aml exam with correct aswers
In |the |first |stage |of |money |laundering |what |is |the |goal?
a. |distance |yourself |from |the |money
b. |get |the |money |into |the |financial |system
c. |make |it |appear |that |the |money |is |legitimate
d. |purchase |high-end |goods |- |correct |answer |-b
What |is |the |process |in |the |second |stage |of |money |laundering?
a. |sending |money |between |accounts |so |the |audit |trail |is |obscured |
b. |bribing |bank |officials |to |take |the |money
c. |investing |the |money |into |legitimate |business |operations
d. |depositing |the |money |into |a |bank |account |- |correct |answer |-a
What |are |the |three |things |that |might |be |done |during |the |course |of |laundering |money?
a. |depositing |money |into |a |bank |account
b. |underpaying |taxes
c. |buying |high-end |goods
d. |sending |money |abroad |- |correct |answer |-a,c,d
What |is |the |ultimate |purpose |of |money |laundering?
a. |to |make |it |appear |that |the |funds |are |legitimate
b. |to |invest |money |in |your |business
c. |to |invest |in |high-end |luxury |goods
d. |to |buy |more |drugs |- |correct |answer |-a
Why |is |a |payable |through |account |vulnerable |to |money |laundering?
, a. |it |can |be |very |difficult |to |conduct |due |diligence |on |the |foreign |institution |customers |who |are
|ultimately |using |these |accounts
b. |these |are |concentration |accounts |located |in |a |domestic |branch |of |a |foreign |bank
c. |these |are |nested |correspondent |accounts |at |a |foreign |shell |bank |with |customers |with |whom |the
|domestic |bank |did |not |exercise |due |diligence
d. |these |are |master |escrow |accounts |on |which |a |domestic |bank |generally |does |not |conduct
|periodic |verification |- |correct |answer |-a
In |which |three |areas |can |money |laundering |occur?
a. |in |luxury |hotels
b. |in |payable |through |accounts
c. |in |correspondent |accounts
d. |in |bank |accounts |- |correct |answer |-b,c,d
Accepting |money |derived |from |illegal |sources |makes |you |an |accomplice |to |money |laundering.
a. |no
b. |yes |- |correct |answer |-b
Financial |institutions |that |rely |on |the |proceeds |of |crime |face |all |of |the |following |adverse
|consequences |of |money |laundering, |EXCEPT:
a. |diversification |risks
b. |reputational |risks
c. |operational |risks
d. |legal |risks |- |correct |answer |-a
Structuring |is |usually |a |process |associated |with |which |stage |of |money |laundering?
a. |first |stage
b. |second |stage
c. |third |stage
d. |none |of |the |above |- |correct |answer |-a
In |the |first |stage |of |money |laundering |what |is |the |goal?
a. |distance |yourself |from |the |money
b. |get |the |money |into |the |financial |system
c. |make |it |appear |that |the |money |is |legitimate
d. |purchase |high-end |goods |- |correct |answer |-b
What |is |the |process |in |the |second |stage |of |money |laundering?
a. |sending |money |between |accounts |so |the |audit |trail |is |obscured |
b. |bribing |bank |officials |to |take |the |money
c. |investing |the |money |into |legitimate |business |operations
d. |depositing |the |money |into |a |bank |account |- |correct |answer |-a
What |are |the |three |things |that |might |be |done |during |the |course |of |laundering |money?
a. |depositing |money |into |a |bank |account
b. |underpaying |taxes
c. |buying |high-end |goods
d. |sending |money |abroad |- |correct |answer |-a,c,d
What |is |the |ultimate |purpose |of |money |laundering?
a. |to |make |it |appear |that |the |funds |are |legitimate
b. |to |invest |money |in |your |business
c. |to |invest |in |high-end |luxury |goods
d. |to |buy |more |drugs |- |correct |answer |-a
Why |is |a |payable |through |account |vulnerable |to |money |laundering?
, a. |it |can |be |very |difficult |to |conduct |due |diligence |on |the |foreign |institution |customers |who |are
|ultimately |using |these |accounts
b. |these |are |concentration |accounts |located |in |a |domestic |branch |of |a |foreign |bank
c. |these |are |nested |correspondent |accounts |at |a |foreign |shell |bank |with |customers |with |whom |the
|domestic |bank |did |not |exercise |due |diligence
d. |these |are |master |escrow |accounts |on |which |a |domestic |bank |generally |does |not |conduct
|periodic |verification |- |correct |answer |-a
In |which |three |areas |can |money |laundering |occur?
a. |in |luxury |hotels
b. |in |payable |through |accounts
c. |in |correspondent |accounts
d. |in |bank |accounts |- |correct |answer |-b,c,d
Accepting |money |derived |from |illegal |sources |makes |you |an |accomplice |to |money |laundering.
a. |no
b. |yes |- |correct |answer |-b
Financial |institutions |that |rely |on |the |proceeds |of |crime |face |all |of |the |following |adverse
|consequences |of |money |laundering, |EXCEPT:
a. |diversification |risks
b. |reputational |risks
c. |operational |risks
d. |legal |risks |- |correct |answer |-a
Structuring |is |usually |a |process |associated |with |which |stage |of |money |laundering?
a. |first |stage
b. |second |stage
c. |third |stage
d. |none |of |the |above |- |correct |answer |-a
