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? * Tax evasion and bankruptcy Money laundering, terrorism, and fraud Intellectual property theft and corporate espionage Market volatility and interest rate fluctuations 2. Which of the following regulations are KYC technologies designed to help institutions comply with? * Fair Lending Act and the Dodd-Frank Act The Health Insurance Portability and Accountability Act (HIPAA) The Patriot Act, Customer Identification Program (CIP), and Customer Due Diligence (CDD) requirements The Sarbanes-Oxley Act and the Securities Act of 1933 3. AI improves fraud detection in KYC processes in all of the following ways except for: * By building detailed risk profiles by gathering data from various sources By analyzing large amounts of data to detect and prevent fraudulent activities By monitoring customer transactions and behavior By reducing the number of regulations to follow 4. What tool is often used in conjunction with AI for predictive maintenance? * IoT devices Manual inspection of equipment Standardized maintenance schedules Physical maintenance logs 5. What is a major advantage of e-notarization in the equipment finance industry? * Increased efficiency by reducing the time required for notarization Eliminates the need for any kind of documentation Increases the costs associated with notarization 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.