The USA U.S.A.Patriot

question 13

Multiple Choice

The U.S.A.Patriot Act (2003) requires financial services firms to

• A)verify the identity of any person seeking to open an account.
• B)maintain records of the information used to verify a person's identity.
• C)determine whether a person opening an account is on a list of suspected terrorists.
• D)All of the options.
• E)verify the identity of any person seeking to open an account and determine whether a person opening an account is on a list of suspected terrorists.

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Definitions:

Major Features

Principal characteristics or components that distinguish something from others.

Price Fixing

A practice where competitors agree on selling prices rather than letting competition in the market determine them, often illegal.

Antitrust Policy

Regulations and laws put in place to prevent monopolies, promote competition, and protect consumers from unfair business practices.

Treatment

An intervention or set of interventions, typically in a medical or psychological context, designed to address a health problem or disorder.