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AML EXAM BRAND NEW OFFICIAL
QUESTIONS WITH ANSWERS.
1. Gatekeepers are defined as _________.
a. professionals such as lawyers, accountants, notaries
and foreign exchange dealers.
b. professionals such as lawyers, accountants, notaries,
investment advisers and trust and company service
providers.
c. professionals such as lawyers, accountants, private
bankers, investment advisers and trust and company
service providers.
d. professionals such as lawyers, accountants, notaries
and fraud examiners. - correct answer -b
2. Since trusts may be formed in order to conceal the identity of
the true owner or beneficiary, payments made to the
beneficiaries of a trust can also be used in the money
laundering process.
a. false
b. true - correct answer -b
3. a virtual or digital currency is a medium of exchange that
operates only in the digital space. it cannot be converted into or
used as a substitute for real currency.
a. false
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b. true - correct answer -a
4. the practice of issuing numerous invoices for the same
shipment of goods, thus allowing the money launderer the
opportunity to make numerous payments and justify them with
the invoices, is known as "ghost-shipping'
a. false
b. true - correct answer -a
5. in the "reverse flip" money laundering method, a criminal
provides an associate with a specific amount of illegitimate
money. the associate then provides a "mortgage" back to the
trafficker for the same amount with all the necessary
documentation. this creates an illusion that the trafficker's funds
are legitimate.
a. false
b. true - correct answer -a
6. Which of the following is the most common method of
laundering money through a legal money services business?
a. exchange currency and remitting money
b. smuggling bulk cash
c. transferring funds through payable through accounts
d. exchanging Colombian pesos on the black market -
correct answer -a
AML EXAM BRAND NEW OFFICIAL
QUESTIONS WITH ANSWERS.
1. Gatekeepers are defined as _________.
a. professionals such as lawyers, accountants, notaries
and foreign exchange dealers.
b. professionals such as lawyers, accountants, notaries,
investment advisers and trust and company service
providers.
c. professionals such as lawyers, accountants, private
bankers, investment advisers and trust and company
service providers.
d. professionals such as lawyers, accountants, notaries
and fraud examiners. - correct answer -b
2. Since trusts may be formed in order to conceal the identity of
the true owner or beneficiary, payments made to the
beneficiaries of a trust can also be used in the money
laundering process.
a. false
b. true - correct answer -b
3. a virtual or digital currency is a medium of exchange that
operates only in the digital space. it cannot be converted into or
used as a substitute for real currency.
a. false
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b. true - correct answer -a
4. the practice of issuing numerous invoices for the same
shipment of goods, thus allowing the money launderer the
opportunity to make numerous payments and justify them with
the invoices, is known as "ghost-shipping'
a. false
b. true - correct answer -a
5. in the "reverse flip" money laundering method, a criminal
provides an associate with a specific amount of illegitimate
money. the associate then provides a "mortgage" back to the
trafficker for the same amount with all the necessary
documentation. this creates an illusion that the trafficker's funds
are legitimate.
a. false
b. true - correct answer -a
6. Which of the following is the most common method of
laundering money through a legal money services business?
a. exchange currency and remitting money
b. smuggling bulk cash
c. transferring funds through payable through accounts
d. exchanging Colombian pesos on the black market -
correct answer -a
