ACAMS PRACTICE | 241 QUESTIONS AND ANSWERS |
2026 NEW UPDATE | WITH COMPLETE SOLUTION
The USA PATRIOT Act was passed in:
A) 1970
B) 1985
C) 2001
D) 2007 Answer - C
The three stages of money laundering are:
A) Layering, Placement, Refining
B) Placement, Refining, Integration
C) Refining. Integration, Layering
D) Integration, Layering, Placement Answer - D
,Which of the following would be satisfactory elements of an Anti-Money
Laundering Program?
I - A CAMS certified employee in the Investigations Unit writes up a few policies
and procedures and posts them on the department bulletin board.
II - Shortly after attaining their CAMS certification, the individual provides AML
training to the Investigations Unit.
III - The CAMS certified individual routinely reviews the work of the
Investigations Unit.
IV - The CAMS certified individual assumes the responsibility of a compliance
watchdog.
A) All of the above would be satisfactory
B) II and IV would be satisfactory
C) I and III would be satisfactory
D) None of the above would be satisfactory
,The correct answer would be "D - None of the above would be satisfactory."
I - The AML program must be approved by the Board of Directors.
II - An AML training program is required of all personnel (and contrac Answer -
D
In determining what risks a customer poses, which consideration should NOT
be a major factor?
A) Where the customer resides or where the business is headquartered.
, B) What is the size of your financial institution.
C) What occupation or type of business does the customer derive their income
from.
D) What are the customer's ethnic heritage, sexual orientation and political
beliefs.
2026 NEW UPDATE | WITH COMPLETE SOLUTION
The USA PATRIOT Act was passed in:
A) 1970
B) 1985
C) 2001
D) 2007 Answer - C
The three stages of money laundering are:
A) Layering, Placement, Refining
B) Placement, Refining, Integration
C) Refining. Integration, Layering
D) Integration, Layering, Placement Answer - D
,Which of the following would be satisfactory elements of an Anti-Money
Laundering Program?
I - A CAMS certified employee in the Investigations Unit writes up a few policies
and procedures and posts them on the department bulletin board.
II - Shortly after attaining their CAMS certification, the individual provides AML
training to the Investigations Unit.
III - The CAMS certified individual routinely reviews the work of the
Investigations Unit.
IV - The CAMS certified individual assumes the responsibility of a compliance
watchdog.
A) All of the above would be satisfactory
B) II and IV would be satisfactory
C) I and III would be satisfactory
D) None of the above would be satisfactory
,The correct answer would be "D - None of the above would be satisfactory."
I - The AML program must be approved by the Board of Directors.
II - An AML training program is required of all personnel (and contrac Answer -
D
In determining what risks a customer poses, which consideration should NOT
be a major factor?
A) Where the customer resides or where the business is headquartered.
, B) What is the size of your financial institution.
C) What occupation or type of business does the customer derive their income
from.
D) What are the customer's ethnic heritage, sexual orientation and political
beliefs.
