AFIP Certification Exam Practice Questions with Verified Answers | Latest 2025/2026 Update.

AFIP Certification Exam Practice
Questions with Verified Answers |
Latest 2025/2026 Update.

Question:

How do you record the customer on the IRS 8300 Form??
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Answer:
SSN Number
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ITIN
Employer Identification Number (Federal TaxID Number)
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Question:
If you have a suspicious transaction (IRS 8300 Form)...?
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Answer:

1. Can't tell customer you're filling out the form even if they ask you
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2. Don't send a written notice to the customer
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Question:

If customer refuses to give SSN (IRS 8300 Form)...?
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,Answer:
Leave that section blank and write customer refused to provide SSN. Put
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drivers license on form and sell the car. You have to tell them what they
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have to do relative to that form. You have to say mr. jones this is what is
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required at this point. Cant just assume they understood what was in the
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instructions.




Question:

Non resident alien, how do you record them on the IRS 8300 Form??
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Answer:
Drivers License Number and Passport Number
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Question:
If you neglect to send in the IRS 8300 Form?
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Answer:
Penalty is $310 per return.
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Question:

Criminal Penalty for willfully filing the IRS 8300 Form with false regard to
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material matter?? i,-




Answer:

,Fine up to 100k for individual
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Fine up to 500k for corporation
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and/or up to 3 years in jail plus the cost of prosecution.
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Question:

You have to give a copy of IRS 8300 to ________.?
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Answer:

every CUSTOMER (not consumer)
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Question:

Safe harbor says if you interpret the law correctly and apply correctly sue
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government. For dealer to have safe harbor protection needs to?
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Answer:
print form off website called form builder and all you can add is your
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corporate logo. i,-




Question:

(Safe Guard Rule) Anything that can be found on the internet or in the
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phone book is public information?
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Answer:
True

, Question:

The objective of the safeguard rule includes...?
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Answer:

a. Ensures the security and confidentiality of consumer and customer
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information

b. Protects information against anticipated threat or hazard
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c. Protects against unauthorized access
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d. DOES NOT require confirming information given was actually related
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(this is the red flag rule)
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Question:

To have a program you need to have...?
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Answer:
1. A Corporate Compliance Officer
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2. Information Security Program
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Question:
In regard the safeguard rule who in the dealership has an obligation??
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Answer: