1|Page
ACAMS Final Actual Verified Exam Version 1 Newest
With Complete Questions And Correct Detailed
Answers||Newest Exam!!!
8. Which statement is true regarding the risk of politically
exposed persons (PEPs)?
A. PEPs provide access to third parties on whom the
financial institution has not conducted sufficient due
diligence.
B. PEPs have significantly greater exposure to the
politically corrupt funds, including accepting bribes or
misappropriating government funds.
C. PEPs are foreign customers who inherently present
additional risk as they are engaged in crossborder
transactions.
D. PEPs generally do not pose enhanced risks to an
institution due to their political standing; rather, PEPs
increase the prestige of an institution. - Answer-B. PEPs
have significantly greater exposure to the politically corrupt
funds, including accepting bribes or misappropriating
government funds.
9. In 2014, the Wolfsberg Group published its Anti-Money
Laundering Principles for Correspondent Banking. Which
,2|Page
three of the following elements are recommended to be
included in the due diligence of a correspondent banking
client?
A. The geographic risk
B. The ownership and management structure
C. The résumé of the compliance officer
D. The customer base - Answer-A. The geographic risk
B. The ownership and management structure
D. The customer base
10. A new customer approaches a bank to open a
commercial account. The customer provides an address
for the account located across the city from the branch.
When asked by the account representative if the customer
requires any additional banking services, the customer
responds that she is also interested in opening a personal
investment account. The account representative refers the
customer to the broker-dealer. The customer tells the firm
representative she has never had a brokerage account
before and has a few questions about how an investment
account works. The customer asks how deposits can be
made into her account, if there are any reporting
requirements, and how to go about moving balances out
of the account using wire transfers. No questions are
,3|Page
asked about fees associated with these transactions.
Which three items would be considered suspicious?
A. The customer asks many questions about the
brokerage accoun - Answer-A. The customer asks many
questions about the brokerage account but none of them
is related to investing.
C. The address of the account holder and the branch
where the customer came to open the account are not
close to each other.
D. The customer appears unconcerned about the fees.
11. Trade-based money laundering requires the ability to
A. over- or under-invoice the goods.
B. sell the imported goods for as little as possible.
C. use goods that do not need to be declared.
D. avoid the use of high-value assets such as luxury cars
or boats. - Answer-A. over- or under-invoice the goods.
12. Which of the following statements is true?
Correspondent banking is most vulnerable to money
laundering when the correspondent account is
, 4|Page
A. maintained for foreign financial institutions that are
banks.
B. not used to provide services directly to third parties.
C. maintained for a foreign bank that does not have a
physical presence in any country.
D. maintained for a foreign private bank that is publicly
traded and is a qualified intermediary. - Answer-C.
maintained for a foreign bank that does not have a
physical presence in any country.
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 the black market -
Answer-A. Exchanging currency and remitting money
2. In general, the three phases of money laundering are
said to be: placement and
A. structuring and manipulation.
B. layering and integration.
ACAMS Final Actual Verified Exam Version 1 Newest
With Complete Questions And Correct Detailed
Answers||Newest Exam!!!
8. Which statement is true regarding the risk of politically
exposed persons (PEPs)?
A. PEPs provide access to third parties on whom the
financial institution has not conducted sufficient due
diligence.
B. PEPs have significantly greater exposure to the
politically corrupt funds, including accepting bribes or
misappropriating government funds.
C. PEPs are foreign customers who inherently present
additional risk as they are engaged in crossborder
transactions.
D. PEPs generally do not pose enhanced risks to an
institution due to their political standing; rather, PEPs
increase the prestige of an institution. - Answer-B. PEPs
have significantly greater exposure to the politically corrupt
funds, including accepting bribes or misappropriating
government funds.
9. In 2014, the Wolfsberg Group published its Anti-Money
Laundering Principles for Correspondent Banking. Which
,2|Page
three of the following elements are recommended to be
included in the due diligence of a correspondent banking
client?
A. The geographic risk
B. The ownership and management structure
C. The résumé of the compliance officer
D. The customer base - Answer-A. The geographic risk
B. The ownership and management structure
D. The customer base
10. A new customer approaches a bank to open a
commercial account. The customer provides an address
for the account located across the city from the branch.
When asked by the account representative if the customer
requires any additional banking services, the customer
responds that she is also interested in opening a personal
investment account. The account representative refers the
customer to the broker-dealer. The customer tells the firm
representative she has never had a brokerage account
before and has a few questions about how an investment
account works. The customer asks how deposits can be
made into her account, if there are any reporting
requirements, and how to go about moving balances out
of the account using wire transfers. No questions are
,3|Page
asked about fees associated with these transactions.
Which three items would be considered suspicious?
A. The customer asks many questions about the
brokerage accoun - Answer-A. The customer asks many
questions about the brokerage account but none of them
is related to investing.
C. The address of the account holder and the branch
where the customer came to open the account are not
close to each other.
D. The customer appears unconcerned about the fees.
11. Trade-based money laundering requires the ability to
A. over- or under-invoice the goods.
B. sell the imported goods for as little as possible.
C. use goods that do not need to be declared.
D. avoid the use of high-value assets such as luxury cars
or boats. - Answer-A. over- or under-invoice the goods.
12. Which of the following statements is true?
Correspondent banking is most vulnerable to money
laundering when the correspondent account is
, 4|Page
A. maintained for foreign financial institutions that are
banks.
B. not used to provide services directly to third parties.
C. maintained for a foreign bank that does not have a
physical presence in any country.
D. maintained for a foreign private bank that is publicly
traded and is a qualified intermediary. - Answer-C.
maintained for a foreign bank that does not have a
physical presence in any country.
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 the black market -
Answer-A. Exchanging currency and remitting money
2. In general, the three phases of money laundering are
said to be: placement and
A. structuring and manipulation.
B. layering and integration.
