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ACFE Exam CFE-Law Topic 3 Question 41 Discussion

Actual exam question for ACFE's CFE-Law exam
Question #: 41
Topic #: 3
[All CFE-Law Questions]

Which of the following statements concerning money services businesses (MSBs) is INCORRECT?

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Suggested Answer: B

by Phillip at Jul 10, 2024, 06:50 AM

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Lamar
7 months ago
I think D is the correct answer because currency exchanges are not always classified as MSBs.
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Irma
7 months ago
But MSBs are often used for money laundering, so A makes sense.
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Ramonita
7 months ago
Hmm, this is a tricky one. I'm going to go with B. Those MSBs must be slippery fellows, evading regulations!
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Kristeen
6 months ago
Definitely, it's important to keep an eye on those slippery MSBs.
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Launa
6 months ago
Yeah, MSBs can sometimes fly under the radar with regulations.
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Enola
6 months ago
I think you're right, B does seem like the odd one out here.
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Virgie
6 months ago
D) A currency exchange is classified as an MSB.
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Luis
6 months ago
C) A check cashing company is classified as an MSB.
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Colene
6 months ago
B) MSBs are generally less strictly regulated than traditional financial institutions.
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Samira
6 months ago
A) MSBs tend to have a lower money laundering risk than other financial institutions.
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Sherell
7 months ago
D is the incorrect statement. A currency exchange is classified as an MSB, not the other way around.
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Glenna
7 months ago
I'm going with A. MSBs definitely have a higher money laundering risk than other financial institutions.
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Tamala
6 months ago
C) A check cashing company is classified as an MSB.
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Hillary
6 months ago
No way, that's incorrect. MSBs actually have a higher risk.
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Precious
6 months ago
A) MSBs tend to have a lower money laundering risk than other financial institutions.
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Vincenza
6 months ago
C) A check cashing company is not classified as an MSB.
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Estrella
6 months ago
B) MSBs are generally more strictly regulated than traditional financial institutions.
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Tenesha
7 months ago
A) MSBs tend to have a lower money laundering risk than other financial institutions.
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Reena
7 months ago
I think B is the correct answer. MSBs tend to have stricter regulations than traditional financial institutions.
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Ricarda
7 months ago
That's right, B is incorrect. MSBs are generally less strictly regulated than traditional financial institutions.
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Ricarda
7 months ago
Actually, B is incorrect. MSBs are generally less strictly regulated than traditional financial institutions.
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Celia
7 months ago
I disagree, I believe the correct answer is B.
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Irma
8 months ago
I think the correct answer is A.
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