ACAMS PRACTICE TEST (100% PASS) b b b b
Which vof vthe vfollowing vis vthe vmost vcommon vmethod vof vlaundering vmoney
b b b b b b b b b b b
vthrough va vlegal vmoney vservices vbusiness? v- v vcorrect vanswer- vPurchasing
b b b b b b b b b b b
vstructured vmoney vinstruments
b b b
In vgeneral, vthe v3 vphases vof vmoney vlaundering vare vsaid vto vbe: vPlacement; v- v
b b b b b b b b b b b b b b
vcorrect vanswer- vLayering vand vintegration
b b b b b
Which vstatement vis vtrue? v- v vcorrect vanswer- vBust-out vschemes vare vpopular vin
b b b b b b b b b b b b
vcreating vlarge vbankruptcy vfrauds vwhere vbusinesses vsecure vincreasing vloans vin
b b b b b b b b b b
vexcess vof vthe vactual vvalue vof vthe vcompany vor vproperty vand vthen vrun vwith vthe
b b b b b b b b b b b b b b b
vmoney. vLeaving vthe vlender vto vforeclose vand vtake va vsubstantial vloss
b b b b b b b b b b b
Which v3 vof vthe vfollowing vis van vindication vof vpossible vmoney vlaundering vin van
b b b b b b b b b b b b b
vinsurance vindustry vscenario? v- v vcorrect vanswer- v-Single-premium vinsurance
b b b b b b b b b
vbonds, vredeemed vat va vdiscount
b b b b b
-Policyholders vwho vare vunconcerned vabout vpenalties vfor vearly vcancellation b b b b b b b b
-Policyholders vwho vmake vfull vuse vof vthe v"free vlook" vperiod b b b b b b b b b
Which v2 vactivities vare vtypically vassociated vwith vthe vblack vmarket vpeso vexchange
b b b b b b b b b b b
v(BMPE) vmoney vlaundering vsystem? v- v vcorrect vanswer- v-Converting villicit vdrug
b b b b b b b b b b b
vproceeds vfrom vdollars vor vEuros vto vColombian vpesos
b b b b b b b b
-Facilitating vpurchases vby vColombian vimporters vof vgoods vmanufactured vin vthe
b b b b b b b b b
vUnited vStates vor vEurope vthrough vpeso vbrokers
b b b b b b b
What vis vthe vRight vof vReciprocity vin vthe vfield vof vin vthe vfield vof vinternational
b b b b b b b b b b b b b b
vcooperation vagainst vmoney vlaundering? v- v vcorrect vanswer- vA vrule vin vthe vlaw vof
b b b b b b b b b b b b b b
va vcountry vallowing vits vauthorities vto vcooperate vwith vauthorities vof vother vcountries
b b b b b b b b b b b b
vto vthe vdegree vthat vtheir vlaw vallows vthem vto vdo vthe vsame
b b b b b b b b b b b b
The vgreatest vrisk vfor vmoney vlaundering vis vfor vcasinos vthat v- v vcorrect vanswer-
b b b b b b b b b b b b b
vAllow vcustomers vwith vcredit vbalances vto vwithdraw vfunds vby vcheck vin vanother
b b b b b b b b b b b b
vjurisdiction
b
Which vstatement vis vtrue vregarding vthe vrisk vof vPolitically vExposed vPersons
b b b b b b b b b b
v(PEPs)? v- v vcorrect vanswer- vPEPs vhave vsignificantly vgreater vexposure vto vthe
b b b b b b b b b b b b
vpolitically vcorrupt vfunds, vincluding vaccepting vbribes vor vmisappropriating
b b b b b b b b
vgovernment vfunds
b b
Dirty vmoney, vderived vfrom vcriminal vactivities vof vBelgian vCriminal vA, vis vsent vto va
b b b b b b b b b b b b b
vforeign vbank vaccount vof vCorporation vB. vThen vin vBelgium, va vnew vinvestment
b b b b b b b b b b b b
vCompany vC vis vincorporated. vCriminal vA vis vappointed vas va vdirector vof vCompany
b b b b b b b b b b b b b
, vC. vCompany vC vborrows vmoney vfrom vthe vforeign vCompany vB vand vbuys vreal
b b b b b b b b b b b b b
vestate vin vBelgium. vThe vreal vestate vis vrented vto vthird vparties. vDirector v(Criminal)
b b b b b b b b b b b b b
vA valso vrents van vapartment vin vthe vbuilding v.With vthe vfunds vgenerated vby vthe
b b b b b b b b b b b b b b
vrent, vCompany vC vpays voff vthe vloan vto vCorporation vB, vand vthe vsalary vof
b b b b b b b b b b b b b b
vDirector vA. vCriminal vA vnow vconverted vhis vdirty vmoney vin vlegal vfunds v.This
b b b b b b b b b b b b b
vlaundering vmethod vis vcommonly vreferred vto vas vwhat? v- v vcorrect vanswer- vLoan
b b b b b b b b b b b b b
vback
b
A vnew vcustomer vapproaches va vbank vto vopen va vcommercial vaccount. vThe
b b b b b b b b b b b
vcustomer vprovides van vaddress vfor vthe vaccount vlocated vacross vthe vcity vfrom vthe
b b b b b b b b b b b b b
vbranch. vWhen vasked vby vthe vaccount vrepresentative vif vthe vcustomer vrequires
b b b b b b b b b b b
vany vadditional vbanking vservices, vthe vcustomer vresponds vshe vis valso vinterested
b b b b b b b b b b b
vin vopening va vpersonal vinvestment vaccount. vThe vaccount vrepresentative vrefers
b b b b b b b b b b
vthe vcustomer vto vtheir vbroke-dealer. vThe vcustomer vtells vthe vfirm vrepresentative
b b b b b b b b b b b
vshe vhas vnever vhad va vbrokerage vaccount vbefore vand vhas va vfew vquestions vabout
b b b b b b b b b b b b b b
vhow van vinvestment vaccount vworks. vThe vcustomer vasks vhow vdeposits vcan vbe
b b b b b b b b b b b b
vmade vinto vher vaccount, vif vthere vare vany vreporting vrequirements, vand vhow vto vgo
b b b b b b b b b b b b b b
vabout vmoving vbalances vout vof vthe vaccount vusing vwire vtransfers. vNo vquestions
b b b b b b b b b b b b
vare vasked vabout vfees vassociated vwith vthese vtransactions. vWhich vthree vitems
b b b b b b b b b b b
vwould vbe vconsidered vsuspicious? v- v vcorrect vanswer- vThe vcustomer vasks vmany
b b b b b b b b b b b b
vquestions vabout vthe vbrokerage vaccount, vbut vnone vof vthem vare vrelated vto
b b b b b b b b b b b b
vinvesting.
b
The vaddress vof vthe vaccount vholder vand vthe vbranch vwhere vthe vcustomer vcame vto
b b b b b b b b b b b b b
vopen vthe vaccount vare vnot vclose vto veach vother.
b b b b b b b b b
That vthe vcustomer vappears vunconcerned vabout vthe vfees.
b b b b b b b
International vtrade vin vgoods vand vservices vcan vbe vused vas veither va vcover vfor b b b b b b b b b b b b b
vmoney vlaundering vor vas vthe vlaundering vmechanism vitself. vWhat vis vMOST
b b b b b b b b b b b
vimportant vfor vthe vlaunderer vwhen vengaging vin vthis vmethod? vThe vability: v- v
b b b b b b b b b b b b b
vcorrect vanswer- vTo vover-or vunder-invoice vthe vgoods.
b b b b b b b
Which vof vthe vfollowing vstatements vis vtrue? vCorrespondent vbanking vis vMOST
b b b b b b b b b b
vvulnerable vto vmoney vlaundering vwhen vthe vcorrespondent vaccount vis: v- v vcorrect
b b b b b b b b b b b b
vanswer- vMaintained vfor va vforeign vbank vthat vdoes vnot vhave va vphysical vpresence
b b b b b b b b b b b b b
vin vany vcountry.
b b b
Which vstatement vis vtrue? vLawyers: v- v vcorrect vanswer- vCan vbe vabused vby
b b b b b b b b b b b b
vlaunderers vby vusing vthe vaccounts vthey vset vup vfor vthem vfor vthe vplacement vand
b b b b b b b b b b b b b b
vlayering vof vfunds.
b b b
The vThird vEU vMoney vLaundering vDirective vof v2005 vapplies vto vwhich vof vthe
b b b b b b b b b b b b
vfollowing vfirms? v- v vcorrect vanswer- vAuditors, vestate vagents vbased vin vthe vEU.
b b b b b b b b b b b b b
According vto vthe vEU vDirectives vof v2001, van vindependent vlegal vprofessional vis b b b b b b b b b b b
vobligated vto vreport vsuspicion vof vmoney vlaundering vin va vclient vrelationship vwhen:
b b b b b b b b b b b b
v- v vcorrect vanswer- vParticipating vin vfinancial vor vcorporate vtransactions.
b b b b b b b b b b
Which vof vthe vfollowing vis vthe vmost vcommon vmethod vof vlaundering vmoney
b b b b b b b b b b b
vthrough va vlegal vmoney vservices vbusiness? v- v vcorrect vanswer- vPurchasing
b b b b b b b b b b b
vstructured vmoney vinstruments
b b b
In vgeneral, vthe v3 vphases vof vmoney vlaundering vare vsaid vto vbe: vPlacement; v- v
b b b b b b b b b b b b b b
vcorrect vanswer- vLayering vand vintegration
b b b b b
Which vstatement vis vtrue? v- v vcorrect vanswer- vBust-out vschemes vare vpopular vin
b b b b b b b b b b b b
vcreating vlarge vbankruptcy vfrauds vwhere vbusinesses vsecure vincreasing vloans vin
b b b b b b b b b b
vexcess vof vthe vactual vvalue vof vthe vcompany vor vproperty vand vthen vrun vwith vthe
b b b b b b b b b b b b b b b
vmoney. vLeaving vthe vlender vto vforeclose vand vtake va vsubstantial vloss
b b b b b b b b b b b
Which v3 vof vthe vfollowing vis van vindication vof vpossible vmoney vlaundering vin van
b b b b b b b b b b b b b
vinsurance vindustry vscenario? v- v vcorrect vanswer- v-Single-premium vinsurance
b b b b b b b b b
vbonds, vredeemed vat va vdiscount
b b b b b
-Policyholders vwho vare vunconcerned vabout vpenalties vfor vearly vcancellation b b b b b b b b
-Policyholders vwho vmake vfull vuse vof vthe v"free vlook" vperiod b b b b b b b b b
Which v2 vactivities vare vtypically vassociated vwith vthe vblack vmarket vpeso vexchange
b b b b b b b b b b b
v(BMPE) vmoney vlaundering vsystem? v- v vcorrect vanswer- v-Converting villicit vdrug
b b b b b b b b b b b
vproceeds vfrom vdollars vor vEuros vto vColombian vpesos
b b b b b b b b
-Facilitating vpurchases vby vColombian vimporters vof vgoods vmanufactured vin vthe
b b b b b b b b b
vUnited vStates vor vEurope vthrough vpeso vbrokers
b b b b b b b
What vis vthe vRight vof vReciprocity vin vthe vfield vof vin vthe vfield vof vinternational
b b b b b b b b b b b b b b
vcooperation vagainst vmoney vlaundering? v- v vcorrect vanswer- vA vrule vin vthe vlaw vof
b b b b b b b b b b b b b b
va vcountry vallowing vits vauthorities vto vcooperate vwith vauthorities vof vother vcountries
b b b b b b b b b b b b
vto vthe vdegree vthat vtheir vlaw vallows vthem vto vdo vthe vsame
b b b b b b b b b b b b
The vgreatest vrisk vfor vmoney vlaundering vis vfor vcasinos vthat v- v vcorrect vanswer-
b b b b b b b b b b b b b
vAllow vcustomers vwith vcredit vbalances vto vwithdraw vfunds vby vcheck vin vanother
b b b b b b b b b b b b
vjurisdiction
b
Which vstatement vis vtrue vregarding vthe vrisk vof vPolitically vExposed vPersons
b b b b b b b b b b
v(PEPs)? v- v vcorrect vanswer- vPEPs vhave vsignificantly vgreater vexposure vto vthe
b b b b b b b b b b b b
vpolitically vcorrupt vfunds, vincluding vaccepting vbribes vor vmisappropriating
b b b b b b b b
vgovernment vfunds
b b
Dirty vmoney, vderived vfrom vcriminal vactivities vof vBelgian vCriminal vA, vis vsent vto va
b b b b b b b b b b b b b
vforeign vbank vaccount vof vCorporation vB. vThen vin vBelgium, va vnew vinvestment
b b b b b b b b b b b b
vCompany vC vis vincorporated. vCriminal vA vis vappointed vas va vdirector vof vCompany
b b b b b b b b b b b b b
, vC. vCompany vC vborrows vmoney vfrom vthe vforeign vCompany vB vand vbuys vreal
b b b b b b b b b b b b b
vestate vin vBelgium. vThe vreal vestate vis vrented vto vthird vparties. vDirector v(Criminal)
b b b b b b b b b b b b b
vA valso vrents van vapartment vin vthe vbuilding v.With vthe vfunds vgenerated vby vthe
b b b b b b b b b b b b b b
vrent, vCompany vC vpays voff vthe vloan vto vCorporation vB, vand vthe vsalary vof
b b b b b b b b b b b b b b
vDirector vA. vCriminal vA vnow vconverted vhis vdirty vmoney vin vlegal vfunds v.This
b b b b b b b b b b b b b
vlaundering vmethod vis vcommonly vreferred vto vas vwhat? v- v vcorrect vanswer- vLoan
b b b b b b b b b b b b b
vback
b
A vnew vcustomer vapproaches va vbank vto vopen va vcommercial vaccount. vThe
b b b b b b b b b b b
vcustomer vprovides van vaddress vfor vthe vaccount vlocated vacross vthe vcity vfrom vthe
b b b b b b b b b b b b b
vbranch. vWhen vasked vby vthe vaccount vrepresentative vif vthe vcustomer vrequires
b b b b b b b b b b b
vany vadditional vbanking vservices, vthe vcustomer vresponds vshe vis valso vinterested
b b b b b b b b b b b
vin vopening va vpersonal vinvestment vaccount. vThe vaccount vrepresentative vrefers
b b b b b b b b b b
vthe vcustomer vto vtheir vbroke-dealer. vThe vcustomer vtells vthe vfirm vrepresentative
b b b b b b b b b b b
vshe vhas vnever vhad va vbrokerage vaccount vbefore vand vhas va vfew vquestions vabout
b b b b b b b b b b b b b b
vhow van vinvestment vaccount vworks. vThe vcustomer vasks vhow vdeposits vcan vbe
b b b b b b b b b b b b
vmade vinto vher vaccount, vif vthere vare vany vreporting vrequirements, vand vhow vto vgo
b b b b b b b b b b b b b b
vabout vmoving vbalances vout vof vthe vaccount vusing vwire vtransfers. vNo vquestions
b b b b b b b b b b b b
vare vasked vabout vfees vassociated vwith vthese vtransactions. vWhich vthree vitems
b b b b b b b b b b b
vwould vbe vconsidered vsuspicious? v- v vcorrect vanswer- vThe vcustomer vasks vmany
b b b b b b b b b b b b
vquestions vabout vthe vbrokerage vaccount, vbut vnone vof vthem vare vrelated vto
b b b b b b b b b b b b
vinvesting.
b
The vaddress vof vthe vaccount vholder vand vthe vbranch vwhere vthe vcustomer vcame vto
b b b b b b b b b b b b b
vopen vthe vaccount vare vnot vclose vto veach vother.
b b b b b b b b b
That vthe vcustomer vappears vunconcerned vabout vthe vfees.
b b b b b b b
International vtrade vin vgoods vand vservices vcan vbe vused vas veither va vcover vfor b b b b b b b b b b b b b
vmoney vlaundering vor vas vthe vlaundering vmechanism vitself. vWhat vis vMOST
b b b b b b b b b b b
vimportant vfor vthe vlaunderer vwhen vengaging vin vthis vmethod? vThe vability: v- v
b b b b b b b b b b b b b
vcorrect vanswer- vTo vover-or vunder-invoice vthe vgoods.
b b b b b b b
Which vof vthe vfollowing vstatements vis vtrue? vCorrespondent vbanking vis vMOST
b b b b b b b b b b
vvulnerable vto vmoney vlaundering vwhen vthe vcorrespondent vaccount vis: v- v vcorrect
b b b b b b b b b b b b
vanswer- vMaintained vfor va vforeign vbank vthat vdoes vnot vhave va vphysical vpresence
b b b b b b b b b b b b b
vin vany vcountry.
b b b
Which vstatement vis vtrue? vLawyers: v- v vcorrect vanswer- vCan vbe vabused vby
b b b b b b b b b b b b
vlaunderers vby vusing vthe vaccounts vthey vset vup vfor vthem vfor vthe vplacement vand
b b b b b b b b b b b b b b
vlayering vof vfunds.
b b b
The vThird vEU vMoney vLaundering vDirective vof v2005 vapplies vto vwhich vof vthe
b b b b b b b b b b b b
vfollowing vfirms? v- v vcorrect vanswer- vAuditors, vestate vagents vbased vin vthe vEU.
b b b b b b b b b b b b b
According vto vthe vEU vDirectives vof v2001, van vindependent vlegal vprofessional vis b b b b b b b b b b b
vobligated vto vreport vsuspicion vof vmoney vlaundering vin va vclient vrelationship vwhen:
b b b b b b b b b b b b
v- v vcorrect vanswer- vParticipating vin vfinancial vor vcorporate vtransactions.
b b b b b b b b b b