2025 CLFP Recertification Quiz #3: KYC, AI, and ENotary CLFP Recertification: Quiz #3: KYC, AI, and E-Notary 1. What do KYC technologies primarily aim to prevent in equipment financing and leasing? * Intellectual property theft and corporate espionage Tax evasion and bankruptcy Market volatility and interest rate fluctuations Money laundering, terrorism, and fraud 2. Which of the following regulations are KYC technologies designed to help institutions comply with? * Fair Lending Act and the Dodd-Frank Act The Sarbanes-Oxley Act and the Securities Act of 1933 The Patriot Act, Customer Identification Program (CIP), and Customer Due Diligence (CDD) requirements The Health Insurance Portability and Accountability Act (HIPAA) 3. AI improves fraud detection in KYC processes in all of the following ways except for: * By reducing the number of regulations to follow By monitoring customer transactions and behavior By analyzing large amounts of data to detect and prevent fraudulent activities By building detailed risk profiles by gathering data from various sources 4. What tool is often used in conjunction with AI for predictive maintenance? * Standardized maintenance schedules IoT devices Physical maintenance logs Manual inspection of equipment 5. What is a major advantage of e-notarization in the equipment finance industry? * Increases the costs associated with notarization Increased efficiency by reducing the time required for notarization Eliminates the need for any kind of documentation Requires physical presence for notarization services Name * Name First First Last Last Email - MUST MATCH THE EMAIL YOU RECEIVED YOUR INSTRUCTIONS * Submit If you are human, leave this field blank.
