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AML EXAM QUESTIONS WITH 100%
CORRECT SOLUTIONS | GUARANTEED
SUCCESS.
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
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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
AML EXAM QUESTIONS WITH 100%
CORRECT SOLUTIONS | GUARANTEED
SUCCESS.
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
, 2 | Page
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
