Problem 1: What are the general principles of KYC (Knowing your customer)?
Problem 2: Who should be verified, and what is meant by low risk and high risk when it comes to customers and products?
Problem 3: Discuss at least three low risk and three high risk characteristics or types of each.
Problem 4: When should it be done and how? Include the different data sources you would use.
Problem 5: How and why do you check the source of funds?
Problem 6: When should the red flags go up on identity, source of funds?
Problem 7: What sort of records should be kept?
Problem 8: Give examples of what to do if the following happens:
Problem 9: Your client lives in a foreign country. They don't have an on-ground address. They are a PEP.
Problem 10: Would you do anything differently if you worked for an insurance company?