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?

AMSBs tend to have a tower money laundering risk than other financial institutions.

BMSBs are generally less strictly regulated than traditional financial institutions.

CA check cashing company is classified as an MSB.

DA currency exchange is classified as an MSB.

Show Suggested 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

3 months ago

Definitely, it's important to keep an eye on those slippery MSBs.

upvoted 0 times

...

Launa

3 months ago

Yeah, MSBs can sometimes fly under the radar with regulations.

upvoted 0 times

...

Enola

3 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

4 months ago

C) A check cashing company is classified as an MSB.

upvoted 0 times

...

Colene

4 months ago

B) MSBs are generally less strictly regulated than traditional financial institutions.

upvoted 0 times

...

Samira

4 months ago

A) MSBs tend to have a lower money laundering risk than other financial institutions.

upvoted 0 times

...

Sherell

5 months ago

D is the incorrect statement. A currency exchange is classified as an MSB, not the other way around.

upvoted 0 times

...

Glenna

5 months ago

I'm going with A. MSBs definitely have a higher money laundering risk than other financial institutions.

upvoted 0 times

Tamala

4 months ago

C) A check cashing company is classified as an MSB.

upvoted 0 times

...

Hillary

4 months ago

No way, that's incorrect. MSBs actually have a higher risk.

upvoted 0 times

...

Precious

4 months ago

A) MSBs tend to have a lower money laundering risk than other financial institutions.

upvoted 0 times

...

Vincenza

4 months ago

C) A check cashing company is not classified as an MSB.

upvoted 0 times

...

Estrella

4 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

5 months ago

I think B is the correct answer. MSBs tend to have stricter regulations than traditional financial institutions.

upvoted 0 times

Ricarda

4 months ago

That's right, B is incorrect. MSBs are generally less strictly regulated than traditional financial institutions.

upvoted 0 times

...

Ricarda

5 months ago

Actually, B is incorrect. MSBs are generally less strictly regulated than traditional financial institutions.

upvoted 0 times

...

Celia

5 months ago

I disagree, I believe the correct answer is B.

upvoted 0 times

...

Irma

5 months ago

I think the correct answer is A.

upvoted 0 times

...