CFT FINAL 2026 CERTIFICATION EVALUATION
EXAMS COMPLETE QUESTIONS AND
ANSWERS
◉ What categories of business did FATF include in their 2003
revision?
Answer: -real estate
-precious metal dealer
-accountant
-lawyer
-accountant
-trust & service providers
◉ What are the high level topics of Group 2/B of R40?
Answer: ML & Confiscation
-ML Offenses
-confiscation measures
◉ What are the high level topics of Group 3/C of R40?
Answer: TF & Proliferation
-TF offenses
,-Targeted sanctions TF & proliferation
-NPO
◉ What are the high level topics of Group 4/D of R40?
Answer: FI & NBFI Preventative Measures
-Secrecy laws
-CDD & record keeping
-Add'l measure specific cust/activity
-Report suspicious transactions
-Designated non-financial businesses & professions (DNBP)
◉ What are the high level topics of Group 5/E of R40?
Answer: Transparency Beneficial Ownership & Legal Persons
-transparency beneficial ownership of legal persons
-transparency beneficial ownership of legal arrangements
◉ What are the high level topics of Group 6/F of R40?
Answer: Competent Authorities
-Regulation & Supervision
-Operational & LE
-General Requirements
-Sanctions
,◉ What are the high level topics of Group 7/G of R40?
Answer: International Cooperation
-International instruments
-mutual legal assistance
-freezing & confiscating
-extradition
-other forms international cooperation
◉ What is a predicate crime?
Answer: Crimes offenders attempt to conceal thru financial
subterfuge that should constitute precursors offenses
◉ What is willful blindness?
Answer: The deliberate avoidance of knowledge of the facts.
◉ Per FATF financial organizations should conduct CDD when they
establish a business relationship and when they carry out
transactions above what threshold?
Answer: 15,000 (€/$)
◉ Per FATF when should a financial organization conduct CDD?
, Answer: -when establish business relationship
-trans above 15,000 ($/€)
-certain wire transfers per R16
-suspicion ML/TF
-doubts adequacy of Cust ID
◉ Per FATF a country may adopt a de minimis threshold for cross-
border wide transfers in which less stringent requirements apply.
They may be no higher than what amount?
Answer: 1,000 ($/€)
◉ For wire transfers below the de minimis amount of 1,000 ($/€),
what information must a financial organization obtain/include?
Answer: -names of originator & beneficiaries
-account number for both
-or a unique transaction reference #
◉ Per FATF financial organizations using a RBA must do what?
Answer: -ID customer & verify w/ independent source (prohibit
fictitious names)
-verify beneficial owner
-conduct ongoing DD
-maintain records
EXAMS COMPLETE QUESTIONS AND
ANSWERS
◉ What categories of business did FATF include in their 2003
revision?
Answer: -real estate
-precious metal dealer
-accountant
-lawyer
-accountant
-trust & service providers
◉ What are the high level topics of Group 2/B of R40?
Answer: ML & Confiscation
-ML Offenses
-confiscation measures
◉ What are the high level topics of Group 3/C of R40?
Answer: TF & Proliferation
-TF offenses
,-Targeted sanctions TF & proliferation
-NPO
◉ What are the high level topics of Group 4/D of R40?
Answer: FI & NBFI Preventative Measures
-Secrecy laws
-CDD & record keeping
-Add'l measure specific cust/activity
-Report suspicious transactions
-Designated non-financial businesses & professions (DNBP)
◉ What are the high level topics of Group 5/E of R40?
Answer: Transparency Beneficial Ownership & Legal Persons
-transparency beneficial ownership of legal persons
-transparency beneficial ownership of legal arrangements
◉ What are the high level topics of Group 6/F of R40?
Answer: Competent Authorities
-Regulation & Supervision
-Operational & LE
-General Requirements
-Sanctions
,◉ What are the high level topics of Group 7/G of R40?
Answer: International Cooperation
-International instruments
-mutual legal assistance
-freezing & confiscating
-extradition
-other forms international cooperation
◉ What is a predicate crime?
Answer: Crimes offenders attempt to conceal thru financial
subterfuge that should constitute precursors offenses
◉ What is willful blindness?
Answer: The deliberate avoidance of knowledge of the facts.
◉ Per FATF financial organizations should conduct CDD when they
establish a business relationship and when they carry out
transactions above what threshold?
Answer: 15,000 (€/$)
◉ Per FATF when should a financial organization conduct CDD?
, Answer: -when establish business relationship
-trans above 15,000 ($/€)
-certain wire transfers per R16
-suspicion ML/TF
-doubts adequacy of Cust ID
◉ Per FATF a country may adopt a de minimis threshold for cross-
border wide transfers in which less stringent requirements apply.
They may be no higher than what amount?
Answer: 1,000 ($/€)
◉ For wire transfers below the de minimis amount of 1,000 ($/€),
what information must a financial organization obtain/include?
Answer: -names of originator & beneficiaries
-account number for both
-or a unique transaction reference #
◉ Per FATF financial organizations using a RBA must do what?
Answer: -ID customer & verify w/ independent source (prohibit
fictitious names)
-verify beneficial owner
-conduct ongoing DD
-maintain records
