Subject Title - INSETA

3. Section 21(1) of the FICA requires accountable institutions to:a) identify new clientsb) verify the particulars of new clientsc) verify the marital status of clientsd) a) and b)4. Section21 (2) states that if an accountable institution had establisheda business relationship with a client before the FICA took effect, itmay not conclude further transactions in the course of that businessrelationship, unless prescribed steps are taken to ensure theidentities of the clients are established and verified – there was aperiod of time granted for compliance with this requirement.a) Trueb) False5. Section 22 of the FICA requires accountable institutions that establisha business relationship or conclude a transaction with a client, tokeep records of a single transaction or of additional transactionsconcluded in the course of a business relationship.a) Trueb) False260 © INSETA - Section 1 12a