML/CFT Compliance Quiz-Real Estate

AML/CFT Compliance Quiz-Real Estate

Assessment

Quiz

Professional Development

12th Grade

Medium

Created by

Qamar Ak

Used 1+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does AML/CFT stand for?

Anti-Money Laundering / Counter Financing of Terrorism

Avoid Money Laundering / Counter Fraud Training

Address Money Laundering / Criminal Funding Training

Anti-Money Laundering / Criminal Financial Training

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which government entity is responsible for overseeing AML/CFT compliance in the UAE for DNFBPs?

Ministry of Interior

Ministry of Economy

Central Bank of the UAE

Financial Action Task Force (FATF)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the threshold value for cash transactions that must be reported by DNFBPs in the UAE?

AED 55,000

AED 40,000

AED 100,000

AED 200,000

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a key obligation for DNFBPs under UAE AML laws?

Offering discounts for cash payments

Conducting periodic financial audits

Filing Suspicious Transaction Reports (STRs) when necessary

Avoiding all business with high-net-worth individuals

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of CDD (Customer Due Diligence)?

To identify suspicious transactions after they occur

To verify the identity of customers and assess associated risks

To create marketing strategies for high-value customers

To monitor staff compliance with AML regulations

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a red flag in real estate transactions?

A buyer provides clear proof of income and funds

A customer insists on making a transaction in cash for a high-value property

A buyer submits all required documents promptly

A buyer's funds come from a verifiable loan institution

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which action should raise suspicion during a property sale?

The client requests to structure the payment into smaller transactions.

The client provides legitimate documents of identification.

The client asks for a detailed breakdown of property costs.

The client uses a personal bank account to pay.

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