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? * Market volatility and interest rate fluctuations Tax evasion and bankruptcy Intellectual property theft and corporate espionage Money laundering, terrorism, and fraud 2. Which of the following regulations are KYC technologies designed to help institutions comply with? * 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) Fair Lending Act and the Dodd-Frank Act 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 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 4. What tool is often used in conjunction with AI for predictive maintenance? * Standardized maintenance schedules IoT devices Manual inspection of equipment Physical maintenance logs 5. What is a major advantage of e-notarization in the equipment finance industry? * Requires physical presence for notarization services Eliminates the need for any kind of documentation Increases the costs associated with notarization Increased efficiency by reducing the time required for notarization 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.
