Study guides, Class notes & Summaries

What are bearer negotiable instruments? - Ans Bearer negotiable instruments include monetary instruments in bearer form such as: negotiable instruments (including checks, promissory notes and money orders) that are either in bearer form, are endorsed without restriction, or made out to a fictitious payee, or are otherwise in such form that title there to passes upon delivery. Describe a Patriot Act certification. - Ans A certification is a formal assertion in writing which, under the USA P...

ACAMS STUDY GUIDE 2024| 120+ PRACTICE EXAM QUESTIONS WITH 100% CORRECT ANSWERS| SCORED A+ GUARANTEED 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 Correct Answer a

ACAMS CERTIFICATION EXAM 2024 (VERSION 2) | 80+ ACTUAL EXAM QUESTIONS AND 100% CORRECT ANSWERS Which of the following statements is true? A Credit cards are not likely to be used in the layering phase of money laundering because of restrictions in cash payments B Credit cards are effective instruments for laundering money because the transactions do not create a paper trail C A launderer can launder money by prepaying his credit card using funds that are already in the banking system, creati...

ACAMS CERTIFICATION EXAM 2024 (VERSION 1) | 115+ ACTUAL EXAM QUESTIONS WITH 100% CORRECT ANSWERS| ALREADY GRADED A+ Describe the three phases of money laundering. Correct Answer • Placement is the physical disposal of cash or other assets derived from criminal activity. • Layering is the separation of illicit proceeds from their source by layers of financial transactions intended to conceal the origin of the proceeds. • Integration is supplying apparent legitimacy to illicit wealth throug...

ACAMS Practice Questions With Complete Solutions Graded A+ Already!! C - ️️ -The USA PATRIOT Act was passed in: A) 1970 B) 1985 C) 2001 D) 2007 D - ️️ -The three stages of money laundering are: A) Layering, Placement, Refining B) Placement, Refining, Integration C) Refining. Integration, Layering D) Integration, Layering, Placement D - ️️ -Which of the following would be satisfactory elements of an Anti-Money Laundering Program? I - A CAMS certified employee in the Inve...

ACAMS EXAM WITH CORRECT QUESTIONS AND ANSWERS Which two of the following 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 Europe...

ACAMS EXAM WITH CORRECT QUESTIONS AND ANSWERS Which two of the following 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 Europe...

ACAMS EXAM WITH CORRECT QUESTIONS AND ANSWERS Which two of the following 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 Europe...

ACAMS EXAM WITH CORRECT QUESTIONS AND ANSWERS Which two of the following 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 Europe...

ACAMS EXAM NEWEST 2024 ACTUAL EXAM COMPLETE 220 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+