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ACAMS Final Actual Verified Exam Version 2 Newest
With Complete Questions And Correct Detailed
Answers|| Newest Exam!!!
Which of the following statements is true?
A) Credit cards are not likely to be used in the layering
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 an audit
trail.
C) A launderer can launder money by prepaying his or her
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 or her credit card bill for goods
purchased, which is an example of placement. - Answer-C
Why is a payable through account vulnerable to money
laundering?
A) It can be very difficult to conduct due diligence on the
foreign institution customers who are ultimately using
these accounts.
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B) These are concentration accounts located in a domestic
branch of a foreign bank.
C) These are nested correspondent accounts at a foreign
shell bank with customers with whom the domestic bank
did not exercise due diligence.
D) These are master escrow accounts on which a
domestic bank generally does not conduct periodic
verification. - Answer-A
A new products manager wants to propose a product
involving prepaid cards but the AML officer sees some
problems. What would be three risks that the AML officer
might raise?
A) The new product would enable customers to move
funds around the world quickly.
B) The product can be reloaded and used anonymously.
C) There might be an influx of new customers who have
not been vetted seeking to use the product.
D) The cards could be used as a substitute for bulk-cash
smuggling. - Answer-A, B, and D
Money laundering and terrorism financing can have
potentially devastating economic, security, and social
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consequences. While these crimes can occur in any
country, they have particularly significant economic and
social consequences for:
A) Developing countries, emerging markets, and countries
with fragile financial systems.
B) First world countries, including politically mature
jurisdictions such as Western Europe and USA.
C) Countries listed on the FATF PEP list. - Answer-A
Typically, havens for money laundering and terrorist
financing have:
A. Limited number of predicate crimes for money
laundering.
B. Limited types of institutions and persons covered by
money laundering laws and regulations.
C. Little to no enforcement of the laws, weak penalties, or
provisions that make it difficult to confiscate or freeze
assets related to money laundering.
D. All of the above - Answer-D
When money laundering is prevalent, criminals often try to
bribe government officials, lawyers, and employees of
ACAMS Final Actual Verified Exam Version 2 Newest
With Complete Questions And Correct Detailed
Answers|| Newest Exam!!!
Which of the following statements is true?
A) Credit cards are not likely to be used in the layering
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 an audit
trail.
C) A launderer can launder money by prepaying his or her
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 or her credit card bill for goods
purchased, which is an example of placement. - Answer-C
Why is a payable through account vulnerable to money
laundering?
A) It can be very difficult to conduct due diligence on the
foreign institution customers who are ultimately using
these accounts.
,2|Page
B) These are concentration accounts located in a domestic
branch of a foreign bank.
C) These are nested correspondent accounts at a foreign
shell bank with customers with whom the domestic bank
did not exercise due diligence.
D) These are master escrow accounts on which a
domestic bank generally does not conduct periodic
verification. - Answer-A
A new products manager wants to propose a product
involving prepaid cards but the AML officer sees some
problems. What would be three risks that the AML officer
might raise?
A) The new product would enable customers to move
funds around the world quickly.
B) The product can be reloaded and used anonymously.
C) There might be an influx of new customers who have
not been vetted seeking to use the product.
D) The cards could be used as a substitute for bulk-cash
smuggling. - Answer-A, B, and D
Money laundering and terrorism financing can have
potentially devastating economic, security, and social
, 3|Page
consequences. While these crimes can occur in any
country, they have particularly significant economic and
social consequences for:
A) Developing countries, emerging markets, and countries
with fragile financial systems.
B) First world countries, including politically mature
jurisdictions such as Western Europe and USA.
C) Countries listed on the FATF PEP list. - Answer-A
Typically, havens for money laundering and terrorist
financing have:
A. Limited number of predicate crimes for money
laundering.
B. Limited types of institutions and persons covered by
money laundering laws and regulations.
C. Little to no enforcement of the laws, weak penalties, or
provisions that make it difficult to confiscate or freeze
assets related to money laundering.
D. All of the above - Answer-D
When money laundering is prevalent, criminals often try to
bribe government officials, lawyers, and employees of
