ACAMS Practice Exam (2026-2027 Newest
Version) with Latest Exam Questions and
Fully Solved Answers / Already Graded A+
1. Which of the following is the most common method of
laundering money through a legal money services business?
A. Exchanging currency and remitting money
B. Smuggling bulk cash
C. Transferring funds through payable through accounts (PTAs)
D. Exchanging Colombian pesos on the black market
A. Exchanging currency and remitting money
2. In general, the three phases of money laundering are said to be:
placement and
A. structuring and manipulation.
B. layering and integration.
C. layering and smurfing.
D. integration and infiltration.
B. layering and integration.
3. Which statement is true?
A. Systemic weaknesses in free trade zones include inadequate
AML/CFT safeguards, minimal oversight by local authorities and
weak procedures to inspect goods.
B. Cuckoo smurfing is a significant money laundering technique
identified by the Financial Action Task Force, wherein a form of
structuring uses nested accounts with shell banks in secrecy
havens.
C. In its 40 Recommendations, the FATF issued a list of designated
categories of offense that asserts crimes for a money laundering
prosecution.
D. E-cash 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.
,A. Systemic weaknesses in free trade zones include inadequate
AML/CFT safeguards, minimal oversight by local authorities and
weak procedures to inspect goods.
4. Which three of the following is an indication of possible money
laundering in an insurance industry scenario?
A. Insurance products sold through intermediaries, agents or
brokers
B. Single-premium insurance bonds, redeemed at a discount
C. Policyholders who are unconcerned about penalties for early
cancellation
D. Policyholders who redeem the policy within the free look period
B. Single-premium insurance bonds, redeemed at a discount
C. Policyholders who are unconcerned about penalties for early
cancellation
D. Policyholders who redeem the policy within the free look period
5. Which two 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
A. Converting illicit drug proceeds from dollars or euros to
Colombian pesos
C. Facilitating purchases by Colombian importers of goods
manufactured in the United States or Europe through peso brokers
6. What is the right of reciprocity in the field of international
cooperation against money laundering?
A. The legal principle that financial institutions that have referred
customers to other financial institutions can share information
about these customers with the other institutions
B. A rule of the Basel Committee allowing properly regulated
financial institutes of another member state of the Basel Committee
to do business without additional supervision to the degree that the
other state grants the same right
C. The right of each FATF member country to delegate prosecution
of a case of money laundering to another member that is already
,investigating the same case
D. A rule in the law of a country allowing its authorities to
cooperate with authorities of other countries to the degree that
their law allows them to do the same
D. A rule in the law of a country allowing its authorities to
cooperate with authorities of other countries to the degree that
their law allows them to do the same
7. The greatest risk for money laundering is for casinos that
A. provide their customers with a wide array of gambling services.
B. operate in a non-Egmont member country.
C. allow customers with credit balances to withdraw funds by
check in another jurisdiction.
D. only send suspicious transaction reports to the financial
intelligence unit of the country it operates in
C. allow customers with credit balances to withdraw funds by
check in another jurisdiction.
8. Which statement is true regarding the risk of politically exposed
persons (PEPs)?
A. PEPs provide access to third parties on whom the financial
institution has not conducted sufficient due diligence.
B. PEPs have significantly greater exposure to the politically
corrupt funds, including accepting bribes or misappropriating
government funds.
C. PEPs are foreign customers who inherently present additional
risk as they are engaged in crossborder transactions.
D. PEPs generally do not pose enhanced risks to an institution due
to their political standing; rather, PEPs increase the prestige of an
institution.
B. PEPs have significantly greater exposure to the politically
corrupt funds, including accepting bribes or misappropriating
government funds.
9. In 2014, the Wolfsberg Group published its Anti-Money
Laundering Principles for Correspondent Banking. Which three of
the following elements are recommended to be included in the due
diligence of a correspondent banking client?
A. The geographic risk
B. The ownership and management structure
C. The résumé of the compliance officer
D. The customer base
, A. The geographic risk
B. The ownership and management structure
D. The customer base
10. A new customer approaches a bank to open a commercial
account. The customer provides an address for the account located
across the city from the branch. When asked by the account
representative if the customer requires any additional banking
services, the customer responds that she is also interested in
opening a personal investment account. The account
representative refers the customer to the broker-dealer. The
customer tells the firm representative she has never had a
brokerage account before and has a few questions about how an
investment account works. The customer asks how deposits can
be made into her account, if there are any reporting requirements,
and how to go about moving balances out of the account using
wire transfers. No questions are asked about fees associated with
these transactions. Which three items would be considered
suspicious?
A. The customer asks many questions about the brokerage account
but none of them is related to investing.
B. The customer is opening a commercial account and at the same
time a personal investment account.
C. The address of the account holder and the branch where the
customer came to open the account are not close to each other.
D. The customer appears unconcerned about the fees.
A. The customer asks many questions about the brokerage account
but none of them is related to investing.
C. The address of the account holder and the branch where the
customer came to open the account are not close to each other.
D. The customer appears unconcerned about the fees.
11. Trade-based money laundering requires the ability to
A. over- or under-invoice the goods.
B. sell the imported goods for as little as possible.
C. use goods that do not need to be declared.
D. avoid the use of high-value assets such as luxury cars or boats.
A. over- or under-invoice the goods.
12. Which 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.
Version) with Latest Exam Questions and
Fully Solved Answers / Already Graded A+
1. Which of the following is the most common method of
laundering money through a legal money services business?
A. Exchanging currency and remitting money
B. Smuggling bulk cash
C. Transferring funds through payable through accounts (PTAs)
D. Exchanging Colombian pesos on the black market
A. Exchanging currency and remitting money
2. In general, the three phases of money laundering are said to be:
placement and
A. structuring and manipulation.
B. layering and integration.
C. layering and smurfing.
D. integration and infiltration.
B. layering and integration.
3. Which statement is true?
A. Systemic weaknesses in free trade zones include inadequate
AML/CFT safeguards, minimal oversight by local authorities and
weak procedures to inspect goods.
B. Cuckoo smurfing is a significant money laundering technique
identified by the Financial Action Task Force, wherein a form of
structuring uses nested accounts with shell banks in secrecy
havens.
C. In its 40 Recommendations, the FATF issued a list of designated
categories of offense that asserts crimes for a money laundering
prosecution.
D. E-cash 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.
,A. Systemic weaknesses in free trade zones include inadequate
AML/CFT safeguards, minimal oversight by local authorities and
weak procedures to inspect goods.
4. Which three of the following is an indication of possible money
laundering in an insurance industry scenario?
A. Insurance products sold through intermediaries, agents or
brokers
B. Single-premium insurance bonds, redeemed at a discount
C. Policyholders who are unconcerned about penalties for early
cancellation
D. Policyholders who redeem the policy within the free look period
B. Single-premium insurance bonds, redeemed at a discount
C. Policyholders who are unconcerned about penalties for early
cancellation
D. Policyholders who redeem the policy within the free look period
5. Which two 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
A. Converting illicit drug proceeds from dollars or euros to
Colombian pesos
C. Facilitating purchases by Colombian importers of goods
manufactured in the United States or Europe through peso brokers
6. What is the right of reciprocity in the field of international
cooperation against money laundering?
A. The legal principle that financial institutions that have referred
customers to other financial institutions can share information
about these customers with the other institutions
B. A rule of the Basel Committee allowing properly regulated
financial institutes of another member state of the Basel Committee
to do business without additional supervision to the degree that the
other state grants the same right
C. The right of each FATF member country to delegate prosecution
of a case of money laundering to another member that is already
,investigating the same case
D. A rule in the law of a country allowing its authorities to
cooperate with authorities of other countries to the degree that
their law allows them to do the same
D. A rule in the law of a country allowing its authorities to
cooperate with authorities of other countries to the degree that
their law allows them to do the same
7. The greatest risk for money laundering is for casinos that
A. provide their customers with a wide array of gambling services.
B. operate in a non-Egmont member country.
C. allow customers with credit balances to withdraw funds by
check in another jurisdiction.
D. only send suspicious transaction reports to the financial
intelligence unit of the country it operates in
C. allow customers with credit balances to withdraw funds by
check in another jurisdiction.
8. Which statement is true regarding the risk of politically exposed
persons (PEPs)?
A. PEPs provide access to third parties on whom the financial
institution has not conducted sufficient due diligence.
B. PEPs have significantly greater exposure to the politically
corrupt funds, including accepting bribes or misappropriating
government funds.
C. PEPs are foreign customers who inherently present additional
risk as they are engaged in crossborder transactions.
D. PEPs generally do not pose enhanced risks to an institution due
to their political standing; rather, PEPs increase the prestige of an
institution.
B. PEPs have significantly greater exposure to the politically
corrupt funds, including accepting bribes or misappropriating
government funds.
9. In 2014, the Wolfsberg Group published its Anti-Money
Laundering Principles for Correspondent Banking. Which three of
the following elements are recommended to be included in the due
diligence of a correspondent banking client?
A. The geographic risk
B. The ownership and management structure
C. The résumé of the compliance officer
D. The customer base
, A. The geographic risk
B. The ownership and management structure
D. The customer base
10. A new customer approaches a bank to open a commercial
account. The customer provides an address for the account located
across the city from the branch. When asked by the account
representative if the customer requires any additional banking
services, the customer responds that she is also interested in
opening a personal investment account. The account
representative refers the customer to the broker-dealer. The
customer tells the firm representative she has never had a
brokerage account before and has a few questions about how an
investment account works. The customer asks how deposits can
be made into her account, if there are any reporting requirements,
and how to go about moving balances out of the account using
wire transfers. No questions are asked about fees associated with
these transactions. Which three items would be considered
suspicious?
A. The customer asks many questions about the brokerage account
but none of them is related to investing.
B. The customer is opening a commercial account and at the same
time a personal investment account.
C. The address of the account holder and the branch where the
customer came to open the account are not close to each other.
D. The customer appears unconcerned about the fees.
A. The customer asks many questions about the brokerage account
but none of them is related to investing.
C. The address of the account holder and the branch where the
customer came to open the account are not close to each other.
D. The customer appears unconcerned about the fees.
11. Trade-based money laundering requires the ability to
A. over- or under-invoice the goods.
B. sell the imported goods for as little as possible.
C. use goods that do not need to be declared.
D. avoid the use of high-value assets such as luxury cars or boats.
A. over- or under-invoice the goods.
12. Which 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.
