ACAMS-Prep-Mock EXAM | Test Review
Questions with 100% Verified Answers for 2026
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Terms in this set (141)
What are three indicators of money Funds transfers to or from financial secrecy haven
laundering associated with using without an apparent business reason.
electronic funds transfers?
Funds transfers are received or sent from the
same person to or from different accounts.
Payments or receipts with no apparent link to
legitimate contract goods or services
On who does the ultimate FI board of directors.
responsibility for an institution's
anti-money laundering program
rest?
Federal law requires all U.S. 5 years
financial institutions to secure and
maintain all records and supporting
documentation used in suspicious
activity reporting for how many
years?
,The marketing department presents Investigate the source of funds.
a business plan targeting individuals
holding important public positions. Determine the purpose of the account.
What are some steps the financial
institution should implement as part Take all reasonable steps to check the
of the plan to target such background of the individual based on public
individuals? information.
Which statement is true about The agencies authority to conduct examinations
banking regulatory agencies having negates the need for a warrant or subpoena.
the authority to obtain information
from regulated institutions?
A customer comes into the bank File a SAR on the customer
and appears to be ill-at-ease
waiting in the teller line. When the
customer gets to the teller, he
become exceedingly nervous and
asks for a large cashier's check to
be cashed and disbursed to him in
$100 bills.
What should the teller do after
completing the transaction?
What is the term for trading through Wash Trading
multiple accounts, where an
individual generates offsetting
profits and losses and transfers of
positions through accounts that do
not appear to be commonly
controlled?
In performing a risk analysis, which Its customer base, location, products and
factor(s) should a financial services.
institution review?
, How should a financial institution Document the identity of the party opening the
deter money laundering through account.
new accounts?
Determine the beneficial owners of the account.
Seek to determine the the source of deposited
funds.
A commission regotorie would be An FIU request under the EGMONT principles
used in which gateway to obtain
information from another country?
What are the European Union They require members to implement certain laws
Directives on Money Laundering? to prevent money laundering.
What should law enforcement a written request on government agency
provide when asking an institution letterhead with the appropriate signature.
to keep an account open?
The Wolfsberg Principles for Private High risk countries
Banking list circumstances that
would require additional due High risk activities
diligence, including activities that
involve which three of these Public officials, including those who had
choices? positions of public trust.
A compliance officer is looking to Approval of PEPs by at least one person other
update an institution's private bank than the relationship manager.
procedures. What should be
included as recommended by the
Wolfsberg AML Principles on
Private Banking?
Questions with 100% Verified Answers for 2026
|2027 Already Graded A+
Save
Terms in this set (141)
What are three indicators of money Funds transfers to or from financial secrecy haven
laundering associated with using without an apparent business reason.
electronic funds transfers?
Funds transfers are received or sent from the
same person to or from different accounts.
Payments or receipts with no apparent link to
legitimate contract goods or services
On who does the ultimate FI board of directors.
responsibility for an institution's
anti-money laundering program
rest?
Federal law requires all U.S. 5 years
financial institutions to secure and
maintain all records and supporting
documentation used in suspicious
activity reporting for how many
years?
,The marketing department presents Investigate the source of funds.
a business plan targeting individuals
holding important public positions. Determine the purpose of the account.
What are some steps the financial
institution should implement as part Take all reasonable steps to check the
of the plan to target such background of the individual based on public
individuals? information.
Which statement is true about The agencies authority to conduct examinations
banking regulatory agencies having negates the need for a warrant or subpoena.
the authority to obtain information
from regulated institutions?
A customer comes into the bank File a SAR on the customer
and appears to be ill-at-ease
waiting in the teller line. When the
customer gets to the teller, he
become exceedingly nervous and
asks for a large cashier's check to
be cashed and disbursed to him in
$100 bills.
What should the teller do after
completing the transaction?
What is the term for trading through Wash Trading
multiple accounts, where an
individual generates offsetting
profits and losses and transfers of
positions through accounts that do
not appear to be commonly
controlled?
In performing a risk analysis, which Its customer base, location, products and
factor(s) should a financial services.
institution review?
, How should a financial institution Document the identity of the party opening the
deter money laundering through account.
new accounts?
Determine the beneficial owners of the account.
Seek to determine the the source of deposited
funds.
A commission regotorie would be An FIU request under the EGMONT principles
used in which gateway to obtain
information from another country?
What are the European Union They require members to implement certain laws
Directives on Money Laundering? to prevent money laundering.
What should law enforcement a written request on government agency
provide when asking an institution letterhead with the appropriate signature.
to keep an account open?
The Wolfsberg Principles for Private High risk countries
Banking list circumstances that
would require additional due High risk activities
diligence, including activities that
involve which three of these Public officials, including those who had
choices? positions of public trust.
A compliance officer is looking to Approval of PEPs by at least one person other
update an institution's private bank than the relationship manager.
procedures. What should be
included as recommended by the
Wolfsberg AML Principles on
Private Banking?
