HR Quiz Unanswered

1. What is the primary purpose of Anti-Money Laundering (AML) regulations?
A. To encourage large financial transactions
B. To reduce the amount of tax paid by customers
C. To detect and prevent the use of financial systems for criminal activity
D. To allow banks to charge higher fees

2. Which of the following best describes a “politically exposed person” (PEP)?
A. A customer who has filed a complaint against the bank
B. An individual who holds a prominent public position or has close ties to one
C. Someone who frequently travels abroad for business
D. A bank employee who has access to client data

3. When must suspicious activity be reported to the MLRO (Money Laundering Reporting Officer)?
A. As soon as there are reasonable grounds to suspect criminal activity
B. Only after a full internal investigation has concluded
C. At the end of the financial year
D. Once the customer has been informed

4. What is the main reason for performing Know Your Customer (KYC) checks?
A. To assess a customer's credit score
B. To promote the bank’s loyalty scheme
C. To verify the identity and assess the risk profile of the customer
D. To collect customer preferences for marketing purposes

5. Under GDPR, what is the correct approach to handling a customer’s personal data?
A. Store it indefinitely in case it's needed
B. Share it with third parties for marketing
C. Use it without consent if it's non-sensitive
D. Process it lawfully, transparently, and only for specified purposes

6. Which of the following would most likely be considered insider trading?
A. Buying shares recommended in the financial press
B. Selling shares based on a colleague’s public blog
C. Trading shares based on confidential company information not available to the public
D. Investing after reading the company's annual report

7. What is the best way to protect against phishing attacks?
A. Avoid clicking on suspicious links or attachments and report any suspicious emails
B. Turn off your computer when not in use
C. Only open emails from friends
D. Immediately delete all emails from customers

8. What does “Treating Customers Fairly” (TCF) mean in practice?
A. Charging the same interest rate to every customer
B. Providing clear, suitable, and transparent services tailored to individual needs
C. Allowing customers to set their own rules
D. Giving customers unlimited borrowing power

9. When is it acceptable to ignore a potential conflict of interest?
A. If it only affects a junior client
B. If no one else has noticed it
C. If the affected party hasn’t complained
D. Never — all potential conflicts must be declared and managed appropriately

10. Why are regular compliance training sessions important for banking staff?
A. They help improve customer satisfaction scores
B. They ensure staff understand and follow current laws and internal procedures
C. They replace the need for written policies
D. They allow employees to share personal opinions

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