
Beneficial Ownership
Authored by Leah Greene
Other
Professional Development
Used 42+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which one is considered a Legal Entity Member
Sole Proprietorship
Limited Liability Companies
Unincorporated Associations
Individual
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What do non-profit corporations need to identify?
Control Only
25% or more Owner
25% or less Owner
Owner and Control
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is NOT considered a "triggering event"?
New share on an existing account
Adding/Removing authorized signers
Depositing funds to a Money Market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When is the Information Only Record needed?
When an Owner is a signer on the account
When an Owner is not on the account and owns 24% of the business
When an Owner/Control is not a signer on the account
Information Only Records should always be on the account
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an LLC need to identify?
An Owner and a Control
Owners with less than 25% ownership
Control Only
Tracking 47 record
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these items is needed for all beneficial owners?
Member number
High School attended
Password
Photocopies of valid identification
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Information Only records are created for member use?
True
False
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