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

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Lamar

11 months ago

I think D is the correct answer because currency exchanges are not always classified as MSBs.

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Irma

11 months ago

But MSBs are often used for money laundering, so A makes sense.

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Ramonita

11 months ago

Hmm, this is a tricky one. I'm going to go with B. Those MSBs must be slippery fellows, evading regulations!

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Kristeen

10 months ago

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

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Launa

10 months ago

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

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Enola

10 months ago

I think you're right, B does seem like the odd one out here.

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Virgie

10 months ago

D) A currency exchange is classified as an MSB.

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Luis

10 months ago

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

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Colene

10 months ago

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

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Samira

10 months ago

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

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Sherell

11 months ago

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

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Glenna

11 months ago

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

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Tamala

10 months ago

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

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Hillary

10 months ago

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

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Precious

10 months ago

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

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Vincenza

10 months ago

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

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Estrella

10 months ago

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

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Tenesha

11 months ago

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

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Reena

11 months ago

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

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Ricarda

11 months ago

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

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Ricarda

11 months ago

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

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Celia

11 months ago

I disagree, I believe the correct answer is B.

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Irma

12 months ago

I think the correct answer is A.

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