ACAMS Final Practice Exam Version 1
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1. What is the Right of Reciprocity in the field of international cooperation against money
laundering?
A. The legal principle that financial institutions that have referred customers to other financial
institutions can share information about these customers with the other institutions.
B. A rule of the Basel Committee allowing properly regulated financial institutes of another
member state of the Basel Committee to do business without additional supervision to the
degree that the other state grants the same right.
C. The right of each FATF member country to delegate prosecution of a case of money
laundering to another member that is already investigating the same case.
D. A rule in the law of a country allowing its authorities to cooperate with authorities of other
countries to the degree that their law allows them to do the same.. - CORRECTANSWER D. A
rule in the law of a country allowing its authorities to cooperate with authorities of other
countries to the degree that their law allows them to do the same.
,1. Which of the following is the most common method of laundering money through a legal
money services business?
A. Purchasing structured money instruments.
B. Smuggling bulk-cash.
C. Transferring funds through Payable Through Accounts (PTAs).
D. Exchanging Colombian pesos on the black market. - CORRECTANSWER A. Purchasing
structured money instruments.
1. In general, the three phases of money laundering are said to be: Placement:
A. Structuring and manipulation.
B. Layering and integration.
C. Layering and smurfing.
D. Integration and infiltration. - CORRECTANSWER B. Layering and integration.
1. Which statement is true?
A. Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure
increasing loans in excess of the actual value of the company or property and then run with the
money, leaving the lender to foreclose and take a substantial loss.
,B. Cuckoo smurfing is a significant money laundering technique identified by the Financial
Action Task Force, where a form of structuring uses nested accounts with shell banks in secrecy
havens.
C. In its 40 Recommendations, the FATF issued a list of "designated categories of offense" that
asserts crimes for a money laundering prosecution.
D. E-cash is not attractive to the money launderer because it cannot be completely anonymous
and does not allow for large amounts to be "transported" quickly and easily. - CORRECTANSWER
A. Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure
increasing loans in excess of the actual value of the company or property and then run with the
money, leaving the lender to foreclose and take a substantial loss.
1. Which three of the following is an indication of possible money laundering in an insurance
industry scenario?
A. Insurance products sold through intermediaries, agents or brokers.
B. Single-premium insurance bonds, redeemed at a discount.
C. Policyholders who are unconcerned about penalties for early cancellation.
D. Policyholders who redeem the policy within the "free look" period. - CORRECTANSWER B.
Single-premium insurance bonds, redeemed at a discount.
C. Policyholders who are unconcerned about penalties for early cancellation.
D. Policyholders who redeem the policy within the "free look" period.
, 1. Which two activities are typically associated with the black market peso exchange (BMPE)
money laundering system?
A. Converting illicit drug proceeds from dollars or Euros to Colombian pesos.
B. Converting illicit drug proceeds from Colombian pesos to dollars or Euros.
C. Facilitating purchases by Colombian importers of goods manufactured in the United States or
Europe through peso brokers.
D. Facilitating purchases by European or U.S. importers of goods manufactured in Colombia
through peso brokers. - CORRECTANSWER D. A rule in the law of a country allowing its
authorities to cooperate with authorities of other countries to the degree that their law allows
them to do the same.
1. The greatest risk for money laundering is for casinos that
A. Provide their customers with a wide array of gambling services.
B. Operate in a non-Egmont member country.
C. Allow customers with credit balances to withdraw funds by check in another jurisdiction.
D. Only send suspicious transaction reports to the financial intelligence unit of the country it
operates in. - CORRECTANSWER C. Allow customers with credit balances to withdraw funds by
check in another jurisdiction.
Newest 2026 || With Questions And
Correct Detailed Answers| Brand New
Version || Already Graded A+ |!!!!
1. What is the Right of Reciprocity in the field of international cooperation against money
laundering?
A. The legal principle that financial institutions that have referred customers to other financial
institutions can share information about these customers with the other institutions.
B. A rule of the Basel Committee allowing properly regulated financial institutes of another
member state of the Basel Committee to do business without additional supervision to the
degree that the other state grants the same right.
C. The right of each FATF member country to delegate prosecution of a case of money
laundering to another member that is already investigating the same case.
D. A rule in the law of a country allowing its authorities to cooperate with authorities of other
countries to the degree that their law allows them to do the same.. - CORRECTANSWER D. A
rule in the law of a country allowing its authorities to cooperate with authorities of other
countries to the degree that their law allows them to do the same.
,1. Which of the following is the most common method of laundering money through a legal
money services business?
A. Purchasing structured money instruments.
B. Smuggling bulk-cash.
C. Transferring funds through Payable Through Accounts (PTAs).
D. Exchanging Colombian pesos on the black market. - CORRECTANSWER A. Purchasing
structured money instruments.
1. In general, the three phases of money laundering are said to be: Placement:
A. Structuring and manipulation.
B. Layering and integration.
C. Layering and smurfing.
D. Integration and infiltration. - CORRECTANSWER B. Layering and integration.
1. Which statement is true?
A. Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure
increasing loans in excess of the actual value of the company or property and then run with the
money, leaving the lender to foreclose and take a substantial loss.
,B. Cuckoo smurfing is a significant money laundering technique identified by the Financial
Action Task Force, where a form of structuring uses nested accounts with shell banks in secrecy
havens.
C. In its 40 Recommendations, the FATF issued a list of "designated categories of offense" that
asserts crimes for a money laundering prosecution.
D. E-cash is not attractive to the money launderer because it cannot be completely anonymous
and does not allow for large amounts to be "transported" quickly and easily. - CORRECTANSWER
A. Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure
increasing loans in excess of the actual value of the company or property and then run with the
money, leaving the lender to foreclose and take a substantial loss.
1. Which three of the following is an indication of possible money laundering in an insurance
industry scenario?
A. Insurance products sold through intermediaries, agents or brokers.
B. Single-premium insurance bonds, redeemed at a discount.
C. Policyholders who are unconcerned about penalties for early cancellation.
D. Policyholders who redeem the policy within the "free look" period. - CORRECTANSWER B.
Single-premium insurance bonds, redeemed at a discount.
C. Policyholders who are unconcerned about penalties for early cancellation.
D. Policyholders who redeem the policy within the "free look" period.
, 1. Which two activities are typically associated with the black market peso exchange (BMPE)
money laundering system?
A. Converting illicit drug proceeds from dollars or Euros to Colombian pesos.
B. Converting illicit drug proceeds from Colombian pesos to dollars or Euros.
C. Facilitating purchases by Colombian importers of goods manufactured in the United States or
Europe through peso brokers.
D. Facilitating purchases by European or U.S. importers of goods manufactured in Colombia
through peso brokers. - CORRECTANSWER D. A rule in the law of a country allowing its
authorities to cooperate with authorities of other countries to the degree that their law allows
them to do the same.
1. The greatest risk for money laundering is for casinos that
A. Provide their customers with a wide array of gambling services.
B. Operate in a non-Egmont member country.
C. Allow customers with credit balances to withdraw funds by check in another jurisdiction.
D. Only send suspicious transaction reports to the financial intelligence unit of the country it
operates in. - CORRECTANSWER C. Allow customers with credit balances to withdraw funds by
check in another jurisdiction.
