AML FOR LENDERS EXAM QUESTIONS
WITH 100% CORRECT ANSWERS |
LATEST VERSION 2025/2026.
Individual employees and their financial institutions can receive civil and monetary penalties if
they unknowingly assist money launderers. - ANS True
For the laundering process to be a success, the three steps must be completed with no paper or
electronic link between them, and without detection. - ANS True
A CIP must include procedures for determining whether a customer's name appears on any
government list of known or suspected terrorists before or shortly after a new account is
opened. - ANS True
If you file a SAR, you must do so within how many days after detecting the facts that triggered
the SAR filing? - ANS 30
Money laundering is the process where the proceeds of legitimate activity are introduced into
the mainstream of financial commerce. - ANS False
A(n) ________ banking relationship is created when an institution sells its services (such as
foreign exchange transactions, domestic or international payments, or credit) to another
institution. - ANS Correspondent
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
WITH 100% CORRECT ANSWERS |
LATEST VERSION 2025/2026.
Individual employees and their financial institutions can receive civil and monetary penalties if
they unknowingly assist money launderers. - ANS True
For the laundering process to be a success, the three steps must be completed with no paper or
electronic link between them, and without detection. - ANS True
A CIP must include procedures for determining whether a customer's name appears on any
government list of known or suspected terrorists before or shortly after a new account is
opened. - ANS True
If you file a SAR, you must do so within how many days after detecting the facts that triggered
the SAR filing? - ANS 30
Money laundering is the process where the proceeds of legitimate activity are introduced into
the mainstream of financial commerce. - ANS False
A(n) ________ banking relationship is created when an institution sells its services (such as
foreign exchange transactions, domestic or international payments, or credit) to another
institution. - ANS Correspondent
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
