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Foundation CPE Module 6: Chapter 3 – Payments to non-U.S. Persons CPE Module 6 Quiz CPE

Module 6: End of Module Quiz

With Module 6 coming to a close, now is the time to test you to ensure you are making the progress we expect at this point in time.

We will ask you a series of questions that will be related to the information you have learnt so far in the topics we have covered.

This quiz will summarise the topics we have gone over in Module 1. To complete this quiz and move on to Module 2, you must get at least 75% correct.

Time limit: 0

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Question 1 of 20

1. Question
What are two ways to reduce or eliminate the withholding rate on amounts subject to chapter 3?
- A valid treaty claim pursuant to an Income Tax Treaty or an exemption under a tax statute.
- A valid treaty claim pursuant to an Income Tax Treaty would be the only way to eliminate the withholding rate.
- Making an agreement directly with your non-U.S. payee and entering into that agreement.
- Obtaining self certifications and requesting a reduction on withholding
Correct

Incorrect
Question 2 of 20

2. Question
What does NRA stand for when discussing amounts subject to withholding under chapter 3?
- No Related Accounts
- No Residential Association
- Non Resident Alien
- Non Resident Alias
Correct

Incorrect
Question 3 of 20

3. Question
Why was FATCA introduced?
- To further tax non-U.S. persons
- To increase taxation for U.S. persons
- To reduce the tax burden on U.S. persons
- To provide transparency where non-U.S. entities are potentially shielding U.S. beneficial owners from the IRS and allowing them to evade U.S. taxes
Correct

Incorrect
Question 4 of 20

4. Question
What does the acronym ECI stand for?
- Entity, Corporation or Individual
- Exempt Connected Income
- Effectively Connected Income
- Entity Connected Income
Correct

Incorrect
Question 5 of 20

5. Question
Who would provide information about LOB?
- U.S. Persons
- All non-U.S. persons
- Only non-U.S. Individuals
- Entities submitting a form W-8BEN-E
Correct

Incorrect
Question 6 of 20

6. Question
What are two ways to reduce or eliminate the withholding rate on amounts subject to chapter 3?
- A valid treaty claim pursuant to an Income Tax Treaty or an exemption under a tax statute.
- A valid treaty claim pursuant to an Income Tax Treaty would be the only way to eliminate the withholding rate.
- Making an agreement directly with your non-U.S. payee and entering into that agreement.
- Obtaining self certifications and requesting a reduction on withholding
Correct

Incorrect
Question 7 of 20

7. Question
What does NRA stand for when discussing amounts subject to withholding under chapter 3?
- No Related Accounts
- No Residential Association
- Non Resident Alien
- Non Resident Alias
Correct

Incorrect
Question 8 of 20

8. Question
Why was FATCA introduced?
- To further tax non-U.S. persons
- To increase taxation for U.S. persons
- To reduce the tax burden on U.S. persons
- To provide transparency where non-U.S. entities are potentially shielding U.S. beneficial owners from the IRS and allowing them to evade U.S. taxes
Correct

Incorrect
Question 9 of 20

9. Question
What does the acronym ECI stand for?
- Entity, Corporation or Individual
- Exempt Connected Income
- Effectively Connected Income
- Entity Connected Income
Correct

Incorrect
Question 10 of 20

10. Question
Who would provide information about LOB?
- U.S. Persons
- All non-U.S. persons
- Only non-U.S. Individuals
- Entities submitting a form W-8BEN-E
Correct

Incorrect
Question 11 of 20

11. Question
What are two ways to reduce or eliminate the withholding rate on amounts subject to chapter 3?
- A valid treaty claim pursuant to an Income Tax Treaty or an exemption under a tax statute.
- A valid treaty claim pursuant to an Income Tax Treaty would be the only way to eliminate the withholding rate.
- Making an agreement directly with your non-U.S. payee and entering into that agreement.
- Obtaining self certifications and requesting a reduction on withholding
Correct

Incorrect
Question 12 of 20

12. Question
What does NRA stand for when discussing amounts subject to withholding under chapter 3?
- No Related Accounts
- No Residential Association
- Non Resident Alien
- Non Resident Alias
Correct

Incorrect
Question 13 of 20

13. Question
Why was FATCA introduced?
- To further tax non-U.S. persons
- To increase taxation for U.S. persons
- To reduce the tax burden on U.S. persons
- To provide transparency where non-U.S. entities are potentially shielding U.S. beneficial owners from the IRS and allowing them to evade U.S. taxes
Correct

Incorrect
Question 14 of 20

14. Question
What does the acronym ECI stand for?
- Entity, Corporation or Individual
- Exempt Connected Income
- Effectively Connected Income
- Entity Connected Income
Correct

Incorrect
Question 15 of 20

15. Question
Who would provide information about LOB?
- U.S. Persons
- All non-U.S. persons
- Only non-U.S. Individuals
- Entities submitting a form W-8BEN-E
Correct

Incorrect
Question 16 of 20

16. Question
What are two ways to reduce or eliminate the withholding rate on amounts subject to chapter 3?
- A valid treaty claim pursuant to an Income Tax Treaty or an exemption under a tax statute.
- A valid treaty claim pursuant to an Income Tax Treaty would be the only way to eliminate the withholding rate.
- Making an agreement directly with your non-U.S. payee and entering into that agreement.
- Obtaining self certifications and requesting a reduction on withholding
Correct

Incorrect
Question 17 of 20

17. Question
What does NRA stand for when discussing amounts subject to withholding under chapter 3?
- No Related Accounts
- No Residential Association
- Non Resident Alien
- Non Resident Alias
Correct

Incorrect
Question 18 of 20

18. Question
Why was FATCA introduced?
- To further tax non-U.S. persons
- To increase taxation for U.S. persons
- To reduce the tax burden on U.S. persons
- To provide transparency where non-U.S. entities are potentially shielding U.S. beneficial owners from the IRS and allowing them to evade U.S. taxes
Correct

Incorrect
Question 19 of 20

19. Question
What does the acronym ECI stand for?
- Entity, Corporation or Individual
- Exempt Connected Income
- Effectively Connected Income
- Entity Connected Income
Correct

Incorrect
Question 20 of 20

20. Question
Who would provide information about LOB?
- U.S. Persons
- All non-U.S. persons
- Only non-U.S. Individuals
- Entities submitting a form W-8BEN-E
Correct

Incorrect

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