Module 7 Knowledge Check

Which statement is true regarding the risk of Politically exposed persons (PEPs)? PEPs provides access to third parties on whom the financial institution has not conducted sufficient due diligence PEPs have significantly greater exposure to the politically corrupt funds,, including accepting bribes or misappropriating government funds PEPs are foreign customers who inherently present additional risk as they are engaged in cross border transctions PEPs generally do not pose enhance risks to an institution due to their political standing; rather, PEPs increase prestige of an institution

Your Group has formed a tax advisory firm. One of your clients in considering investing in Barbados. The company has requested general tax advice in respect of the VAT regime in Barbados. Your Group is required to provide this advice. Additionally, the company has requested the high-level of all other applicable taxes in Barbados including all the matters that the investor needs to be aware of. Making the necessary assumption as appropriate.

Which of the following is a common strategy to reduce taxes for business founders? Form partnerships instead of corporations Form sole proprietorship instead of partnerships Designate capital contributions as loans to the business Designate capital contributions as charitable gifts to the business Always incorporate in a foreign country

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Redlining is described as: A) the practice of targeting certain communities for predatory lending. B) the practice of targeting homes in a high- priced neighborhood for refinancing. C) a lender denying loans to a neighborhood due to the low prices of the homes in that area. D) a lender denying loans to certain areas of a community, usually because of the racial characteristics of the applicant's neighborhood.

Give typed full explanation  Unbeknownst to a physician in private practice, her medical assistant has been falsifying ICD-10-CM and CPT codes to ensure a greater reimbursement from insurers (including from the federal government for Medicare), and has been pocketing the difference. The Federal Office of the Inspector General conducts an audit based on a tip from a former employee, and uncovers the scheme. What, if any, is the physician's criminal liability in this case? Why? Please note any regulations or court

1.) which of the following statements is incorrect about life settlement and variables A) the life insurance policy sold to a third party B) the purchase price equals all premiums paid up to the time of the sale C) the cash surrender value is always less than the purchase price D) the proceeds from the sale may be subject to taxes

37) is a form of financing a new business in which in which entrepreneurs post details of their ideas for a start-up or new venture, along with key information, on the internet inviting would be investors to buy-into their company. Crowd funding Factoring O An angel investor O Venture capital

Scenario:  Sarah owns a coffee shop in Brantford, Ontario. Bob receives a personalized email from the coffee shop. The email suggests that Bob visit soon to get 10% savings on new types of cookies and cakes.  Bob says this email is an example of advertising. Is Bob correct?

Describe the company's objectives for writing a default letter for student loan payement.

What is the most difficult part of a shell company scheme from the fraudster’s perspective? a. Producing invoices for fictitious goods b. Producing invoices for fictitious services c. Self-approving the fraudulent payments d. Getting the victim company to pay them

Of the following statements related to liability for Canadian income tax, which statement is NOT correct? D (A) Corporations must use the calendar year as their taxation year. B Part I tax is assessed on residents of Canada. Part I tax is assessed on Canadian employment income earned by a non-resident. As used in the ITA, the term person refers to individuals, trusts, and corporations. Conti

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Which of the following hindered the development of a secondary market for mortgages in the early 20th century? Check all that apply. Institutional investors were not interested in small non-standardized financial instruments. Institutional investors avoided dealing with financial instruments backed by the federal government, such as mortgages Institutional investors could not assess the default risk of every single mortgage It was impossible to turn illiquid assets such as real estate into liquid financial instruments. Which of the following helped foster the development of a market for collateralized debt obligations (CDOs) and collateralized mortgage obligations (CMOS) in the 2000er Check all that apply. Estashment of the Government National Mortgage Association (Ginnie Mae) and the Federal Home Loan Mortgage Corp (Freddie Mac) Establishment of the Federal National Mortgage Association (Fannie Mae) Inflows of foreign capital Development of mathematical models to price CDOS and CMOS

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don't use chatgpt answer i will 5 upvotes A party who receives a negotiable instrument as a(n) ------------- or through mistake will be a holder instead of a holder in due course. gift a)value instrument b)endorsed instrument c)defective instrument d) bearer instrument

What activities are commonly associated with Shadow Banking? I. Securitization activity centered around structured investment vehicles (SIV) but not special purpose vehicles (SPV). II. Hedge funds. III. Secured financing based on repo and stock lending agreements. IV. Money market mutual funds. Question 3Answer a. I, II, III and IV. b. I, II and IV only. c. I, II and III only. d. II, III and IV only.

4. Abdullah promises to pay Said OMR 500 for attempting his online final exam. Said attempts the final exam. Afterwards, Abdullah refuses to pay Said for his services. A. Can Said recover the money? B. Why or why not?

uniform crime reports national incident-based reporting system O national crime victimization surveys O self-reporting Question 12 1 pts What is the method of crime by which child pornography is frequently disseminated? O political O cyber O transnational O provision of illicit goods financial Question 13 1 pts Which of the following statements concerning instruments of crime measurement is true? MacBook Air

Your friend calls you on the phone and says that he has gotten a great deal on a large quantity of illegal iPads and wants you to help him sell them. He offers to give you half of all the money that is received. You agree to the suggestion but then call the police and tell them what has transpired. Has the situation gone far enough at this point to solicitation? What information do you have that would justify charging your friend with solicitation?

9. What is the environment where a firm conducts business known as A) Global business environment   B) Economic environment   C) Domestic business environment   D) Technological environment   10. What is the willingness and ability of producers to offer a good for sale referred to as?   A) Private enterprise B) Supply   C) Free market economy   D) Law of supply

_______ refers to governmental action to dispossess a foreign company or investor. Compensation is generally provided, often not in the "prompt, effective, and adequate" manner provided for by international standards. Question 1Answer a. Expropriation b. Nationalization c. Internationalization d. Confiscation

please choose the most correct anwser.

1) In the years that the Crazy Eddie story occurred, a large amount of retail transactions were conducted by cash or check, whereas today these retail sales would primarily be paid by debit or credit card. Also, during the Crazy Eddie years, internet shopping was not available. Explain why the Crazy Eddie story would be unlikely today.   2) Consider the difference between asset misappropriation crimes and financial statement fraud. List at least 6 different fraud schemes conducted at the Crazy Eddie business and identify whether each one is either asset misappropriation, financial statement fraud, or other fraud types.   3) Identify by year ranges three different time periods when the Crazy Eddie primary fraud strategy changed. A) What was the primary fraud strategy for each period you have identified. B) List whether the company was public (traded on a stock exchange) or private during each of the three periods you have identified. C) Describe the strategy employed when the “skim” was…

Of the following acts, which is an unfair method of competition, or an unfair or deceptive act or practice? Provide a comparison of insurer’s financial soundless that is accurate Make an accurate statement as to an insurer’s claim practice Using the premium fund trust account within intent to indicate a production goal Provide a fair comparison of policy coverage of two different insurers