In Recent Years, Know-Your-Clients (KYC) Is Required by International Financial

question 73

Multiple Choice

In recent years, know-your-clients (KYC) is required by international financial regulators. In the U.S., what is the act that requires financial institutions to share information about customer identities with appropriate government agencies?

• A) The USA Patriot Act
• B) The Sarbanes-Oxley Act
• C) The 9/11 Act
• D) The U.S. Treasury Department Act
• E) The Gramm-Leach-Bliley Act
• ESSAY QUESTIONS

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Definitions:

Directive Activities

Actions taken by leaders or managers to guide, control, or influence the behavior and work processes of others.

Data Gathering

A process of collecting information from all relevant sources to achieve a specific objective.

Team Effectiveness

a measure of how well a team achieves its goals, efficiently utilizes its resources, and maintains group cohesion.

Team Functioning

The process by which a group of individuals works together effectively to achieve common goals.