Acams cams practice test

Certified Anti-Money Laundering Specialist Exam

Last exam update: Nov 14 ,2024
Page 1 out of 28. Viewing questions 1-15 out of 406

Question 1

The main purpose of the US Treasury Department for OFAC's extraterritorial reach is to:

  • A. accomplish the foreign policy and national security goals of the US. Most Votes
  • B. defend the US against questionable trade practices of its economic rivals.
  • C. protect allied nations of the US from the economic threats of non-allied nations.
  • D. align OFAC's and other countries' extraterritorial reach requirements.
Mark Question:
Answer:

A


Explanation:
Reference:
https://www.natlawreview.com/article/aggressive-extraterritorial-reach-us-economic-
sanctions-foreign-company-exposure-to

User Votes:
A 332 votes
50%
B 63 votes
50%
C 46 votes
50%
D 99 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
singrajv
1 year, 2 months ago

A. accomplish the foreign policy and national security goals of the US.

tinaguha
1 year, 2 months ago

Accomplish the foreign policy and national security goals of the US.

arkonis
1 year, 1 month ago

A accomplish the foreign policy and national security goals of the US.

wils
1 year, 1 month ago

A. accomplish the foreign policy and national security goals of the US

sindhu.surendr
1 year ago

A. accomplish the foreign policy and national security goals of the US

abbass.yousaf2000
1 year ago


A. accomplish the foreign policy and national security goals of the US.

neginarotam
1 year ago

A. accomplish the foreign policy and national security goals of the US.

dpersoul8
1 year ago

A. accomplish the foreign policy and national security goals of the US.

neginarotam
1 year ago

D. align OFAC's and other countries' extraterritorial reach requirements.

laneshapenrose
1 year ago

A.accomplish the

Kleopapp
1 year ago

A. accomplish the foreign policy and national security goals of the US.

Gautam
1 year ago

Acomplish the foreign

alinemaidla
1 year ago

A. accomplish the foreign policy and national security goals of the US

alinemaidla
1 year ago

A. accomplish the foreign policy and national security goals of the US.

AnaA.
1 year ago

D. align OFAC's and other countries' extraterritorial reach requirements

saranraina
1 year ago

accomplish the foreign policy and national security goals of the US.

saranraina
1 year ago

Thanks for submitting , your comment will be approved soon by our moderators

AnaA.
1 year ago

D. aligner les exigences de portée extraterritoriale de l'OFAC et d'autres pays.

AnaA.
1 year ago

D. align OFAC's and other countries' extraterritorial reach requirements.

AnaA.
1 year ago

D. aligner les exigences de l’OFAC et d’autres pays en matière de portée extraterritoriale.

AnaA.
1 year ago

A. atteindre les objectifs de politique étrangère et de sécurité nationale des États-Unis.

damola.adeyoyin
12 months ago

A. accomplish the foreign policy and national security goals of the US.

adnan_shaikat
11 months, 4 weeks ago

accomplish the foreign policy and national security goals of the US.

adnan_shaikat
11 months, 3 weeks ago

. accomplish the foreign policy and national security goals of the US.

camscert23
11 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

manojsinghsbi
11 months, 3 weeks ago

Defend the US against

FinPro_Audit
11 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

garneohenry
11 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

hiteshj
11 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

hiteshj
11 months, 2 weeks ago

Thanks for submitting , your comment will be approved soon by our moderators

dinbits
11 months, 1 week ago

Accomplish the foreign policy and national security goals of the US.

ganreddy
11 months, 1 week ago

OFAC will economic and trade sanctions which are threat for national securtiy for the US

oluwatoyin
11 months ago

Accomplish the foreign policy and national security goals of the US

aartig7
11 months ago

accomplish the foreign policy and national security goals of the US.

AravindBharathy
10 months, 4 weeks ago

A. accomplish the foreign policy and national security goals of the US.

Kaleemirza
10 months, 4 weeks ago

Align OFAC

Kaleemirza
10 months, 4 weeks ago

Accomplish foreign policy

bbhi
10 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

ACAMSSS
10 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

HanzoMo
10 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

Preetiiii11
10 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US

Sheila
10 months, 2 weeks ago

protect allied nations of the US from the economic threats of non-allied nations.

manunikhikulkarni
10 months, 1 week ago

D. align OFAC's and other countries' extraterritorial reach requirements.

Nathaly
10 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

varun_nanda
10 months, 1 week ago

protect allied nations of the US from the economic threats of non-allied nations.

varun_nanda
10 months, 1 week ago

protect allied nations of the US from the economic threats of non-allied nations.

varun_nanda
10 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

ankitamahadik31
10 months ago

align OFAC's and other countries' extraterritorial reach requirements

Andrea
10 months ago

A. accomplish the foreign policy and national security goals of the US.

Salkuwari
9 months, 4 weeks ago

accomplish the foreign policy and national security goals of the US.

Herooguy
9 months, 4 weeks ago

C. protect allied nations of the US from the economic threats of non-allied nations.

hero
9 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

sharna
9 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

Iyke
9 months, 2 weeks ago

Ok this is it

sunnyvarughese
9 months, 2 weeks ago

Defend the US

sunnyvarughese
9 months, 2 weeks ago

defend the US against questionable trade practices of its economic rivals.

sunnyvarughese
9 months, 2 weeks ago

Thanks for submitting , your comment will be approved soon by our moderators

DommoniqueC
9 months, 2 weeks ago

A. accomplish the foreign policy and national security goals of the US.

xcheatham
9 months, 2 weeks ago

A. accomplish the foreign policy and national security goals of the US.

Otabek
9 months, 2 weeks ago

A.ccomplish the foreign policy and national security goals of the US

Debs
9 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

Alfadio
9 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

Tukahirwa
9 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

ummer2218
9 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

mekoran
9 months ago

align ofac's and other countries' extraterritorial reach requirements

NicoleP
9 months ago

A. accomplish the foreign policy and national security goals of the US.

Delanium
9 months ago

accomplish the foreign policy and national security goals of the US.

nonkeyizana
9 months ago

A. Accomplish the foreign policy

nonkeyizana
9 months ago

A. accomplish the foreign policy and national security goals of the US.

lll
9 months ago

A. accomplish the foreign policy and national security goals of the US.

alo152
9 months ago

accomplish the foreign policy and national security goals of the US.

vivec7
9 months ago

A. accomplish the foreign policy and national security goals of the US.

nazishkhan1979
8 months, 4 weeks ago

A. accomplish the foreign policy and national security goals of the US.

vivek_1236
8 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

vivec7
8 months, 3 weeks ago

. accomplish the foreign policy and national security goals of the US.

CSP82
8 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US

mj
8 months, 2 weeks ago

A. accomplish the foreign policy and national security goals of the US.

CURNOX92
8 months, 2 weeks ago

A. accomplish the foreign policy and national security goals of the US.

NGUIMOUTH
8 months, 2 weeks ago

accomplish the

Gulnara
8 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

Gulnara
8 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

Gulnara
8 months, 2 weeks ago

Thanks for submitting , your comment will be approved soon by our moderators

tufenkji
8 months, 2 weeks ago

A. accomplish the foreign policy and national security goals of the US.

Gulnara
8 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

Gulnara
8 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

orgertaabazi
8 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

smtcntrk
8 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

smtcntrk
8 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

Divyabajaj1990
8 months ago

a. accomplish the foreign policy and national security goals of the US

yennguyen
8 months ago

A. accomplish the foreign policy and national security goals of the US.

Kiranprasad
7 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

Kiranprasad
7 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

ANkur
7 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

Xiaoyi
7 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

Peenya
7 months, 1 week ago

accomplish the foreign policy and national security goals of the US

Vinaygajula
7 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

sulekhasingh
7 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

ummer2218
7 months, 1 week ago

D. align OFAC's and other countries' extraterritorial reach requirements.

balasaravanen82
7 months ago

accomplish the foreign policy and national security goals of the US.

balasaravanen82
7 months ago

Thanks for submitting , your comment will be approved soon by our moderators

Ingrid
6 months, 3 weeks ago

This is the

sandhyashankars
6 months, 3 weeks ago

protect allied nations of the US from the economic threats of non-allied nations.

faheemqureshi39
6 months, 3 weeks ago


accomplish the foreign policy and national security goals of the US

dion_loef
6 months, 2 weeks ago

A. accomplish the foreign policy and national security goals of the US.

irfan300
6 months, 1 week ago

align OFAC's and other countries' extraterritorial reach requirements.

irfan300
6 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

M.aburabee
6 months ago

تحقيق أهداف السياسة الخارجية والأمن القومي للولايات المتحدة.

M.aburabee
6 months ago

تحقيق أهداف السياسة الخارجية والأمن القومي للولايات المتحدة.

Vidya
5 months, 2 weeks ago

The US Government has an obligation

lobs
5 months, 2 weeks ago

cumplir con los objetivos de política exterior

dmurod
5 months, 1 week ago

okokokokokokok

shilpadilan
5 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

talk2preet
5 months ago

ACAMS guide states "OFAC administers and enforces economic and trade sanctions based on US
foreign policy and national security goals against targeted foreign countries,
terrorists, international narcotics traffickers, and criminals engaged in activities
related to the proliferation of WMD. " hence answer is A

harjansatyajit
5 months ago

Economic rivals do not come into play. It protects the world from worldwide threat

harjansatyajit
5 months ago

Already commented. Whats the answer?

kelvincmmak
5 months ago

B. defend the US against questionable trade practices of its economic rivals.

Jenren
5 months ago

Accomplish

Josephine
4 months, 4 weeks ago

A.accomplish the foreign policy and national security goals of the US

linhnguyen1811
4 months, 4 weeks ago

Answer is A

ayobamitemiloluwa
4 months, 4 weeks ago

align OFAC's and other countries' extraterritorial reach requirements.

harjansatyajit
4 months, 4 weeks ago

A. accomplish the foreign policy and national security goals of the US.

farhanromi
4 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

farhanromi
4 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

farhanromi
4 months, 3 weeks ago

A. accomplish the foreign policy and national security goals of the US.

towhid.hossain
4 months, 3 weeks ago

defend the US against questionable trade practices of its economic rivals.

1871
4 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

dwnmaina
4 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

Khadermeeran
4 months ago

accomplish the foreign policy and national security goals of the US

Eman
4 months ago

. تحقيق أهداف السياسة الخارجية والأمن القومي للولايات المتحدة

Eman
4 months ago

توثيق سياسة قبول العملاء
د. إنشاء نظام مراقبة مستمر للحسابات عالية

Ilovejazz76
3 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

s9716600377
3 months, 3 weeks ago

B. defend the US against questionable trade practices of its economic rivals.

henrietta.umoh
3 months, 2 weeks ago

defend the US against questionable trade practices of its economic rivals.

lamiyehi
3 months, 2 weeks ago

align OFAC's and other countries' extraterritorial reach requirements.

LAURA_GHEORGHE13
3 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

nagesh
3 months ago

accomplish the foreign policy and national security goals of the US.

Radhika
3 months ago

Answer is option A

LAURA_GHEORGHE13
3 months ago

A. accomplish the foreign policy and national security goals of the US.

aiv
2 months, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

Radhika
2 months, 3 weeks ago

C is the answer

OORVESH
2 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

ndhami
2 months, 2 weeks ago

accomplish the foreign policy and national security goals of the US.

Dashadash
2 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

xcheatham
2 months, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

jdu1122
2 months, 1 week ago

protect allied nations of the US from the economic threats of non-allied nations.

kaklimala
2 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

karimqasim
2 months ago

protect allied nations of the US from the economic threats of non-allied nations.

Kareema
1 month, 4 weeks ago

the answer is in:

Abhay9582303944
1 month, 4 weeks ago

A. accomplish the foreign policy and national security goals of the US.

luckwaters
1 month, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

assarejoyce77
1 month, 3 weeks ago

accomplish the foreign policy and national security goals of the US.

King1234
1 month, 2 weeks ago

Teeyheehehheheehe

rodrigomcf
1 month, 2 weeks ago

OFAC's extraterritorial reach is primarily aimed at enforcing U.S. sanctions in alignment with the country's foreign policy and national security objectives. Its sanctions often extend beyond U.S. borders to prevent entities, both domestic and foreign, from engaging in activities that may undermine these goals.

zeeali
1 month, 1 week ago

align OFAC's and other countries' extraterritorial reach requirements.

maluednathan
1 month, 1 week ago

Choosing this item A for my answer.

khalil.alblooshi
1 month, 1 week ago

A. accomplish the foreign policy and national security goals of the US.

KMCAMS2024
1 month ago

A. accomplish the foreign policy and national security goals of the US.

Nis
1 month ago

align OFAC's and other countries' extraterritorial reach requirements.

Priyanka
3 weeks, 4 days ago

Accomplish

ameen.pukhraj
3 weeks ago

A is the correct answer

laura.trasculescu
2 weeks, 1 day ago

A. accomplish the foreign policy and national security goals of the US.

Salim1475
4 days, 11 hours ago

Seems correct to me

beatrizce17
2 days, 17 hours ago

D. align OFAC's and other countries' extraterritorial reach requirements.


Question 2

The bank's Compliance Officer is tasked with designing standards based on Basel's KYC principles.
Which essential elements should be included in the program? (Choose two.)

  • A. Appointing an independent audit function
  • B. Conducting a money laundering risk assessment
  • C. Documenting a customer acceptance policy Most Votes
  • D. Establishing on-going monitoring of high-risk accounts Most Votes
  • E. Reporting suspicious activity
Mark Question:
Answer:

C, E


Explanation:
Reference:
https://www.bis.org/publ/bcbs77.pdf

User Votes:
A 58 votes
50%
B 175 votes
50%
C 237 votes
50%
D 191 votes
50%
E 122 votes
50%
Discussions
vote your answer:
A
B
C
D
E
0 / 1000
amarillys
1 year, 2 months ago

the correct answer id C and D

zinu_cool (replied to amarillys)
1 year, 2 months ago

Yes! I had the same response too, but it says here the correct answer is C & E !

singrajv
1 year, 2 months ago

C. Documenting a customer acceptance policy
E. Reporting suspicious activity

tinaguha
1 year, 2 months ago

Documenting a customer acceptance policy and establishing on-going monitoring of high-risk accounts.

tinaguha
1 year, 2 months ago

The correct answer is C and D.

arkonis
1 year, 1 month ago

It absolutely is C and D

abbass.yousaf2000
1 year ago

A. Appointing an independent audit function

neginarotam
1 year ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

Kleopapp
1 year ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

alinemaidla
1 year ago

B. Conducting a money laundering risk assessment
E. Reporting suspicious activity

AnaA.
1 year ago

B. Conducting a money laundering risk assessment
D. Establishing on-going monitoring of high-risk accounts

AnaA.
1 year ago

B. Réaliser une évaluation des risques de blanchiment de capitaux.
D. Établir une surveillance continue des comptes à haut risque.

AnaA.
1 year ago

D. D. Réalisation d’une évaluation des risques de blanchiment d’argent
D. Mise en place d’une surveillance continue des comptes à haut risque

AnaA.
1 year ago

B. Réaliser une évaluation des risques de blanchiment de capitaux
C. Documenter une politique d'acceptation du client

damola.adeyoyin
12 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

adnan_shaikat
11 months, 4 weeks ago

It will be both C and D.

adnan_shaikat
11 months, 3 weeks ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

FinPro_Audit
11 months, 3 weeks ago

The correct answers C, E

dinbits
11 months, 1 week ago

The most correct answer is C, E.

AravindBharathy
10 months, 4 weeks ago

Documenting a customer acceptance policy

richap
10 months, 3 weeks ago

C. Documenting a customer acceptance policy

Sheila
10 months, 2 weeks ago

,Establishing on-going monitoring of high-risk accounts, Conducting a money laundering risk assessment

Nathaly
10 months, 1 week ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

ldj32780
10 months, 1 week ago

I would have thought D would be applicable also.

varun_nanda
10 months, 1 week ago

Conducting a money laundering risk assessment
Documenting a customer acceptance policy

Salkuwari
9 months, 4 weeks ago

Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

sharna
9 months, 3 weeks ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

sunnyvarughese
9 months, 2 weeks ago

Establishing ongoing monitoring

sunnyvarughese
9 months, 2 weeks ago

Establishing on-going monitoring of high-risk accounts

sunnyvarughese
9 months, 2 weeks ago

Conducting a money laundering risk assessment

sunnyvarughese
9 months, 2 weeks ago

Thanks for submitting , your comment will be approved soon by our moderators

Iyke
9 months, 2 weeks ago

Its just okay

Tukahirwa
9 months, 1 week ago

Conducting a money laundering risk assessment and Reporting suspicious activity

lll
9 months ago

Conducting a money laundering risk assessment
E. Reporting suspicious activity

CSP82
8 months, 3 weeks ago

Reporting suspicious activity Conducting a money laundering risk assessment

orgertaabazi
8 months, 1 week ago

Documenting a customer acceptance policy and Reporting suspicious activity

Divyabajaj1990
8 months ago

. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

Xiaoyi
7 months, 1 week ago

4 Key elements: customer identification, risk management, customer acceptance policy and ongoing monitoring. So C&D.

Vinaygajula
7 months, 1 week ago

accomplish the foreign policy and national security goals of the US.

sulekhasingh
7 months, 1 week ago

Conducting a money laundering risk assessment
C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

sekijogos
6 months, 3 weeks ago

10 CHARACTERS OR MORE

dion_loef
6 months, 2 weeks ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

kmurtaza465
6 months ago

C. Documenting a customer acceptance policy
D. Establishing on-going monitoring of high-risk accounts

shilpadilan
5 months, 1 week ago

C. Documenting a customer acceptance policy
E. Reporting suspicious activity

Jenren
5 months ago

B, D are correct

Josephine
4 months, 4 weeks ago

B.Conducting a money laundering
d.high risk accounts

mmulei
4 months ago

C&D is correct answer

Ilovejazz76
3 months, 3 weeks ago

Appointing an independent audit function
Conducting a money laundering risk assessment

lamiyehi
3 months, 2 weeks ago

B. Conducting a money laundering risk assessment
C. Documenting a customer acceptance policy

LAURA_GHEORGHE13
3 months, 1 week ago

C. Documenting a customer acceptance policy
E. Reporting suspicious activity

nagesh
3 months ago

Conducting a money laundering risk
Documenting a customer acceptance policy

Radhika
3 months ago

C & D is the answer

OORVESH
2 months, 2 weeks ago

Documenting a customer acceptance policy
Reporting suspicious activity

OORVESH
2 months, 2 weeks ago

Reporting suspicious activity

pritiamre
2 months, 2 weeks ago

Conducting a money laundering risk assessment and Establishing on-going monitoring of high-risk accounts

ndhami
2 months, 2 weeks ago

Establishing on-going monitoring of high-risk accounts

Hussain
2 months, 2 weeks ago

Conducting a money laundering risk assessment
Documenting a customer acceptance policy

xcheatham
2 months, 1 week ago

D. Establishing on-going monitoring of high-risk accounts
E. Reporting suspicious activity

kaklimala
2 months, 1 week ago

Documenting a customer acceptance policy and Establishing on-going monitoring of high-risk accounts

Kareema
1 month, 4 weeks ago

Not: A or B: because they are principles of AML/CFT Program not KYC
Not: D because "monitoring" is always for suspicious activities not only for high risk
so the closest answer are C and E

Abhay9582303944
1 month, 4 weeks ago

D and E is the answer as per Basel principle

Nis
1 month ago

Conducting a money laundering risk assessment


Question 3

A SAR/STR should be filed when the accountable institution identifies that:

  • A. a customer makes a cash deposit in round dollars.
  • B. cash transactions have values which avoid reporting thresholds. Most Votes
  • C. an alert is generated by a transaction monitoring system.
  • D. an employee is not clearing alerts in a timely manner.
Mark Question:
Answer:

C


Explanation:
Reference:
https://www.fdic.gov/regulations/examinations/supervisory/insights/siwin07/article03_connecting.
html

User Votes:
A 32 votes
50%
B 208 votes
50%
C 128 votes
50%
D 7 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
tinaguha
1 year, 2 months ago

The answer is B and C.

arkonis
1 year, 1 month ago

B implies that there are multiple transactions avoiding the threshold which would be a reason to file a STR

abbass.yousaf2000
1 year ago

C. an alert is generated by a transaction monitoring system.

neginarotam
1 year ago

B. cash transactions have values which avoid reporting thresholds.

laneshapenrose
1 year ago

B.
B. cash transactions have values which avoid reporting thresholds.

Kleopapp
1 year ago

B. cash transactions have values which avoid reporting thresholds.

alinemaidla
1 year ago

cash transactions have values which avoid reporting thresholds & an alert is generated by a transaction monitoring system.

AnaA.
1 year ago

B. cash transactions have values which avoid reporting thresholds.

AnaA.
1 year ago

B. les transactions en espèces ont des valeurs qui évitent les seuils de déclaration.

AnaA.
1 year ago

D. D. Les transactions en espèces ont des valeurs qui évitent les seuils de déclaration.

AnaA.
1 year ago

C. une alerte est générée par un système de surveillance des transactions.

damola.adeyoyin
12 months ago

B. cash transactions have values which avoid reporting thresholds

damola.adeyoyin
12 months ago

Thanks for submitting , your comment will be approved soon by our moderators

adnan_shaikat
11 months, 4 weeks ago

B implies the activity related to Structuring which would be a reason to file a STR

adnan_shaikat
11 months, 4 weeks ago

cash transactions have values which avoid reporting thresholds.

adnan_shaikat
11 months, 3 weeks ago

B. cash transactions have values which avoid reporting thresholds

adnan_shaikat
11 months, 3 weeks ago

B. cash transactions have values which avoid reporting thresholds.

dinbits
11 months, 1 week ago

The expected answer is C. However B is also true since the answer, as it is written, implies intent and a textbook example of surfing.

AravindBharathy
10 months, 4 weeks ago

B. cash transactions have values which avoid reporting thresholds.

Sheila
10 months, 2 weeks ago

The answer is B

Sheila
10 months, 2 weeks ago

The answer is C

manunikhikulkarni
10 months, 1 week ago

C. an alert is generated by a transaction monitoring system.

Nathaly
10 months, 1 week ago

B. cash transactions have values which avoid reporting thresholds.
C. an alert is generated by a transaction monitoring system.

ldj32780
10 months, 1 week ago

B and maybe C.

ldj32780
10 months, 1 week ago

Thanks for submitting , your comment will be approved soon by our moderators

varun_nanda
10 months, 1 week ago

cash transactions have values which avoid reporting thresholds.

Ramzi
10 months, 1 week ago

B. cash transactions have values which avoid reporting thresholds.

Ramzi
10 months, 1 week ago

B. cash transactions have values which avoid reporting thresholds.

elyserrano
10 months ago

A Suspicious Transaction Report (STR) is a document that financial institutions must file with their Financial Intelligence Unit (FIU) whenever there is a suspected case of money laundering or fraud.

YZ1301
9 months, 3 weeks ago

Transaction Monitoring system are designed with Algorithms at Back end. TMS some time generate alerts which are not suspicious. If TMS is s accurate then no need of AML specialist.

sunnyvarughese
9 months, 2 weeks ago

an alert is generated by a transaction monitoring system.

sunnyvarughese
9 months, 2 weeks ago

an alert is generated by a transaction monitoring system.

Tukahirwa
9 months, 1 week ago

B. cash transactions have values which avoid reporting thresholds.

orgertaabazi
8 months, 1 week ago

C. an alert is generated by a transaction monitoring system.

orgertaabazi
8 months, 1 week ago

C. an alert is generated by a transaction monitoring system

Divyabajaj1990
8 months ago

c an alert is generated by a transaction monitoring system.

sulekhasingh
7 months, 1 week ago

an alert is generated by a transaction monitoring system.

sekijogos
6 months, 3 weeks ago

Should be B

dion_loef
6 months, 2 weeks ago

B. cash transactions have values which avoid reporting thresholds.

relhaddad
6 months, 1 week ago

cash transactions have values which avoid reporting thresholds.

kmurtaza465
6 months ago

C. an alert is generated by a transaction monitoring system.

Khizer
5 months, 3 weeks ago

an alert is generated by a transaction monitoring system.

talk2preet
5 months ago

Correct answer should be B as not every alert from a TM system results in filing a SAR

Jenren
5 months ago

Avoid reporting

Josephine
4 months, 4 weeks ago

B avoid reporting thresholds
c. an alert is generated by a transaction monitoring system

farhanromi
4 months, 3 weeks ago

B. cash transactions have values which avoid reporting thresholds.

farhanromi
4 months, 3 weeks ago

B. cash transactions have values which avoid reporting thresholds.

farhanromi
4 months, 3 weeks ago

B. cash transactions have values which avoid reporting thresholds.

farhanromi
4 months, 3 weeks ago

B. cash transactions have values which avoid reporting thresholds.

lamiyehi
3 months, 2 weeks ago

B. cash transactions have values which avoid reporting thresholds.

Chrissy1717
3 months, 1 week ago

Answer is B

nagesh
3 months ago

B. cash transactions have values which avoid reporting thresholds.

Radhika
3 months ago

B is the answer

ndhami
2 months, 2 weeks ago

cash transactions have values which avoid reporting thresholds.

Hussain
2 months, 2 weeks ago

cash transactions have values which avoid reporting thresholds.

xcheatham
2 months, 1 week ago

B. cash transactions have values which avoid reporting thresholds.

Abhay9582303944
1 month, 4 weeks ago

A and C

rodrigomcf
1 month, 2 weeks ago

B. cash transactions have values which avoid reporting thresholds.

Rbongo1990
6 days, 14 hours ago

C is wrong, TMS can gen. 1000's of alerts, you shouldn't submit an SAR for every alert! That'd be insane!

Salim1475
4 days, 11 hours ago

Looks correct to me


Question 4

An analyst reviewing trade finance transactions notices an increase in price of 25% over 12 months
for commodities with the same specification and quantity. Which action should the analyst take?

  • A. Produce an investigation report that finds evidence to substantiate the analyst's suspicion and submit a SAR/STR.
  • B. Produce an investigation report that considers client activity and factors that may have legitimately affected transaction cost. Most Votes
  • C. Produce an updated due diligence record for the client so that monitoring can be enhanced.
  • D. Produce a SAR/STR that describes apparent trade-based money laundering and submit to the Financial Investigation Unit (FIU).
Mark Question:
Answer:

B


User Votes:
A 59 votes
50%
B 125 votes
50%
C 44 votes
50%
D 34 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
tinaguha
1 year, 2 months ago

Product a SAR/STR that describes apparent trade-based money laundering and submit to the FIU.

abbass.yousaf2000
1 year ago

C. Produce an updated due diligence record for the client so that monitoring can be enhanced.

neginarotam
1 year ago

C.Produce an updated due diligence record for the client so that monitoring can be enhanced.

laneshapenrose
1 year ago

D. Produce a SAR/STR that describes apparent trade-based money laundering and submit to the Financial Investigation Unit (FIU).

AnaA.
1 year ago

B. Produce an investigation report that considers client activity and factors that may have legitimately affected transaction cost.

AnaA.
1 year ago

B. Produire un rapport d'enquête qui prend en compte l'activité du client et les facteurs qui peuvent avoir légitimement affecté le coût de transaction.

AnaA.
1 year ago

D. D. Produire un rapport d’enquête qui tient compte de l’activité du client et des facteurs qui peuvent avoir légitimement eu une incidence sur le coût de la transaction.

AnaA.
1 year ago

B. Produire un rapport d'enquête qui prend en compte l'activité du client et les facteurs qui peuvent avoir légitimement affecté le coût de transaction.

adnan_shaikat
11 months, 4 weeks ago

Produce an updated due diligence record for the client so that monitoring can be enhanced.

adnan_shaikat
11 months, 3 weeks ago

C. Produce an updated due diligence record for the client so that monitoring can be enhanced.

dinbits
11 months, 1 week ago

Activity is not inherently suspicious but requires scrutiny, the answer is B.

AravindBharathy
10 months, 4 weeks ago

B. Produce an investigation report that considers client activity and factors that may have legitimately affected transaction cost.

Sheila
10 months, 2 weeks ago

The answer is B

ldj32780
10 months, 1 week ago

B and C. C because it would notify tellers at the branch.

sunnyvarughese
9 months, 2 weeks ago

Produce an investigation report that considers client activity and factors that may have legitimately affected transaction cost.

sunnyvarughese
9 months, 2 weeks ago

Produce an updated due diligence record for the client so that monitoring can be enhanced.

orgertaabazi
8 months, 1 week ago

B. Produce an investigation report that considers client activity and factors that may have legitimately affected transaction cost.

sulekhasingh
7 months, 1 week ago

Produce a SAR/STR that describes apparent trade-based money laundering and submit to the Financial Investigation Unit (FIU).

dion_loef
6 months, 2 weeks ago

B. Produce an investigation report that considers client activity and factors that may have legitimately affected transaction cost.

Jenren
5 months ago

Produce an investigation

maheshwari.pratik23
3 months, 3 weeks ago

Produce an investigation report that finds evidence to substantiate the analyst's suspicion and submit a SAR/STR.

maheshwari.pratik23
3 months, 3 weeks ago

Produce an investigation report that finds evidence to substantiate the analyst's suspicion and submit a SAR/STR.

lamiyehi
3 months, 2 weeks ago

A. Produce an investigation report that finds evidence to substantiate the analyst's suspicion and submit a SAR/STR.

Radhika
3 months ago

D is the right choice

ndhami
2 months, 2 weeks ago

Produce an updated due diligence record for the client so that monitoring can be enhanced.

kaklimala
2 months, 1 week ago

Produce an updated due diligence record for the client so that monitoring can be enhanced.


Question 5

Which key factor would result in the decision for a financial institution (FI) to exit a client
relationship?

  • A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite. Most Votes
  • B. The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available.
  • C. Closing the client accounts will help reduce the number of transaction monitoring alerts.
  • D. Client transactions generate ongoing transaction monitoring alerts that did not result in any SAR/STR filings.
Mark Question:
Answer:

A


User Votes:
A 175 votes
50%
B 51 votes
50%
C 4 votes
50%
D 8 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
tinaguha
1 year, 2 months ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

abbass.yousaf2000
1 year ago

B. The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available

neginarotam
1 year ago

A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

laneshapenrose
1 year ago

A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

AnaA.
1 year ago

B. Le client est un organisme de bienfaisance enregistré connu pour envoyer des fonds vers des zones géographiques à haut risque où les informations disponibles en matière de diligence raisonnable sont limitées.

AnaA.
1 year ago

Un. Après avoir évalué tous les facteurs de risque, le niveau de risque résiduel du client dépasse l’appétit pour le risque de l’institution financière.

AnaA.
1 year ago

A. Après avoir évalué tous les facteurs de risque, le niveau de risque résiduel du client dépasse l'appétit pour le risque de l'IF.

adnan_shaikat
11 months, 4 weeks ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

adnan_shaikat
11 months, 3 weeks ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

dinbits
11 months, 1 week ago

Answer is, A. If the risk factors exceed the appetite, also known as an exposure calculation.

Sheila
10 months, 2 weeks ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

ldj32780
10 months, 1 week ago

I would also look closely at B and add notes to the account for enhanced scrutiny of the account.

sunnyvarughese
9 months, 2 weeks ago

The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available.

sunnyvarughese
9 months, 2 weeks ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

CSP82
8 months, 3 weeks ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

sulekhasingh
7 months, 1 week ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite

dion_loef
6 months, 2 weeks ago

A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite

kmurtaza465
6 months ago

A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

kmurtaza465
6 months ago

A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

Jenren
5 months ago

After assessing

lamiyehi
3 months, 2 weeks ago

B. The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available.

nagesh
3 months ago

The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available

Radhika
3 months ago

A & B is the right choice

ndhami
2 months, 2 weeks ago

The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available.

kaklimala
2 months, 1 week ago

After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

rodrigomcf
1 month, 2 weeks ago

A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.


Question 6

Financial institutions (FIs) perform AML risk assessments to ensure:

  • A. a record for regulators indicating an AML risk assessment was completed at least once.
  • B. internal audit assurance that all AML-related policy and procedures are board approved.
  • C. satisfaction of the board of directors' approved risk appetite.
  • D. proper controls surrounding higher-risk products, services, customers, and geographic locations. Most Votes
Mark Question:
Answer:

D


Explanation:
Reference:
https://www.wolfsberg-
principles.com/sites/default/files/wb/pdfs/faqs/17.%20Wolfsberg-Risk-Assessment-FAQs-2015.pdf

User Votes:
A 21 votes
50%
B 11 votes
50%
C 13 votes
50%
D 179 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
tinaguha
1 year, 2 months ago

proper controls surrounding higher-risk products, services, customers, and geographic locations.

abbass.yousaf2000
1 year ago

B. The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available

neginarotam
1 year ago

D. proper controls surrounding higher-risk products, services, customers, and geographic locations.

laneshapenrose
1 year ago

D. proper controls surrounding higher-risk products, services, customers, and geographic locations.

AnaA.
1 year ago

D. des contrôles appropriés concernant les produits, services, clients et emplacements géographiques à plus haut risque.

AnaA.
1 year ago

D. des contrôles appropriés concernant les produits, les services, les clients et les emplacements géographiques à haut risque.

AnaA.
1 year ago

D. des contrôles appropriés concernant les produits, services, clients et emplacements géographiques à plus haut risque.

adnan_shaikat
11 months, 4 weeks ago

proper controls surrounding higher-risk products, services, customers, and geographic locations

adnan_shaikat
11 months, 3 weeks ago

D.proper controls surrounding higher-risk products, services, customers, and geographic locations.

dinbits
11 months, 1 week ago

D. Proper controls are in place based on RBA.

Sheila
10 months, 2 weeks ago

proper controls surrounding higher-risk products, services, customers, and geographic locations.

manunikhikulkarni
10 months, 1 week ago

D. proper controls surrounding higher-risk products, services, customers, and geographic locations.

ldj32780
10 months, 1 week ago

. proper controls surrounding higher-risk products, services, customers, and geographic locations.

sunnyvarughese
9 months, 2 weeks ago

proper controls surrounding higher-risk products, services, customers, and geographic locations.

sunnyvarughese
9 months, 2 weeks ago

internal audit assurance that all AML-related policy and procedures are board approved.

sunnyvarughese
9 months, 2 weeks ago

internal audit assurance that all AML-related policy and procedures are board approved.

sulekhasingh
7 months, 1 week ago

proper controls surrounding higher-risk products, services, customers, and geographic locations.

dion_loef
6 months, 2 weeks ago

D. proper controls surrounding higher-risk products, services, customers, and geographic locations.

kmurtaza465
6 months ago

D. proper controls surrounding higher-risk products, services, customers, and geographic locations.

Jenren
5 months ago

Proper control

Preethi
3 months, 1 week ago


D. proper controls surrounding higher-risk products, services, customers, and geographic locations

Radhika
3 months ago

The answer is D

ndhami
2 months, 2 weeks ago

proper controls surrounding higher-risk products, services, customers, and geographic locations.

kaklimala
2 months, 1 week ago

proper controls surrounding higher-risk products, services, customers, and geographic locations.

rodrigomcf
1 month, 2 weeks ago

D. proper controls surrounding higher-risk products, services, customers, and geographic locations.


Question 7

What national agency is responsible for analyzing and assessing the information it receives to
substantiate possible existence of money laundering or terrorist financing activities?

  • A. The Financial Intelligence Unit (FIU) Most Votes
  • B. FATF
  • C. The Basel Committee
  • D. The Wolfsberg Group
Mark Question:
Answer:

B


Explanation:
Reference:
https://www.fatf-
gafi.org/media/fatf/content/images/National_ML_TF_Risk_Assessment.pdf

User Votes:
A 154 votes
50%
B 52 votes
50%
C 6 votes
50%
D 4 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
SigappiGandhi
1 year, 2 months ago

FIU is a national agency receive and analyze the data

zinu_cool
1 year, 2 months ago

FATF is a national agency??

dinbits (replied to zinu_cool)
11 months, 1 week ago

No. It's not. Ita a multi government agency based in France.

zinu_cool
1 year, 2 months ago

The correct answer is A! this mock exams is so misleading!

tinaguha
1 year, 2 months ago

The Financial Intelligence Unit (FIU)

neginarotam
1 year ago

A. The Financial Intelligence Unit (FIU)

laneshapenrose
1 year ago

A. The Financial Intelligence Unit (FIU)

AnaA.
1 year ago

A. La Cellule de Renseignement Financier (CRF)

AnaA.
1 year ago

Un. La Cellule de renseignement financier (CRF)

AnaA.
1 year ago

B. GAFI...

adnan_shaikat
11 months, 4 weeks ago

A. The Financial Intelligence Unit (FIU)

adnan_shaikat
11 months, 3 weeks ago

The Financial Intelligence Unit (FIU)

dinbits
11 months, 1 week ago

The answer is A, the FIU such as FinCEN (US), FinTRAC (CA), or AUSTRAC (AU).

Sheila
10 months, 2 weeks ago

The Financial Intelligence Unit (FIU)

ldj32780
10 months, 1 week ago

. The Financial Intelligence Unit (FIU)

sunnyvarughese
9 months, 2 weeks ago

The The Financial Intelligence Unit (FIU) (FIU)

sunnyvarughese
9 months, 2 weeks ago

The Financial Intelligence Unit (FIU)

sulekhasingh
7 months, 1 week ago

The Financial Intelligence Unit (FIU)

dion_loef
6 months, 2 weeks ago

A. The Financial Intelligence Unit (FIU)

talk2preet
5 months ago

Answer A is correct as FATF is not a national agency

linhnguyen1811
4 months, 4 weeks ago

of cource A becaue national agency can't be FATF, Basel commitee and the Wolfberg Group

ndhami
2 months, 2 weeks ago

The Financial Intelligence Unit (FIU)

kaklimala
2 months, 1 week ago

The Financial Intelligence Unit (FIU)

rodrigomcf
1 month, 2 weeks ago

A. The Financial Intelligence Unit (FIU)


Question 8

When performing a risk assessment, which factors should be considered when identifying and
measuring risk? (Choose two.)

  • A. Customer composition Most Votes
  • B. Financial performance
  • C. Product offerings Most Votes
  • D. Regulatory environment
  • E. Company culture
Mark Question:
Answer:

A, D


User Votes:
A 135 votes
50%
B 34 votes
50%
C 121 votes
50%
D 85 votes
50%
E 8 votes
50%
Discussions
vote your answer:
A
B
C
D
E
0 / 1000
Reena
1 year, 2 months ago

A C

tinaguha
1 year, 2 months ago

Customer composition and Product offerings

neginarotam
1 year ago

A. Customer composition
C. Product offerings

AnaA.
1 year ago

B. Performance financière
D. Environnement réglementaire

AnaA.
1 year ago

C. Offres de produits
D. Environnement réglementaire

adnan_shaikat
11 months, 3 weeks ago

A. Customer composition
C. Product offerings

Sheila
10 months, 2 weeks ago

Customer composition and Product offerings

ldj32780
10 months, 1 week ago

Why C? I don't understand why product offerings would come into play.

sunnyvarughese
9 months, 2 weeks ago

Customer composition

sunnyvarughese
9 months, 2 weeks ago

Regulatory environment

sulekhasingh
7 months, 1 week ago

Product offerings, Customer composition

dion_loef
6 months, 2 weeks ago

A. Customer composition
C. Product offerings

adnan_shaikat
5 months, 2 weeks ago

Customer composition,Product offerings

ndhami
2 months, 2 weeks ago

Customer composition

Salim1475
4 days, 11 hours ago

Looks correct to me


Question 9

Which are common types of economic sanctions? (Choose three.)

  • A. Targeted sanctions Most Votes
  • B. Technological sanctions
  • C. SWIFT network sanctions
  • D. Sectoral sanctions Most Votes
  • E. Supervisory sanctions
  • F. Comprehensive sanction
Mark Question:
Answer:

A, C, F


Explanation:
Reference:
https://www.cfr.org/backgrounder/what-are-economic-sanctions

User Votes:
A 154 votes
50%
B 23 votes
50%
C 61 votes
50%
D 121 votes
50%
E 46 votes
50%
F 116 votes
50%
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A
B
C
D
E
F
0 / 1000
tinaguha
1 year, 2 months ago

Targeted sanctions, sectoral sanctions, SWIFT network sanctions.

neginarotam
1 year ago

D. Sectoral sanctions
E. Supervisory sanctions
F. Comprehensive sanction

laneshapenrose
1 year ago

A, and D, and F

alinemaidla
1 year ago

A, C, D answers

AnaA.
1 year ago

D. Sanctions sectorielles

AnaA.
1 year ago

Un. Sanctions ciblées
C. Sanctions contre le réseau SWIFT
F. Sanction globale

adnan_shaikat
11 months, 3 weeks ago

A. Targeted sanctions
B. Technological sanctions
D. Sectoral sanctions

Sheila
10 months, 2 weeks ago

The answer is A C and F

sunnyvarughese
9 months, 2 weeks ago

Comprehensive sanction

ananthb_1976
8 months, 2 weeks ago

It is A, D and F

sulekhasingh
7 months, 1 week ago

Targeted sanctions Sectoral sanction Comprehensive sanction

dion_loef
6 months, 2 weeks ago

A. Targeted sanctions
D. Sectoral sanctions
F. Comprehensive sanction

ndhami
2 months, 2 weeks ago

SWIFT network sanctions


Question 10

Which private banking situation requires due diligence actions to be implemented according to the
AML principles of the Wolfsberg group?

  • A. A local wealthy individual wants to become a customer of a local retail bank.
  • B. A beneficial owner of an exchange house wants to open an account with the bank.
  • C. A wealthy individual from a high-risk country wants to open an account with a private bank. Most Votes
  • D. A new customer asks to set up an exchange house using the bank as the correspondent.
Mark Question:
Answer:

C


User Votes:
A 4 votes
50%
B 16 votes
50%
C 125 votes
50%
D 45 votes
50%
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A
B
C
D
0 / 1000
tinaguha
1 year, 2 months ago

A wealthy individual from a high-risk country wants to open an account with a private bank.

neginarotam
1 year ago

C. A wealthy individual from a high-risk country wants to open an account with a private bank.

laneshapenrose
1 year ago

C is my answer

AnaA.
1 year ago

B. Un bénéficiaire effectif d’une maison de change souhaite ouvrir un compte auprès de la banque.
C. Un riche particulier originaire d’un pays à haut risque souhaite ouvrir un compte auprès d’une banque privée.
D. Un nouveau client demande à créer un bureau de change en utilisant la banque comme correspondant.

adnan_shaikat
11 months, 3 weeks ago

C. A wealthy individual from a high-risk country wants to open an account with a private bank.

Sheila
10 months, 2 weeks ago

A wealthy individual from a high-risk country wants to open an account with a private bank.

sunnyvarughese
9 months, 2 weeks ago

wealthy individual from a high-risk country wants to open an account with a private bank.

sunnyvarughese
9 months, 2 weeks ago

Thanks for submitting , your comment will be approved soon by our moderators

sunnyvarughese
9 months, 2 weeks ago

Thanks for submitting , your comment will be approved soon by our moderators

sunnyvarughese
9 months, 2 weeks ago

wealthy individual from a high-risk country wants to open an account with a private bank.

dion_loef
6 months, 2 weeks ago

C. A wealthy individual from a high-risk country wants to open an account with a private bank.

linhnguyen1811
4 months, 4 weeks ago

Certified Anti-Money Laundering Specialist Version 6.48, pag 216: People residing in and/or having funds from high-risk countries, including countries “identified by credible sources as having inadequate anti-money laundering standards or representing high-risk for crime and corruption.”

ndhami
2 months, 2 weeks ago

A wealthy individual from a high-risk country wants to open an account with a private bank.


Question 11

Which assessments are involved in the processes of mutual evaluation and follow-up by the FATF?

  • A. Risk assessments and technical standards assessments
  • B. Technical compliance assessments and effectiveness assessment Most Votes
  • C. Sanction risk assessments and the country's National Risk Assessment
  • D. Country audit assessments and transaction monitoring assessments
Mark Question:
Answer:

B


Explanation:
Reference:
https://www.fatf-gafi.org/publications/mutualevaluations/more/more-about-mutual-evaluations.html?hf=10&b=0&s=desc(fatf_releasedate)

User Votes:
A 31 votes
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B 82 votes
50%
C 45 votes
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D 17 votes
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A
B
C
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tinaguha
1 year, 2 months ago

Technical compliance assessments and effectiveness assessment

neginarotam
1 year ago

B. Technical compliance assessments and effectiveness assessment

laneshapenrose
1 year ago

C is my answer

AnaA.
1 year ago

C. Évaluations des risques de sanctions et évaluation nationale des risques du pays

adnan_shaikat
11 months, 3 weeks ago

C. Sanction risk assessments and the country's National Risk Assessment

ananthb_1976
8 months, 2 weeks ago

Mutual Evaluation is having 2 components and they are assessed based on Technical Compliance Assessments and Effectiveness Assessments. Hence the answer is B

dion_loef
6 months, 2 weeks ago

B. Technical compliance assessments and effectiveness assessment

ndhami
2 months, 2 weeks ago

Sanction risk assessments and the country's National Risk Assessment


Question 12

According to the Basel Committee on Banking Supervision, banks should deal with high-risk
customers by:

  • A. maintaining segregated records to enable easy inspection by law enforcement in case of a subpoena.
  • B. assigning those customers to specified private bankers for better monitoring of their offshore transactions.
  • C. performing enhanced due diligence including enhanced ongoing monitoring of the account activity. Most Votes
  • D. seeking approval from the board of directors before establishing the relationship.
Mark Question:
Answer:

C


Explanation:
Reference:
https://www.bis.org/bcbs/basel3.htm

User Votes:
A 7 votes
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B 7 votes
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C 135 votes
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D 17 votes
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tinaguha
1 year, 2 months ago

performing enhanced due diligence including enhanced ongoing monitoring of the account activity.

neginarotam
1 year ago

C. performing enhanced due diligence including enhanced ongoing monitoring of the account activity.

laneshapenrose
1 year ago

C is my answer

AnaA.
1 year ago

C. effectuer une diligence raisonnable renforcée, y compris une surveillance continue renforcée de l'activité du compte.

adnan_shaikat
11 months, 3 weeks ago

C. performing enhanced due diligence including enhanced ongoing monitoring of the account activity.

ananthb_1976
8 months, 2 weeks ago

My Answer is C only. Because High Risk Customers need EDD and we need to monitor their account activity

dion_loef
6 months, 2 weeks ago

C. performing enhanced due diligence including enhanced ongoing monitoring of the account activity.

linhnguyen1811
4 months, 4 weeks ago

of cource C is the answer

ndhami
2 months, 2 weeks ago

performing enhanced due diligence including enhanced ongoing monitoring of the account activity.


Question 13

Which situations would require a financial institution (FI) to update its ML/TF risk assessment?
(Choose two.)

  • A. When new products, services or customer types are introduced Most Votes
  • B. When new board members are elected
  • C. When the AML compliance team hires new employees
  • D. When the institution faces a merger or acquisition Most Votes
  • E. When opening a sales point in a new location in the same city
Mark Question:
Answer:

D, E


Explanation:
Reference:
https://www.fatf-
gafi.org/media/fatf/content/images/National_ML_TF_Risk_Assessment.pdf

User Votes:
A 139 votes
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B 10 votes
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C 8 votes
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D 131 votes
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E 30 votes
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tinaguha
1 year, 2 months ago

When new products, services or customer types are introduced, and when the institution faces a merger or acquisition

neginarotam
1 year ago

A. When new products, services or customer types are introduced
D. When the institution faces a merger or acquisition

laneshapenrose
1 year ago

A and D are my answers

AnaA.
1 year ago

A. Lorsque de nouveaux produits, services ou types de clients sont introduits

AnaA.
1 year ago

A. Lorsque de nouveaux produits, services ou types de clients sont introduits.
D. Lorsque l'établissement est confronté à une fusion ou une acquisition.

adnan_shaikat
11 months, 3 weeks ago

A and D are my answers

ananthb_1976
8 months, 2 weeks ago

Answer is A & D

dion_loef
6 months, 2 weeks ago

A. When new products, services or customer types are introduced
D. When the institution faces a merger or acquisition

linhnguyen1811
4 months, 4 weeks ago

A and D is the answers

Preethi
3 months, 1 week ago

A and D is correct

ndhami
2 months, 2 weeks ago

When the institution faces a merger or acquisition


Question 14

Based on studies executed by the Organization for Economic Cooperation and Development (OECD),
which occupations are particularly vulnerable to the use of false identities and identity theft?

  • A. Government officers Most Votes
  • B. Sea port officers
  • C. Lawyers
  • D. Laborers
Mark Question:
Answer:

A


User Votes:
A 71 votes
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B 20 votes
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C 52 votes
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D 36 votes
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tinaguha
1 year, 2 months ago

Government officers

neginarotam
1 year ago

D. Laborers

laneshapenrose
1 year ago

D is my answer

AnaA.
1 year ago

D. Ouvriers

adnan_shaikat
11 months, 2 weeks ago

C. Lawyers

dion_loef
6 months, 2 weeks ago

A. Government officers

ndhami
2 months, 2 weeks ago

D. Laborers


Question 15

Which methods are typically used to launder money using insurance companies? (Choose two.)

  • A. The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties. Most Votes
  • B. The policy holder enters a sibling as a beneficiary of the insurance policy rather than themselves.
  • C. The policy holder purchases a bond and redeems it at a discount prior to its full term. Most Votes
  • D. The policy holder uses an offshore company to pay the insurance installments.
  • E. The policy holder is strongly interested in how many costs are incurred when taking out an insurance policy.
Mark Question:
Answer:

A, D


User Votes:
A 131 votes
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B 11 votes
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C 77 votes
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D 74 votes
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E 20 votes
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tinaguha
1 year, 2 months ago

The policy holder purchases a bond and redeems it at a discount prior to its full term. The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties.

neginarotam
1 year ago

A. The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties.
D. The policy holder uses an offshore company to pay the insurance installments.

laneshapenrose
1 year ago

D is my answer

AnaA.
1 year ago

A. Le preneur d’assurance paye en trop la police et retire les fonds de la police malgré le paiement de pénalités de retrait anticipé.
C. Le preneur d'assurance achète une obligation et la rachète à rabais avant son échéance complète.

ananthb_1976
8 months, 2 weeks ago

It is A & D

dion_loef
6 months, 2 weeks ago

A. The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties.
C. The policy holder purchases a bond and redeems it at a discount prior to its full term.

ndhami
2 months, 2 weeks ago

The policy holder overpays the policy and moves the funds out of the policy despite paying early withdrawal penalties.

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