Quiz round 1

An infographic highlighting various business compliance elements, such as NACE codes, UBO identification, and LEI numbers, set against a professional background.

Business Compliance Quiz

Test your knowledge on business compliance and entity classification with our engaging quiz! This quiz includes vital questions about NACE codes, UBO identification, and financial transactions.

10 challenging multiple-choice questions
Learn essential industry standards
Enhance your understanding of compliance protocols

10 Questions2 MinutesCreated by LearningLion301

What is a NACE code?

A company’s registration number

A company’s tax number

A code classifying a company’s main business activity

A Global identification number for the main UBO

What if a company does not have a tax number?

We may create such number

We should advise the Client to obtain it

We should obtain proof of residence for one director

It is impossible – every company has a tax number

A "bearer share" is...

A share owned by the person who holds the share certificate

...a share owned by a bear

...a share owned by a UBO

....a share issued by a listed company

Do we add the date of incorporation while screening the entity in FinScan?

Yes

We add a date of birth for the UBO

How would you screen Smith & Wesson?

�Smith & Wesson’ and ‘Smith Wesson’

�Smith Wesson’

�Smith & Wesson’

I would not screen it

Mr. Przemyslav Bogatyi is a UBO, a director and a signatory in a reviewed entity. What connections should be created for him?

Only a UBO connection

Only a director connection

A UBO and a signatory connection

There should be 3 connections created (UBO, director and signatory connection).

What is LEI number?

A company’s registration number

A global tax identification number

A number classifying a company’s main business activity

A number that identifies legal entities that engage in financial transactions.

What should we do if no UBO has been identified? (The company does not have a UBO)

We need to obtain PoR for all directors

We need to obtain PoR for all signatories

We escalate this matter and remove the reviewed entity from our scope

We need to obtain PoR for one director

What is the agreed % UBO threshold?

Depending on a company type

15%

25%

What are you talking about?

What should we do if we have an old CAF in CFS?

We never void old CAFs

We need to void it if we have a new one

We may not void it along with the new one if we refer to the old one in our review

Definitely escalate it.

Quiz round 1

Business Compliance Quiz

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