ACFE Exam CFE-Law Topic 1 Question 13 Discussion

Actual exam question for ACFE's CFE-Law exam

Question #: 13
Topic #: 1

The Financial Action Task Force (FATF) Recommendations slate that a financial institution s customer due diligence (COD) procedures should include continued monitoring of a customer's business relationships and transactions.

ATrue

BFalse

Show Suggested Answer

Suggested Answer: D

by Eun at Jan 09, 2023, 05:42 AM

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Cordelia

1 months ago

I'm going with A. True. After all, the FATF knows best. They're probably just trying to keep us all out of trouble, right? *winks*

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Nettie

3 days ago

A) True

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Olive

12 days ago

I agree, the FATF recommendations are important for preventing financial crimes.

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Elza

14 days ago

A) True

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Tamesha

1 months ago

B) False, really? The FATF wants us to do all that extra work? Good thing I didn't read the fine print on that one!

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Richelle

2 days ago

A) True

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Ernie

4 days ago

B) False

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Dante

19 days ago

A) True

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Johnson

2 months ago

A) True, no doubt about it. Gotta make sure those customers aren't up to any funny business. Can't be too careful, you know?

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Deonna

23 days ago

A) True, but it's better to be safe than sorry. You never know what kind of risks are out there in the financial world.

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Josphine

24 days ago

B) False, I think it's important to trust your customers until proven otherwise. Constant monitoring seems a bit invasive.

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Rolland

1 months ago

A) True, no doubt about it. Gotta make sure those customers aren't up to any funny business. Can't be too careful, you know?

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Herman

2 months ago

I'm going with B. False. Who has time for 'continued monitoring' these days? We're running a business, not a surveillance operation!

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Christiane

10 days ago

B) False

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Wilbert

15 days ago

I agree, it's important to monitor business relationships and transactions to prevent money laundering and terrorist financing.

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Tequila

1 months ago

A) True

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Alecia

2 months ago

True, that's definitely what the FATF Recommendations state. Gotta keep a close eye on those customers!

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Wilson

7 days ago

Yes, it's crucial for financial institutions to follow the FATF Recommendations.

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Tamesha

9 days ago

A) True

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Odette

11 days ago

Absolutely, it's important to monitor business relationships and transactions.

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Rosita

12 days ago

A) True

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Glenn

14 days ago

Yes, it's important to comply with FATF Recommendations.

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Reta

1 months ago

A) True

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Daniel

1 months ago

Absolutely, it's crucial to monitor business relationships and transactions.

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Shawn

1 months ago

A) True

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Alva

3 months ago

I agree, it helps prevent money laundering and terrorist financing.

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Raymon

3 months ago

I think it's true because monitoring business relationships and transactions is important for detecting suspicious activities.

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Alva

3 months ago

A) True

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