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Which of the following customers may be exempted under Phase II of the Bank Secrecy Act?
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Question 415 - CRCM discussion

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First National Bank is attempting to determine which of the following customers would qualify as exempt persons:

* Nationwide Foods, Inc., is a national company with stock listed on the New York Stock Exchange

* National Paper Products, is a wholly owned subsidiary of Nationwide Foods, Inc.

* Products Incorporated, a depositor for three months, is a regional company whose stock is designated a NASDAQ Capital Markets Company and that sells and leases large boats

* Century Enterprises, a local company owning several local restaurants, is a long-time bank customer and frequently makes deposits in excess of $10,000. All of Century's stock is owned by a local family.Which of these customers would qualify as an exempt person?

A.
All except for Nationwide Foods, Inc.
Answers
A.
All except for Nationwide Foods, Inc.
B.
All except for National Paper Products
Answers
B.
All except for National Paper Products
C.
All except for Century Enterprises
Answers
C.
All except for Century Enterprises
D.
All except for Products Incorporated
Answers
D.
All except for Products Incorporated
Suggested answer: D
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asked 16/09/2024
Szymon Strzep
39 questions
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