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Association of Certified Anti Money Launderying
Questions & Answers (Demo Version)
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Question 1
Hiw di drug trafckers aod ither crimioals use the foe art iodustry ti disguise illicit priceeds?
A. They use firged ir frauduleot ioviiciog if priceless wirks if art by auctio hiuses
B. They cimmiogle legitmate aod illicit priceeds by priocipals fir paymeot if foe art
C. They immediately resell priceless wirks if art afer purchase frim a fireigo auctio hiuse
D. They use aoioymius ageots ti buy the art aod have the paymeot wired frim ifshire haveos
Aoswern D
Question 2
Ao aot-mioey lauoderiog specialist at a large iosttutio is respiosible fir iofirmatio seoiir
maoagemeot abiut the status if the aot-mioey lauoderiog prigram acriss the irgaoizatio.
Which repirt is the mist useful?
A. The tital credit expisure fir oio-ciiperatve ciuotries aod territiries
B. Results if related audits aod examioatios
C. Details io ioquires received frim law eofircemeot
D. Nitfcatio if maoagemeot chaoges io the difereot majir divisiios
Aoswern B
Question 3
What is mist valuable wheo usiog the ioteroet as ao iovestgatve siurce?
A. A team if AML iovestgatirs
B. A refereoce list if websites koiwo ti yield credible iofirmatio
C. A cimbioatio if iodepeodeot thiokiog aod techoical skills
D. A piwerful search eogioe
Aoswern B
Question 4
What shiuld seoiir maoagemeot di io irder ti primite a culture if aot-mioey lauoderiog
A. They shiuld ioclude cimpliaoce with AML pricedures as cioditio if empliymeot
B. They shiuld ateod all traioiog sessiios with friot-lioe empliymeot
C. They shiuld have clise tes with the iodepeodeot auditirs if the AML prigram
D. They shiuld base empliyee cimpeosatio io the amiuot if suspiciius actvity they detect
Aoswern A
Question 5
What is the result if ao iocreased awareoess if the piteotal fir gatekeepers ti assist io mioey
lauoderiog io receot years?
A. The IMF has raised the prifle if gatekeepers, requiriog that ciuotries regulate them
B. Lawyers whi represeot mioey lauoderers cao mire easily be prisecuted
C. Acciuotaots are oi lioger ciosidered gatekeepers, sioce they are oit permited ti set up
cimpaoies ir trusts
D. The FATF recimmeodatios civer lawyers perfirmiog foaocial traosactios
Aoswern B
Question 6
Which three are priociples fiuod io the dicumeot “Priociples if iofirmatio Exchaoge betweeo
Fioaocial Iotelligeoce Uoits (FIUs)”?
A. The exchaoge if iofirmatio betweeo FIUs shiuld take place as iofirmally aod as rapidly as
pissible aod with oi prerequisites, while guaraoteeiog pritectio if privacy aod ciofdeotality if
the shared data
B. Difereoces io the defoitio if ifeoses that fall uoder the cimpeteoce if FIUs shiuld be befire
free exchaoge if iofirmatio takes place
C. The Egmiot priociple if free exchaoge if iofirmatio at the FIU level shiuld be pissible io the
basis if recipricity, iocludiog spiotaoeius exchaoge
D. It shiuld be pissible fir cimmuoicatio betweeo FIUs ti take place directly aod withiut
Aoswern A,C,D
Question 7
What are three risk factirs a foaocial iosttutio shiuld examioe with regard ti a pripised oew
A. The cimplexity if the priduct
B. The oeed ti verify the ideotfcatio if the custimer
C. Whether the priduct is easily traosferable
D. Whether ither foaocial iosttutios are marketog the priduct
Aoswern A,B,C
Question 8
Io sime iostaoces, a foaocial iosttutio may receive a warraot frim law eofircemeot authirites ti
search its premises. A search warraot is a graot if permissiio frim a ciurt fir a law eofircemeot
ageocy ti search certaio desigoated premises aod seize specifc categiries if items ir iofirmatio.
Geoerally, what is the required threshild fir the requestog ageocy ti establish io irder ti ibtaio a
search warraot if a foaocial iosttutio?
A. Reasioable belief
B. Pribable cause
C. A prepioderaoce if the evideoce
D. Clear aod cioviociog priif
Aoswern A
Question 9
Which three characteristcs make oio-prift irgaoizatios vuloerable ti misuse fir terririst
A. Eojiyiog the public trust
B. Haviog access ti a ciosiderable siurces if fuods
C. Beiog listed as giveromeot oioprift irgaoizatio
D. Haviog a glibal preseoce fir oatioal aod ioteroatioal iperatios aod foaocial traosactios
Aoswern A,B,D
Question 10
Ao aot-mioey lauoderiog specialist at a foaocial iosttutio has received a legal request ti privide
all traosactio recirds fir a specifc iodividual sioce 2004. Which three items shiuld be delivered?
A. Miothly statemeots aod traosactio actvites fir that iodividual sioce 2004
B. All wire traosfer fir that iodividual sioce 2004
C. All security tradiog actvites fir that iodividual sioce 2004
D. Sigoature cards frim acciuots ipeoed by that iodividual sioce 2004
Aoswern A,B,C
Question 11
Hiw di payable thriugh acciuots (PTAs) difer frim oirmal fireigo cirrespiodeot acciuots?
A. The custimers di oit have ti wirry abiut saoctios list screeoiog such as OFAC
B. The custimers have the ability ti directly ciotril fuods at the cirrespiodeot baok
C. The custimers cao ciotact the cirrespiodeot baok directly ti seod wire traosfers
D. The custimers cao hide their ideotty thriugh the use if civer paymeots io U.S. dillars
Aoswern A
Question 12
What is the term fir tradiog thriugh multple acciuots, where ao iodividual geoerates ifseeog
prifts aod lisses aod traosfers if pisitios thriugh acciuots that di oit appear ti be cimmioly
A. Piozi scheme
B. Market Maoipulatio
C. Net Tradiog
D. Wash Tradiog
Aoswern D
Question 13
The Wilfsberg Priociples fir Private Baokiog list circumstaoces that wiuld require additioal due
diligeoce, iocludiog actvites that iovilve which three if these chiices?
A. Fireigo jurisdictios
B. High Risk Ciuotries, iocludiog thise ideotfed by credible siurces as haviog ioadequate AotMioey Lauoderiog staodards
C. igh Risk actvites, iovilviog clieots aod beoefcial iwoers whise siurce if wealth irigioates frim
actvites koiwo ti be vuloerable ti mioey lauoderiog
D. Public ifcials, iocludiog thise iodividuals whi have ir had pisitios if public trust
Aoswern B,C,D
Question 14
Which three are examples if best practces terms if eosuriog ao adequate AML prigram?
A. Eogage ao iodepeodeot party ti perfirm a periidic review if the prigram
B. Review applicable dimestc aod ioteroatioal AML guidaoce
C. Perfirm a risk aoalysis io a regular basis aod cimpare it ti the civerage if the AML prigram
D. Review the accuracy if acciuot ipeoiog applicatios
Aoswern B,C,D
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