Take this short quiz consisting of multiple choice questions to determine if you have a solid understanding of the topic at a foundational level. The system will automatically mark your assessment. If you have achieved a passing grade (70%), the system will automatically issue a certificate of completion. Reattempt the quiz if you did not receive a passing grade. You have 3 attempts.
0 of 10 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:
0 of 10 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
True or FalseÂ
Financial Intelligence Centre Directive No 03 of 2021 sets Compliance Requirements for Virtual Asset Service providers (VASPs), whereby VASPs are expected, to develop programmes, policies, procedures and controls to effectively mitigate and manage ML/TF/PF risks.
True or False
Using Customer Due Diligence information, a Regulated entity should be able to identify transactions that do not appear to make economic sense, that involve large cash deposits or that are not consistent with the customer’s normal and expected transactions?
True or False
FIA Directive No 2 of 2020 requires Regulated Entities to have appropriate risk-based procedures to determine whether a customer is a Politically Exposed Person (PEP); obtain appropriate senior management approval for establishing a business relationship with a PEP.
True or False
The Namibian Anti-Money Laundering regulatory requirements includes of the Financial Intelligence Act No 13 of 2012 and Financial Intelligence Act Regulations whilst excluding Circulars.
True or False
The money laundering stage of integration involves buying and selling international currencies, shares or bonds; investing in Unit trusts; insurance-based investment products?
True or False
Section 39(1) of the Financial Intelligence Act No 13 of 2012 requires accountable institutions, on a regular basis, to conduct ongoing monitoring of the business relationships with their customers.
True or False
The FATF Recommendations in order to combat money laundering and terrorist financing, as well as the financing of proliferation of weapons of mass destruction include the requiring the Saint Micheal Pentecostal Church and other churches to develop FIA compliance programme and register with the Financial Intelligence Centre.
True or False
FIA and international Anti-Money Laundering Laws are aimed at identifying personal customers and the ultimate beneficial ownership of corporate customers, monitoring transactions, keeping good records and reporting suspicions to the authorities.
True or False
Accountable Institutions in terms of Schedule 1 of the Financial Intelligence Act No 13 of 2012 includes Real estate agents whilst excluding Hotel Casinos.
True or False
FIA Directive No 2 of 2021 requires Regulated Entities to have appropriate risk-based procedures to determine whether a customer is a Politically Exposed Person (PEP); obtain appropriate senior management approval for establishing a business relationship with a PEP.