Classification of programs
What is program classification?
The PROGRAM CLASSIFICATION STRUCTURE (PCS) is a set of categories and related definitions, which allows its users to examine the operations of a post secondary education institution as they relate to the accomplishment of that institution’s objectives.
What is CIP classification code?
The CIP code is a six-digit number (xx. xxxx) that identifies instructional programs. The first two digits represent the most general grouping of related programs and are meant to encompass all instructional programs offered by all institutions of higher education in the United States.
What is CIP in college?
The Classification of Instructional Programs (CIP) is a taxonomy of academic programs developed by the US Department of Education. Colleges and universities across the country assign CIP codes to their academic programs. CIP codes are also often assigned to courses, certificates, and degrees.
How many CIP codes are there?
CIP 2020 includes 459 new 6-digit CIP Codes and the creation of Series 61 (Medical Residency/Fellowship Programs).
How do you read a CIP code?
How to Read a CIP Code. The CIP is subdivided in a hierarchical, three-level structure. The highest level is the 2-digit series, which is composed of 47 categories. This is followed by the 4-digit series, composed of 421 categories, and the final level 6-digit series which is composed of 1,847 classifications.
Why are CIP codes important?
The Classification of Instructional Programs (CIP) is a taxonomic coding scheme of instructional programs. Its purpose is to facilitate the organization, collection, and reporting of fields of study and program completions.
Who assigns CIP code?
Universities assign CIP codes to their academic programs. Each program of study has a 6-digit CIP code (xx.
What is CIP in banking?
This joint regulation implements section 326. 1. of the USA PATRIOT Act and requires banks, savings associations, credit unions and certain non-federally regulated banks (“bank”) to have a Customer Identification Program (“CIP”).
What is the full form of CIP?
Carriage and Insurance Paid To (CIP)
What is the CIP code for data science?
Detail for CIP Code 30.7001
Title: Data Science, General. Definition: A program that focuses on the analysis of large scale data sources from the interdisciplinary perspectives of applied statistics, computer science, data storage, data representation, data modeling, mathematics, and statistics.
What is CDD and EDD?
Customer due diligence (CDD) and enhanced due diligence (EDD) are different tiers of know your customer (KYC) processes completed by businesses on their customers. They’re mandated by regulatory organizations for many different industries, but are most prevalent across financial services.
What are the three 3 components of KYC?
KYC process includes ID card verification, face verification, document verification such as utility bills as proof of address, and biometric verification.
What is the difference between CIP and CDD?
CIP: The collection and verification of consumer provided information establishing a reasonable belief that the consumer exists and is who they say they are. Customer Due Diligence (CDD): Ensuring that a customer is trustworthy and suitable to do business with.
What are the 4 elements of customer due diligence?
The rule presents four core elements of Customer Due Diligence (CDD): Customer identification and verification, Beneficial ownership identification and verification for legal entity customers, Understanding the nature and purpose of the customer relationship to develop a customer risk profile, and.
What is EDD and SDD?
In circumstances posing a low money laundering risk, some regulators allow conducting a simplified check, known as Simplified Due Diligence (SDD). For higher-risk situations, businesses may need to perform more in-depth verification called Enhanced Due Diligence (EDD).
What is SDD in KYC?
Simplified Due Diligence (“SDD”) are situations where the risk for money laundering or terrorist funding is low and a full CDD is not necessary. For example, low value accounts or accounts.
What is CDD checklist?
A customer due diligence (CDD) checklist is a critical part of any business’s compliance program. This document helps companies identify and assess the risk associated with their clients. To mitigate those potential threats, businesses must collect information about their customers and take steps to verify it.
Which are the 3 stages of money laundering?
There are three stages of money laundering:
- Placement Stage. Placement is the first stage of money laundering, which involves transferring funds to a legitimate source through financial institutions, casinos, financial instruments, etc. …
- Layering Stage. …
- Extraction Stage.