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 Market volatility and interest rate fluctuations Tax evasion and bankruptcy Money laundering, terrorism, and fraud 2. Which of the following regulations are KYC technologies designed to help institutions comply with? * The Health Insurance Portability and Accountability Act (HIPAA) The Patriot Act, Customer Identification Program (CIP), and Customer Due Diligence (CDD) requirements Fair Lending Act and the Dodd-Frank Act 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 monitoring customer transactions and behavior By building detailed risk profiles by gathering data from various sources By reducing the number of regulations to follow By analyzing large amounts of data to detect and prevent fraudulent activities 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? * Requires physical presence for notarization services Increased efficiency by reducing the time required for notarization Increases the costs associated with notarization Eliminates the need for any kind of documentation Name * Name First First Last Last Email - Email - USE THE EMAIL ADDRESS WHERE THE INSTRUCTIONS WERE SENT TO (NOT FROM); OTHERWISE, OUR SYSTEM WILL NOT UPDATE YOUR CONTACT RECORD! * Submit If you are human, leave this field blank.
