AML Certification Practice

AML Exam 4 All of the following are methods that law enforcement may use to request information from a financial institution during the course of a criminal investigation EXCEPT - ANSWER-Asking an AML officer to hand over all account records of the targeted suspect A financial institution may i...

AML Exam 3 According to AML/CFT risk categories, __________ customers may include PEPs, certain types of MSBs, or cash intensive businesses. - ANSWER-High risk Examples of high risk customers - ANSWER-PEPs, MSBs, cash intensive businesses When assessing the ML risks of various territories and c...

AML Exam (CE) Questions and answers

AML/KYC What does SPDD stand for? - ANSWER-Special Due Diligence What does EDD stand for? - ANSWER-Enhanced Due Diligence What does CDD stand for? - ANSWER-Customer Due Diligence During an Automatic High Risk review process the Entity and Client will both need what done? - ANSWER-Media Search ...

AML Test 1 1) Gatekeepers are defined as __________________. A. professionals such as lawyers, accountants, private bankers, investment advisors and trust and company service providers. B. professionals such as lawyers, accountants, notaries and foreign exchange dealers. C. professionals such ...

AML Test Study Guide Insurance companies are required to file SAR with: A) FBI B) IRS C) FATF D) FinCEN - ANSWER-D) FinCEN Which of the following insurance products are not covered by AML regulations? A) an annuity contract other than a group annuities contract B) whole life insurance C) un...

Anti Money laundering Quiz What are the 4 elements of fraud? - ANSWER-1 matter false statement 2 know statement is false 3 rely on false statement 4 financial loss What is the distinct difference between a fraud and an attempted fraud? - ANSWER-loss of money ________ _____________ _ _ _ _ _ _...

AML Test Questions What are the four elements of fraud? - ANSWER-1. Material false statement 2. Knowledge that statement is false 3. Reliance on false statement 4. Financial loss What is the distinct difference between a fraud and an attempted fraud? - ANSWER-Financial loss What is the proces...

AML Volume D Exam Study Guide C.P. Snow - ANSWER-A British novelist and physicist who divided people into "two cultures" --science versus letters. Karl Marx - ANSWER-German philosopher who divided industrial societies into two antagonistic classes, capital versus labor, and whose ideas formed ...

AML Certification Practice Which of the following is not a common element in money laundering schemes? - ANSWER-A bank account with consistently routine activity Which of the following sequences accurately reflects the money laundering process? - ANSWER-Placement, layering, integration All of t...

aml exam In the first stage of money laundering what is the goal? a. distance yourself from the money b. get the money into the financial system c. make it appear that the money is legitimate d. purchase high-end goods - answer-b What is the process in the second stage of money laundering? a....

AML and ALL How are hematologic cancers classified? - ANSWER-Cell lineage/cell type What are examples of myeloid cells? - ANSWER-Granulocytes Erythrocytes Monocytes What are lymphocytes? - ANSWER-B and T cells Difference between leukemia and lymphoma? - ANSWER-Origin of the blasts; Bone marro...

Anti-Money Laundering Exam 2 Study Guide FATF's technical compliance assessment focuses on the extent to which the legal and institutional framework of its member is producing the expected results. True or False? - ANSWER-False FATF's 40 Recommendations provide a complete set of countermeasur...

AML 2022 Final Exam Sherwood Anderson -"To show that life in all American small towns is grotesque. -Compassion for the individual mixed with dismay at a social order that can do so much damage -Wing Biddlebaum used to be a schoolmaster who inspired dreams with his hands, but they accuse him ...

AML Final Exam study guide What are the characteristics of the vernacular tradition? - ANSWER-Belonging to, developed in, and spoken or used by the people of a particular place, region or country. Popular forms include songs, prayers, poetry dances and visual art forms of many sorts What is the...

AML Test Questions, CAMS - Chapter 3: Anti-Money Laundering/Counter-Terrorist Financing Compliance Programs, CAMS - Chapter 2: International AML/CFT Standards

AML Exam #2 The Office of Foreign Assets Control (OFAC) is allowed to impose sanctions against certain foreign countries. A. True B. False - ANSWER-A The Financial Action Task Force (FATF) is best known for what? A. Passing EU-Wide laws and policies on AML B. Issuing AML/CTF recommendations f...

Anti-Money Laundering Programs High Risk Business - ANSWER-1. Money Changers, Money Remitters, Casinos, Betting Houses 2. Offshore Corporations/Banks, Tax Havens 3. Car, Boat, Used Car Dealerships 4. Travel Agents, Brokers/Dealers 5. Precious Metals, Precious Stone Dealers 6. Cash intensive b...

Exam AML John Smith - ANSWER-- English explorer who helped found the colony at Jamestown, Virginia - Taken captive by Powhatan men when exploring on the York River- greeted him with a ceremony and feast, then tried to execute him but daughter of mamanatowick (paramount chief) Pocahontas saved h...

Review AML Brad is an agent working with a large general agency. He has just saw a very large life insurance policy to a client who is later discovered to be part of a terrorist network. And restaurant back to the same of this life policy could be viewed as which of the following Placement All ...

AML quiz chapter 1 What is money laundering? - ANSWER-Claiming illegal funds as a legitimate business transaction Who oversees money laundering? - ANSWER-federal regulations like the USA PATRIOT Act, What is AML mean? - ANSWER-AML refers collectively to laws, policies, and company programs int...

AML Test 2 The Office of Foreign Assets Control is allowed to impose sanctions against certain foreign countries - ANSWER-True The Financial Action Task Force is best known for what? - ANSWER-Issuing AML/CTF recommendations for countries to follow The Third EU Directive defined "money launderi...

Money Laundering Test Questions All of the following are primary forces behind increased compliance efforts EXCEPT A. Reputational risk B. A company's good reputation improves business C. Regulatory requirements D. Money laundering activities are on the decline - ANSWER-D Which of the follow...

Anti-Money Laundering Certificate Money Laundering - ANSWER-The process of making dirty money look clean. Criminals disguise the source of funds, changing the form or moving the money to a place where it is less likely to attract attention. The process of money laundering can be broken down into...

AMAL Practice Exam "1. Which of the following is the most common method of laundering money through a legal money services business? A. Exchanging currency and remitting money B. Smuggling bulk cash C. Transferring funds through payable through accounts (PTAs) D. Exchanging Colombian pesos on...

Anti-money Laundering Flash cards Describe the three phases of money laundering. - ANSWER-• Placement is the physical disposal of cash or other assets derived from criminal activity. • Layering is the separation of illicit proceeds from their source by layers of financial transactions intend...