Investments Wealth Institute Practice Test & Exam Prep

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A wealth manager notices that a long-standing client suddenly wants to deposit a large sum of cash from an unfamiliar offshore account. What is the MOST appropriate first action?

File a Suspicious Activity Report (SAR) with the firm's MLRO Reject the deposit and close the client account Tell the client that the firm cannot accept funds from offshore accounts Process the deposit because the client is long-standing

Correct Answer:

File a Suspicious Activity Report (SAR) with the firm's MLRO

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