VIP Exclusive
CSCP Certified Securities Compliance Professional VIP Practice Exam
CSCP — The CSCP (Certified Securities Compliance Professional) is a credential offered by the Securities Industry and Financial Markets Association (SIFMA) through its affiliate NRS (National Regulatory Services), designed for broker-dealer and investment adviser compliance professionals; the exam covers regulatory frameworks, compliance program management, AML, supervision, and market integrity across SEC and FINRA rules.
30
Questions
150m
Time Limit
70.00%
To Pass
Question 1 of 30👑 VIP
A compliance officer at a mid-sized broker-dealer receives a referral from the sales desk about a new institutional client wishing to open a prime brokerage account. The client is a fund registered in the Cayman Islands with a U.S.-based investment manager. During the onboarding review, the compliance officer discovers that the fund's beneficial ownership documentation lists only the fund vehicle itself, not the ultimate natural persons with 25% or more ownership. Under FinCEN's Customer Due Diligence (CDD) Rule, which of the following best describes the broker-dealer's obligation?
Questions 2–30 and full explanations are VIP-exclusive.