AML KYC Quiz Try

Welcome to your AML KYC Quiz Try

Name

1. Which of the following statements are true regarding the "Designated Director" under KYC guidelines?

A Designated Director is responsible for ensuring compliance with KYC obligations.
The Designated Director must be nominated by the Board of Directors of the Regulated Entity (RE).
The Principal Officer can be the Designated Director.

1 and 2 only

2 and 3 only

1 and 3 only

All of the above

None of the above

None

1 out of 2

2. What is the responsibility of the Board of Directors regarding credit risk models in Regulated Entities (REs)?

Directly develop the models

Approve and periodically review the Model Risk Management Framework (MRMF)

Oversee daily operations of credit models

Perform technical validations of the models

None of the above

None

2 out of 2

Time's up

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