IAPP CIPP/A Exam - Topic 2 Question 71 Discussion

Actual exam question for IAPP's CIPP/A exam

Question #: 71
Topic #: 2

Which control is NOT included in the requirements established by the Monetary Authority of Singapore (MAS) for financial institutions in order to deter money-laundering and financial aid to terrorism (AML/CFT)?

AIdentifying and knowing customers.

BSharing personal information with the PDPC.

CConducting regular reviews of customer accounts.

DMonitoring and reporting suspicious financial transactions.

Show Suggested Answer

Suggested Answer: A

by Vallie at Oct 24, 2024, 08:44 AM

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Fausto

3 months ago

Not sure about B, but it feels like it should be included.

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Carmen

4 months ago

A, C, and D are all essential controls.

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Terrilyn

4 months ago

Wait, sharing info with PDPC? That’s surprising!

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Hassie

4 months ago

I agree, B seems out of place here.

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Novella

4 months ago

B is definitely not a requirement.

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Millie

5 months ago

I feel like option B is the odd one out here, but I might be mixing it up with another regulation.

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Elden

5 months ago

Conducting regular reviews sounds familiar, but I can't recall if sharing personal info is really a requirement.

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Mammie

5 months ago

I remember a practice question that mentioned monitoring transactions, so I feel like that's definitely part of the requirements.

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Alesia

5 months ago

I think the MAS requirements definitely include knowing customers, but I'm not sure about sharing info with the PDPC.

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Kenneth

5 months ago

I remember covering the MAS AML/CFT requirements in my studies, so I think I have a good handle on this. I'll carefully consider each option and eliminate the ones that are clearly included in the requirements.

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Albina

5 months ago

Okay, let's think this through step-by-step. The question is asking which control is NOT included in the MAS requirements. Identifying and knowing customers, conducting regular reviews, and monitoring/reporting suspicious transactions are all typical AML/CFT controls, so I'll need to focus on the option that doesn't fit.

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Avery

5 months ago

Hmm, I'm a bit unsure about this one. The options all seem related to AML/CFT, so I'll need to carefully read through each one to determine which is not a requirement.

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An

5 months ago

This seems like a straightforward question about AML/CFT requirements in Singapore. I'll focus on identifying the control that is not included in the MAS requirements.

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Laurel

10 months ago

The PDPC? What is this, a crossover episode? B is clearly the odd one out, unless the MAS has a secret love for data protection authorities. I'll stick with the classic AML/CFT controls, thank you very much.

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Jaime

9 months ago

C) Conducting regular reviews of customer accounts.

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Carmela

9 months ago

B) Sharing personal information with the PDPC.

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Cheryl

9 months ago

A) Identifying and knowing customers.

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Marshall

10 months ago

Bingo, B is the answer. The MAS cares about knowing your customers, monitoring transactions, and reporting suspicious activity - not about sharing data with other agencies. Gotta keep that customer info under lock and key!

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Janey

10 months ago

Hah, B is obviously the wrong answer here. The MAS would never ask institutions to share personal info with the PDPC for AML/CFT. They're more interested in the customers themselves, not the regulators!

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Gertude

10 months ago

B is the odd one out for sure. I can't imagine the MAS would require financial institutions to share customer data with the PDPC as part of their AML/CFT measures. Seems like a bit of a trick question.

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Laila

9 months ago

D) Monitoring and reporting suspicious financial transactions.

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Lasandra

9 months ago

C) Conducting regular reviews of customer accounts.

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Zena

9 months ago

A) Identifying and knowing customers.

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Sherita

10 months ago

Ah, question B definitely seems out of place. Sharing personal information with the PDPC doesn't sound like an AML/CFT requirement. The other options all seem relevant to me.

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Fannie

9 months ago

C) Conducting regular reviews of customer accounts.

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Deonna

9 months ago

B) Sharing personal information with the PDPC.

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Paulene

9 months ago

A) Identifying and knowing customers.

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Deangelo

11 months ago

I disagree. I believe the answer is C) Conducting regular reviews of customer accounts because it is not specifically mentioned in the requirements by MAS.

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Gracie

11 months ago

I agree with Walker. Sharing personal information with the PDPC is not a requirement for AML/CFT.

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Walker

11 months ago

I think the answer is B) Sharing personal information with the PDPC.

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