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ACAMS Practice Test 2, NR 603 Week 7 ||Verified
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Which two of the following 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 -
Answer-A, C
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
,2|Page
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 revised 40 Recommendations of 2003, the FATF
issued for the second time a list of designated categories
of offense that asserts crimes for a money laundering
prosecution.
D. Ecash 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. -
Answer-A
What is the definition of a predicate offense?
A. Lawful or unlawful activity that involves willful blindness
and, if there is an international element to the crime, can
lead to a suspicious activity report
B. Unlawful activity whose proceeds, when concealed, can
give rise to prosecution for the crime of money laundering
C. An interface which is the underlying segment of a
suspicious transaction monitoring system
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D. A specified unlawful activity that is committed through
concentration accounts deceiving customers that are not
directly related to the account - Answer-B
What are two definitions of willful blindness?
A. Deliberate avoidance of knowledge of facts
B. Refusing to put glasses on while driving
C. Purposeful indifference
D. Not being able to see - Answer-A,C
Which one of the following statements is true?
A. Credit cards are not likely to be used in the integration
phase of money laundering because of restrictions in cash
payments
B. Credit cards are effective instruments for laundering
money because the transactions do not create a paper
trail
C. A launderer can launder money by prepaying his credit
card using funds that are already in the banking system,
creating a credit balance on his 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 - Answer-C
, 4|Page
Why is a Payable Through Account vulnerable to money
laundering?
A. These are master correspondent accounts established
at a domestic bank by a foreign bank that allow the
customers of the foreign bank to do a wide range of
transactions
B. These are correspondent accounts located in a
noncooperative country or territory
C. These are nested correspondent accounts at a foreign
shell bank with customers for whom the domestic bank did
not exercise due diligence
D. These are master escrow accounts for which a
domestic bank generally does not conduct periodic
verification - Answer-A
Which one of the following statements is true?
Correspondent banking is MOST vulnerable to money
laundering when the correspondent account is:
A. Maintained for foreign financial institutions that are
banks
B. Not used to provide services directly to third parties
ACAMS Practice Test 2, NR 603 Week 7 ||Verified
Exam!!|| Most Recent Exam Actual Complete Real
Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ | Guaranteed Success!!
Newest Exam!!!
Which two of the following 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 -
Answer-A, C
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
,2|Page
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 revised 40 Recommendations of 2003, the FATF
issued for the second time a list of designated categories
of offense that asserts crimes for a money laundering
prosecution.
D. Ecash 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. -
Answer-A
What is the definition of a predicate offense?
A. Lawful or unlawful activity that involves willful blindness
and, if there is an international element to the crime, can
lead to a suspicious activity report
B. Unlawful activity whose proceeds, when concealed, can
give rise to prosecution for the crime of money laundering
C. An interface which is the underlying segment of a
suspicious transaction monitoring system
,3|Page
D. A specified unlawful activity that is committed through
concentration accounts deceiving customers that are not
directly related to the account - Answer-B
What are two definitions of willful blindness?
A. Deliberate avoidance of knowledge of facts
B. Refusing to put glasses on while driving
C. Purposeful indifference
D. Not being able to see - Answer-A,C
Which one of the following statements is true?
A. Credit cards are not likely to be used in the integration
phase of money laundering because of restrictions in cash
payments
B. Credit cards are effective instruments for laundering
money because the transactions do not create a paper
trail
C. A launderer can launder money by prepaying his credit
card using funds that are already in the banking system,
creating a credit balance on his 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 - Answer-C
, 4|Page
Why is a Payable Through Account vulnerable to money
laundering?
A. These are master correspondent accounts established
at a domestic bank by a foreign bank that allow the
customers of the foreign bank to do a wide range of
transactions
B. These are correspondent accounts located in a
noncooperative country or territory
C. These are nested correspondent accounts at a foreign
shell bank with customers for whom the domestic bank did
not exercise due diligence
D. These are master escrow accounts for which a
domestic bank generally does not conduct periodic
verification - Answer-A
Which one of the following statements is true?
Correspondent banking is MOST vulnerable to money
laundering when the correspondent account is:
A. Maintained for foreign financial institutions that are
banks
B. Not used to provide services directly to third parties
