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Exam Code: IIA-CHAL-SPECENU
Exam Name: CIA Specialty Challenge Exam - English
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NEW QUESTION: 1
An anti-money laundering consultant audits a bank's current anti-money laundering policies, procedures and controls. The bank serves high-income, high net-worth clients who include non-residents and offshore businesses. During a review of the customers list, the anti-money laundering consultant determines that he and the bank have mutual clients. The bank's written anti-money laundering program includes a process for the bank to establish the identity of the person with whom they conduct business, but does not address monitoring of customer account activity.
The consultant should recommend the bank:
A. Revise the procedures to better assess ongoing customer activity.
B. Reduce the risk rating on the mutual customers.
C. Continue to follow the current written anti-money laundering program.
D. Focus on high-risk customer acceptance procedures.
NEW QUESTION: 2
An investor wishes to diversify her portfolio by including real-estate as she has learned that real estate generally has a low correlation with equities. Which of the following vehicles is NOT a publicly traded real-estate investment opportunity?
A. Comingled funds
B. Real estate limited partnerships and real estate investment trusts
C. Private equity
As implied by its name, private equity is not traded publicly. It is a vehicle for pooling funds from many investors and investing them in real estate projects in the form of equity, privately held.
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