Chapter 5 Random Flashcards
Gheeta was out walking and saw a “For Sale” sign on the lawn of a house called Green Acres. She decided to ask the owners about the price of the property. Unknown to Gheeta, the owners of Green Acres were away on a long vacation in Jamaica. As Gheeta was walking across the lawn of Green Acres a long branch from an old tree which grew in a neighbouring yard fell down and hit her. As a result, Gheeta broke her leg and could not return to work for two months. Which of the following statements is TRUE?
(1) Gheeta can sue the owners of Green Acres for her lost wages only if she can prove that they knew of the hazard presented by the old tree.
(2) The owners of Green Acres are not liable to Gheeta because they were not home at the time of the accident.
(3) Only the owners of the tree are liable to Gheeta for her lost wages.
(4) None of the above is true
4
A visitor enters an apartment building to visit a tenant. As he enters the lobby, the skylight above collapses, injuring the visitor. Any lawsuit resulting from the above injury will be covered by:
(1) fire insurance.
(2) third party liability insurance.
(3) plate glass insurance.
(4) visitor’s insurance.
2
Which of the following statements is TRUE?
(1) A licensee can protect him or herself from all liability for misrepresentation by having the vendor complete and sign a disclosure statement at the time the property is listed.
(2) A licensee will not be liable for the tort of fraudulent misrepresentation unless he or she has some expertise in the particular area.
(3) A licensee will be vicariously liable to a buyer for incorrect information given by the licensee to the vendor who passed the information on to the buyer.
(4) A licensee is not required to provide opinions to buyers on areas outside his or her expertise; rather, it is the buyer’s responsibility to seek the opinion of a qualified expert.
4
a licensee is required to file a suspicious transaction report when they think a transaction is related to money laundering or terrorist financing offense and it meets which of the following burdens of proof
- reasonable grounds to believe
- reasonable ground to suspect
- belief beyond a reasonable doubt
- a simple suspicion
2
which of the following describes a method of identifying an individual that meets licensees “know your client” obligation under the proceeds of crime (money laundering) and terrorist financing act?
- viewing a client’s government-issued photo identification during a video conferencing call
- matching personal information provided by the client to a Canadian credit file that has been in existence for at least 3 years
- reviewing a clients provincial driver’s license that has been expired for less than 6 months
- referring to information from an offshore financial entity that confirms that the client holds a deposit account with that entity
2
which of the following is an example of an action that a criminal may take during the placement stage of the money laundering process
- arranging or multiple people to deposit small amounts of cash at different financial institutions
- transfering money through a succession of bank accounts in different jurisdictions
- selling real estate that was originally using illicit cash to an unsuspecting buyer
- frequently transfering ownership of a particular property between multiple aquaintances
1
which of the following statements about fintrac’s administrative monetary penalties (“amp’s”) is true?
- FINTRAC is required to publish the names of the individuals or entities that have committed violations resulting from AMP
- FINTRAC will automatically issue an AMP whenever it receives evidence that a reporting entity has committed a violation
- FINTRAC is required to disclose all cases of non compliance to law enforcement agencies for the assessment of potential criminal charges
- FINTRACT can impose a penalty of up to $2 million through AMP
1
