Verified Answers for 2026 |2027
Quiz_________________?
A commission regotorie would be used in which gateway to obtain information from
another country? -
Answer✅
An FIU request under the EGMONT principles
Quiz_________________?
A compliance officer at a small local bank reads in the newspaper that a high ranking local
public official, who is a long-standing account holder, is being investigated by the competent
authorities for accepting bribes. The compliance officer immediately checks the official's
account and new account the official opened at the bank a few weeks ago. The compliance
officer's investigation of these accounts discloses that the official's long-standing account had
no unusual activity and that the recently opened had no activity since it was opened. What
should the compliance officer do next? -
Answer✅
call the competent authorities to assess the need to file a suspicious transaction report
Quiz_________________?
1
, A compliance officer is conducting a review of the automated transaction monitoring
system. What would be most likely to result in a change in the monitoring system
parameters? -
Answer✅
The national Financial Intelligence Unit issues new risk indicators.
Quiz_________________?
A compliance officer is looking to modify procedures covering correspondent banking
relationships. Which three would be recommended under the Wolfsburg Principles on
Correspondent Banking? -
Answer✅
Prohibition on offering products or services to shell banks
Periodic risk based reviews of clients
Assessing the regulatory status and the history of the client.
Quiz_________________?
A compliance officer is looking to update an institution's private bank procedures. What
should be included as recommended by the Wolfsberg AML Principles on Private Banking? -
Answer✅
Approval of PEPs by at least one person other than the relationship manager.
Quiz_________________?
A compliance officer is looking to update an institution's private bank procedures. What
should be included as recommended by the Wolfsberg AML Principles on Private Banking? -
Answer✅
2
, approval of Politically Exposed Persons (PEPs) by at least one person other than the
relationship manager.
Quiz_________________?
A customer comes into a financial institution and deposits a large amount of cash. He has
never done that before. When asked about the deposit, he indicates he recently sold a used
car and received cash.
He does not trust forms of payment and is wary of counterfeit money orders. What should
the bank do? -
Answer✅
While the explanation appears plausible, the institution should, for a period of time, monitor
the account for cash transactions and suspicious activity.
Quiz_________________?
A customer comes into the bank and appears to be ill-at-ease waiting in the teller line.
When the customer gets to the teller, he become exceedingly nervous and asks for a large
cashier's check to be cashed and disbursed to him in $100 bills.
What should the teller do after completing the transaction? -
Answer✅
File a SAR on the customer
Quiz_________________?
A customer has held an account at a local credit institution for 10 years. The account has
received deposits twice weekly for the same amount and has never shown signs of suspect
behavior. Monitoring software indicated that in the past few months the account has
received several large deposits that were not in line with the account history. When asked,
the customer states she recently sold a piece of property, which is supported with a proof
of sale. What should the compliance officer do next? -
Answer✅
File and STR with competent authorities
3
, Quiz_________________?
A junior account manager within an international private bank in Country A was asked by
one of his valued customers, who has held an account for several years in the institution,
about depositing a large sum of cash into her account. The junior account manager informed
his customer that his bank does not accept cash. The junior account manager later reviewed
a customer activity report and noticed a number of smaller dollar wires from banks in
neighboring Country B, which has lax currency controls, that totaled about as much as the
customer intended to deposit. What should the junior account manager do? -
Answer✅
Notify the anti-money laundering specialist of his bank, but do not call the customer
Quiz_________________?
A profitable commercial customer who operates an import-export business has multiple
accounts with the same institution at branches in different locations. The customer receives
funds from a jurisdiction perceived as highly corrupt according to Transparency
International ratings. The customer makes frequent transfers among the accounts and
prefers to manage the accounts separately. What should the institution do to mitigate the
risk associated with these accounts? -
Answer✅
File a suspicious transaction report
Quiz_________________?
A prospective AML officer comes highly recommended by a bank's up-stream
correspondent institution of similar size and make-up, located in a different city in the same
country. The bank is interested in hiring the individual. What should be the next step taken
by the Board of Directors? -
Answer✅
Do a thorough background check
4
Quiz_________________?
A commission regotorie would be used in which gateway to obtain information from
another country? -
Answer✅
An FIU request under the EGMONT principles
Quiz_________________?
A compliance officer at a small local bank reads in the newspaper that a high ranking local
public official, who is a long-standing account holder, is being investigated by the competent
authorities for accepting bribes. The compliance officer immediately checks the official's
account and new account the official opened at the bank a few weeks ago. The compliance
officer's investigation of these accounts discloses that the official's long-standing account had
no unusual activity and that the recently opened had no activity since it was opened. What
should the compliance officer do next? -
Answer✅
call the competent authorities to assess the need to file a suspicious transaction report
Quiz_________________?
1
, A compliance officer is conducting a review of the automated transaction monitoring
system. What would be most likely to result in a change in the monitoring system
parameters? -
Answer✅
The national Financial Intelligence Unit issues new risk indicators.
Quiz_________________?
A compliance officer is looking to modify procedures covering correspondent banking
relationships. Which three would be recommended under the Wolfsburg Principles on
Correspondent Banking? -
Answer✅
Prohibition on offering products or services to shell banks
Periodic risk based reviews of clients
Assessing the regulatory status and the history of the client.
Quiz_________________?
A compliance officer is looking to update an institution's private bank procedures. What
should be included as recommended by the Wolfsberg AML Principles on Private Banking? -
Answer✅
Approval of PEPs by at least one person other than the relationship manager.
Quiz_________________?
A compliance officer is looking to update an institution's private bank procedures. What
should be included as recommended by the Wolfsberg AML Principles on Private Banking? -
Answer✅
2
, approval of Politically Exposed Persons (PEPs) by at least one person other than the
relationship manager.
Quiz_________________?
A customer comes into a financial institution and deposits a large amount of cash. He has
never done that before. When asked about the deposit, he indicates he recently sold a used
car and received cash.
He does not trust forms of payment and is wary of counterfeit money orders. What should
the bank do? -
Answer✅
While the explanation appears plausible, the institution should, for a period of time, monitor
the account for cash transactions and suspicious activity.
Quiz_________________?
A customer comes into the bank and appears to be ill-at-ease waiting in the teller line.
When the customer gets to the teller, he become exceedingly nervous and asks for a large
cashier's check to be cashed and disbursed to him in $100 bills.
What should the teller do after completing the transaction? -
Answer✅
File a SAR on the customer
Quiz_________________?
A customer has held an account at a local credit institution for 10 years. The account has
received deposits twice weekly for the same amount and has never shown signs of suspect
behavior. Monitoring software indicated that in the past few months the account has
received several large deposits that were not in line with the account history. When asked,
the customer states she recently sold a piece of property, which is supported with a proof
of sale. What should the compliance officer do next? -
Answer✅
File and STR with competent authorities
3
, Quiz_________________?
A junior account manager within an international private bank in Country A was asked by
one of his valued customers, who has held an account for several years in the institution,
about depositing a large sum of cash into her account. The junior account manager informed
his customer that his bank does not accept cash. The junior account manager later reviewed
a customer activity report and noticed a number of smaller dollar wires from banks in
neighboring Country B, which has lax currency controls, that totaled about as much as the
customer intended to deposit. What should the junior account manager do? -
Answer✅
Notify the anti-money laundering specialist of his bank, but do not call the customer
Quiz_________________?
A profitable commercial customer who operates an import-export business has multiple
accounts with the same institution at branches in different locations. The customer receives
funds from a jurisdiction perceived as highly corrupt according to Transparency
International ratings. The customer makes frequent transfers among the accounts and
prefers to manage the accounts separately. What should the institution do to mitigate the
risk associated with these accounts? -
Answer✅
File a suspicious transaction report
Quiz_________________?
A prospective AML officer comes highly recommended by a bank's up-stream
correspondent institution of similar size and make-up, located in a different city in the same
country. The bank is interested in hiring the individual. What should be the next step taken
by the Board of Directors? -
Answer✅
Do a thorough background check
4
