ANTI-MONEY LAUNDERING 3 ACTUAL COMPLETE
EXAM|WITH ACCURATE QUESTIONS AND VERIFIED
ANSWERS|GRADED A
A financial institution is concerned about the possibility of the proceeds
from human trafficking being funneled through the institution. The
institution should be concerned about and be on the lookout for all of the
following, EXCEPT Ans✓✓✓ A group of four women visiting the
financial institution together, but to open separate accounts
According to the AML/CTF risk categories, (blank) customers may
include politically exposed persons (PEPs) or certain types of money
services businesses Ans✓✓✓ High Risk
Banks should verify the identity of the customer using reliable,
independent source documents, data, or information. All of the
following are methods of non-documentary verification EXCEPT:
Ans✓✓✓ Reviewing a copy of financial statements (audited, if available
Economic sanctions are a way to financially isolate a target. All of the
following are categories of economic sanctions, EXCEPT Ans✓✓✓
Monetary Sanctions
In anti-money laundering terminology, a "red flag" is: Ans✓✓✓ A
warning sign indicating potentially suspicious and risky transactions or
activites
, In completing a comprehensive risk assessment, what are three products
or services that may present a higher money laundering or terrorist
financing risk Ans✓✓✓ Wire transfers
Payable through accounts
Private banking
In completing a comprehensive risk assessment, what three types of
customers may present a higher risk for money laundering or terrorist
financing? Ans✓✓✓ Car dealerships
Cash intensive businesses
Travel Agencies
T/F A customer owns a chain of grocery stores and deposits large
amounts of cash several times a day. This can be considered a red flag
indicating unusual cash transactions Ans✓✓✓ False
T/F A retail business that accepts low to moderate levels of cash, but is
not considered-cash intensive, is likely to be categorized as "low risk"
by the financial institution Ans✓✓✓ False
T/F An ongoing employee training program is often considered the
"third line of defense" in the four pillars model of an AML/CTF
program Ans✓✓✓ False
EXAM|WITH ACCURATE QUESTIONS AND VERIFIED
ANSWERS|GRADED A
A financial institution is concerned about the possibility of the proceeds
from human trafficking being funneled through the institution. The
institution should be concerned about and be on the lookout for all of the
following, EXCEPT Ans✓✓✓ A group of four women visiting the
financial institution together, but to open separate accounts
According to the AML/CTF risk categories, (blank) customers may
include politically exposed persons (PEPs) or certain types of money
services businesses Ans✓✓✓ High Risk
Banks should verify the identity of the customer using reliable,
independent source documents, data, or information. All of the
following are methods of non-documentary verification EXCEPT:
Ans✓✓✓ Reviewing a copy of financial statements (audited, if available
Economic sanctions are a way to financially isolate a target. All of the
following are categories of economic sanctions, EXCEPT Ans✓✓✓
Monetary Sanctions
In anti-money laundering terminology, a "red flag" is: Ans✓✓✓ A
warning sign indicating potentially suspicious and risky transactions or
activites
, In completing a comprehensive risk assessment, what are three products
or services that may present a higher money laundering or terrorist
financing risk Ans✓✓✓ Wire transfers
Payable through accounts
Private banking
In completing a comprehensive risk assessment, what three types of
customers may present a higher risk for money laundering or terrorist
financing? Ans✓✓✓ Car dealerships
Cash intensive businesses
Travel Agencies
T/F A customer owns a chain of grocery stores and deposits large
amounts of cash several times a day. This can be considered a red flag
indicating unusual cash transactions Ans✓✓✓ False
T/F A retail business that accepts low to moderate levels of cash, but is
not considered-cash intensive, is likely to be categorized as "low risk"
by the financial institution Ans✓✓✓ False
T/F An ongoing employee training program is often considered the
"third line of defense" in the four pillars model of an AML/CTF
program Ans✓✓✓ False
