WorksheetsFIN370 Quiz Chapter 1
Total questions: 10
Worksheet time: 10mins
Write your full name (for attendance)
Banking is defined as (a) by the (b) created and regulated by the (c)
These activities are banking activities EXCEPT:-
Receiving deposit of money from customers
Making advances or lending to customers
Provide protection against unexpected financial losses
Paying or collecting of cheques
Conventional Banks are licensed under Financial Services Act 2013 whereas Islamic Banks are licensed under (a)
Gharar is prohibited under Islamic banking . Gharar refers to
uncertainty
usury
gambling
forbidden
Major source of income for a bank is
Amount borrowed from other financial institution/inter-bank
borrowing
Savings, Current & Time Deposits
Capital & reserves
Debetures and notes
Major use of funds in a bank is
Cash & reserves with BNM
Deposits at other larger banks
Investments
Loan activities
Spell Out AMLATFPUAA = (a)
What is Money Laundering?
The person who engage directly or indirectly in a transaction that involve proceeds of
any lawful activity
The person who acquires, receive, possesses, disguises, transfers, converts, exchanges,
carries, disposes, uses, removes from or brings into Malaysia proceeds
of any lawful activity
The person who conceals, disguises or impedes the establishment of the nature, origin,
location, movement, disposition, title of, right with respect to, or
ownership of, proceeds of any lawful activity
The person who engage directly or indirectly in a transaction that involve proceeds of
any unlawful activity
The 3 stages of money laundering are
Laundering
Placement
Layering
Integration
