BlackFriday 2024! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

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?

Show Suggested Answer Hide Answer
Suggested Answer: B

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

Limited Time Offer

25%

Off

Get Premium CFE-Law Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Lamar
4 months ago
I think D is the correct answer because currency exchanges are not always classified as MSBs.
upvoted 0 times
...
Irma
4 months ago
But MSBs are often used for money laundering, so A makes sense.
upvoted 0 times
...
Ramonita
4 months ago
Hmm, this is a tricky one. I'm going to go with B. Those MSBs must be slippery fellows, evading regulations!
upvoted 0 times
Kristeen
2 months ago
Definitely, it's important to keep an eye on those slippery MSBs.
upvoted 0 times
...
Launa
2 months ago
Yeah, MSBs can sometimes fly under the radar with regulations.
upvoted 0 times
...
Enola
2 months ago
I think you're right, B does seem like the odd one out here.
upvoted 0 times
...
Virgie
3 months ago
D) A currency exchange is classified as an MSB.
upvoted 0 times
...
Luis
3 months ago
C) A check cashing company is classified as an MSB.
upvoted 0 times
...
Colene
3 months ago
B) MSBs are generally less strictly regulated than traditional financial institutions.
upvoted 0 times
...
Samira
3 months ago
A) MSBs tend to have a lower money laundering risk than other financial institutions.
upvoted 0 times
...
...
Sherell
4 months ago
D is the incorrect statement. A currency exchange is classified as an MSB, not the other way around.
upvoted 0 times
...
Glenna
4 months ago
I'm going with A. MSBs definitely have a higher money laundering risk than other financial institutions.
upvoted 0 times
Tamala
3 months ago
C) A check cashing company is classified as an MSB.
upvoted 0 times
...
Hillary
3 months ago
No way, that's incorrect. MSBs actually have a higher risk.
upvoted 0 times
...
Precious
3 months ago
A) MSBs tend to have a lower money laundering risk than other financial institutions.
upvoted 0 times
...
Vincenza
3 months ago
C) A check cashing company is not classified as an MSB.
upvoted 0 times
...
Estrella
3 months ago
B) MSBs are generally more strictly regulated than traditional financial institutions.
upvoted 0 times
...
Tenesha
4 months ago
A) MSBs tend to have a lower money laundering risk than other financial institutions.
upvoted 0 times
...
...
Reena
4 months ago
I think B is the correct answer. MSBs tend to have stricter regulations than traditional financial institutions.
upvoted 0 times
Ricarda
3 months ago
That's right, B is incorrect. MSBs are generally less strictly regulated than traditional financial institutions.
upvoted 0 times
...
Ricarda
4 months ago
Actually, B is incorrect. MSBs are generally less strictly regulated than traditional financial institutions.
upvoted 0 times
...
...
Celia
4 months ago
I disagree, I believe the correct answer is B.
upvoted 0 times
...
Irma
4 months ago
I think the correct answer is A.
upvoted 0 times
...

Save Cancel