ACAMS Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Which of the following statements is true?
Answer:
,ACAMS Questions and Answers with Verified Solutions | Latest 2026
Update
Q: A. Credit cards are not likely to be used in the layering phrase of money
laundering because of
Answer:
restrictions in cash payments
B. Credit cards are effective instruments for laundering money because the
transactions do not
create an audit trail
C. A laundered can launder money by prepaying his credit card using funds that are
already in
the banking system, creating a credit balance on the account, and requesting a credit
refund
D. A launderer can use illicit funds that are already in the banking system to pay his
credit card
bill for goods purchased, which is an example of placement C. A laundered can
launder
money by prepaying his credit card using funds that are already in the banking
system, creating
a credit balance on the account, and requesting a credit refund
,ACAMS Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Why is a payable through account (PTA) vulnerable to money laundering?
Answer:
Q: A. It can be very difficult to conduct due diligence on the foreign institution
customers who are
Answer:
ultimately using these accounts
B. These are concentration accounts located in a domestic branch of a foreign bank
C. These are nested correspondent accounts located in a domestic branch of a foreign
bank
D. These are master escrow accounts on which a domestic bank generally does not
conduct
periodic verification A. It can be very difficult to conduct due diligence on the
foreign
institution customers who are ultimately using these accounts
, ACAMS Questions and Answers with Verified Solutions | Latest 2026
Update
Q: What is the reasoning behind implementing a "risk based money laundering
approach"?
Answer:
Q: A. It will keep the regulators focused on money laundering controls in sectors
beyond banks
Answer:
B. Institutions can best use their limited resources to focus on matters where the
money
laundering risks are highest
.C. A quantitative approach will generate better results than a qualitative approach
Q: D. It allows the institution to focus on selling products that have a better return
on investment
Answer:
B. Institutions can best use their limited resources to focus on matters where the
money
laundering risks are highest
Update
Q: Which of the following statements is true?
Answer:
,ACAMS Questions and Answers with Verified Solutions | Latest 2026
Update
Q: A. Credit cards are not likely to be used in the layering phrase of money
laundering because of
Answer:
restrictions in cash payments
B. Credit cards are effective instruments for laundering money because the
transactions do not
create an audit trail
C. A laundered can launder money by prepaying his credit card using funds that are
already in
the banking system, creating a credit balance on the account, and requesting a credit
refund
D. A launderer can use illicit funds that are already in the banking system to pay his
credit card
bill for goods purchased, which is an example of placement C. A laundered can
launder
money by prepaying his credit card using funds that are already in the banking
system, creating
a credit balance on the account, and requesting a credit refund
,ACAMS Questions and Answers with Verified Solutions | Latest 2026
Update
Q: Why is a payable through account (PTA) vulnerable to money laundering?
Answer:
Q: A. It can be very difficult to conduct due diligence on the foreign institution
customers who are
Answer:
ultimately using these accounts
B. These are concentration accounts located in a domestic branch of a foreign bank
C. These are nested correspondent accounts located in a domestic branch of a foreign
bank
D. These are master escrow accounts on which a domestic bank generally does not
conduct
periodic verification A. It can be very difficult to conduct due diligence on the
foreign
institution customers who are ultimately using these accounts
, ACAMS Questions and Answers with Verified Solutions | Latest 2026
Update
Q: What is the reasoning behind implementing a "risk based money laundering
approach"?
Answer:
Q: A. It will keep the regulators focused on money laundering controls in sectors
beyond banks
Answer:
B. Institutions can best use their limited resources to focus on matters where the
money
laundering risks are highest
.C. A quantitative approach will generate better results than a qualitative approach
Q: D. It allows the institution to focus on selling products that have a better return
on investment
Answer:
B. Institutions can best use their limited resources to focus on matters where the
money
laundering risks are highest
