ACAMS MOCK EXAM 2025/2026 BANK
CURRENTLY TESTING COMPLETE
ACTUAL QUESTIONS WITH DETAILED
VERIFIED ANSWERS EXPERT
VERIFIED /ALREADY GRADED A+
What is the primary action a financial institution should
take before formulating its antimoney laundering
program? - ....ANSWER...It should consult with its
correspondent banks to determine the nature and extent of
their AML programs
Which activity is most likely to facilitate money
laundering through on-line systems with inadequate
controls? - ....ANSWER...Providing continuous worldwide
access
A customer has held an account at a local credit
institution for 10 years. The account has received deposits
twice weekly for the same amount and has never shown
signs of suspect behavior. Monitoring software indicated
that in the past few months the account has received
,several large deposits that were not in line with the
account history. When asked, the customer states she
recently sold a piece of property, which is supported with a
proof of sale. What should the compliance officer do next?
- ....ANSWER...File and STR with competent authorities
What describes the Black Market Peso Exchange money
laundering method? - ....ANSWER...a method primarily
used by narcotics traffickers to transfer value to the source
country
In general, what is an element that a financial institution
or business does not have to specifically address in an anti-
money laundering program? - ....ANSWER...a description
of its OFAC program to address government watch list
screening
How can dealers in high-value items be at risk for money
laundering? - ....ANSWER...Carrying large amounts of
gems of high value is physically easy
Why is the Mutual Legal Assistance Treaty (MLAT) a
gateway for international cooperation? -
,....ANSWER...They provide a legal basis for transmitting
evidence that can be used for prosecution and judicial
proceedings
A profitable commercial customer who operates an import-
export business has multiple accounts with the same
institution at branches in different locations. The customer
receives funds from a jurisdiction perceived as highly
corrupt according to Transparency International ratings.
The customer makes frequent transfers among the
accounts and prefers to manage the accounts separately.
What should the institution do to mitigate the risk
associated with these accounts? - ....ANSWER...File a
suspicious transaction report
What are some red flags pertaining to potentially
suspicious transactions by a customer? -
....ANSWER...Having multiple addresses and/or moving
frequently
Have a common address with several other bank clients
, Having multiple individuals use the ATM card connected
with the account in different cities
What facilitates law enforcement agent obtaining evidence
from authorities in a foreign country relating to criminal
activity? - ....ANSWER...Mutual Legal Assistance Treaties
(MLAT)
When an institution files an STR with regard to a
particular account, what steps should the institution take
on the account? - ....ANSWER...The institution should
consult its counsel and AML compliance officer and
determine whether closing account is in accord with the
institution's procedures
Which three procedures should a compliance officer
looking to revise an institution's CTF efforts include in
accordance with the Wolfsberg Group's Statement on the
Suppression of the Financing of Terrorism? -
....ANSWER...Consulting applicable lists and taking
appropriate actions to determine if customers appear on
such lists
CURRENTLY TESTING COMPLETE
ACTUAL QUESTIONS WITH DETAILED
VERIFIED ANSWERS EXPERT
VERIFIED /ALREADY GRADED A+
What is the primary action a financial institution should
take before formulating its antimoney laundering
program? - ....ANSWER...It should consult with its
correspondent banks to determine the nature and extent of
their AML programs
Which activity is most likely to facilitate money
laundering through on-line systems with inadequate
controls? - ....ANSWER...Providing continuous worldwide
access
A customer has held an account at a local credit
institution for 10 years. The account has received deposits
twice weekly for the same amount and has never shown
signs of suspect behavior. Monitoring software indicated
that in the past few months the account has received
,several large deposits that were not in line with the
account history. When asked, the customer states she
recently sold a piece of property, which is supported with a
proof of sale. What should the compliance officer do next?
- ....ANSWER...File and STR with competent authorities
What describes the Black Market Peso Exchange money
laundering method? - ....ANSWER...a method primarily
used by narcotics traffickers to transfer value to the source
country
In general, what is an element that a financial institution
or business does not have to specifically address in an anti-
money laundering program? - ....ANSWER...a description
of its OFAC program to address government watch list
screening
How can dealers in high-value items be at risk for money
laundering? - ....ANSWER...Carrying large amounts of
gems of high value is physically easy
Why is the Mutual Legal Assistance Treaty (MLAT) a
gateway for international cooperation? -
,....ANSWER...They provide a legal basis for transmitting
evidence that can be used for prosecution and judicial
proceedings
A profitable commercial customer who operates an import-
export business has multiple accounts with the same
institution at branches in different locations. The customer
receives funds from a jurisdiction perceived as highly
corrupt according to Transparency International ratings.
The customer makes frequent transfers among the
accounts and prefers to manage the accounts separately.
What should the institution do to mitigate the risk
associated with these accounts? - ....ANSWER...File a
suspicious transaction report
What are some red flags pertaining to potentially
suspicious transactions by a customer? -
....ANSWER...Having multiple addresses and/or moving
frequently
Have a common address with several other bank clients
, Having multiple individuals use the ATM card connected
with the account in different cities
What facilitates law enforcement agent obtaining evidence
from authorities in a foreign country relating to criminal
activity? - ....ANSWER...Mutual Legal Assistance Treaties
(MLAT)
When an institution files an STR with regard to a
particular account, what steps should the institution take
on the account? - ....ANSWER...The institution should
consult its counsel and AML compliance officer and
determine whether closing account is in accord with the
institution's procedures
Which three procedures should a compliance officer
looking to revise an institution's CTF efforts include in
accordance with the Wolfsberg Group's Statement on the
Suppression of the Financing of Terrorism? -
....ANSWER...Consulting applicable lists and taking
appropriate actions to determine if customers appear on
such lists
