Acams Practice Exam 6Th Edition With Complete Solution

Acams Practice Exam 6th Edition With b b b b b




Complete Solution b b




1. bWhat bis bthe bRight bof bReciprocity bin bthe bfield bof binternational bcooperation
b b b b b b b b b b b b




bagainst bmoney blaundering?
b b b




A. bThe blegal bprinciple bthat bfinancial binstitutions bthat bhave breferred bcustomers bto
b b b b b b b b b b b




bother bfinancial binstitutions bcan bshare binformation babout bthese bcustomers bwith
b b b b b b b b b b




bthe bother binstitutions.
b b b




B. bA brule bof bthe bBasel bCommittee ballowing bproperly bregulated bfinancial binstitutes
b b b b b b b b b b b




bof banother bmember bstate bof bthe bBasel bCommittee bto bdo bbusiness bwithout
b b b b b b b b b b b b




badditional bsupervision bto bthe bdegree bthat bthe bother bstate bgrants bthe bsame bright.
b b b b b b b b b b b b b




C. bThe bright bof beach bFATF bmember bcountry bto bdelegate bprosecution bof ba bcase
b b b b b b b b b b b b b




bof bmoney blaundering bto banother bmember bthat bis balready binvestigating bthe bsame
b b b b b b b b b b b b




bcase.
b




D. bA brule bin bthe blaw bof ba bcountry ballowing bits bauthorities bto bcooperate bwith
b b b b b b b b b b b b b b




bauthorities bof bother bcountries bto bthe bdegree bthat btheir blaw ballows bthem bto bdo
b b b b b b b b b b b b b b




bthe bsame.. b- b bcorrect banswer- bD. bA brule bin bthe blaw bof ba bcountry ballowing bits
b b b b b b b b b b b b b b b b b




bauthorities bto bcooperate bwith bauthorities bof bother bcountries bto bthe bdegree bthat
b b b b b b b b b b b b




btheir blaw ballows bthem bto bdo bthe bsame.
b b b b b b b b




1. bWhich bof bthe bfollowing bis bthe bmost bcommon bmethod bof blaundering bmoney
b b b b b b b b b b b b




bthrough ba blegal bmoney bservices bbusiness?
b b b b b b




A. bPurchasing bstructured bmoney binstruments.
b b b b




B. bSmuggling bbulk-cash.
b b




C. bTransferring bfunds bthrough bPayable bThrough bAccounts b(PTAs).
b b b b b b b




D. bExchanging bColombian bpesos bon bthe bblack bmarket. b- b bcorrect banswer- bA.
b b b b b b b b b b b b




bPurchasing bstructured bmoney binstruments.
b b b b




1. bIn bgeneral, bthe bthree bphases bof bmoney blaundering bare bsaid bto bbe:
b b b b b b b b b b b b




bPlacement:
b




A. bStructuring band bmanipulation.
b b b

,B. bLayering band bintegration.
b b b




C. bLayering band bsmurfing.
b b b




D. bIntegration band binfiltration. b- b bcorrect banswer- bB. bLayering band bintegration.
b b b b b b b b b b b




1. bWhich bstatement bis btrue?
b b b b




A. bBust-out bschemes bare bpopular bin bcreating blarge bbankruptcy bfrauds bwhere
b b b b b b b b b b




bbusinesses bsecure bincreasing bloans bin bexcess bof bthe bactual bvalue bof bthe
b b b b b b b b b b b b




bcompany bor bproperty band bthen brun bwith bthe bmoney, bleaving bthe blender bto
b b b b b b b b b b b b b




bforeclose band btake ba bsubstantial bloss.
b b b b b b




B. bCuckoo bsmurfing bis ba bsignificant bmoney blaundering btechnique bidentified bby
b b b b b b b b b b




bthe bFinancial bAction bTask bForce, bwhere ba bform bof bstructuring buses bnested
b b b b b b b b b b b b




baccounts bwith bshell bbanks bin bsecrecy bhavens.
b b b b b b b




C. bIn bits b40 bRecommendations, bthe bFATF bissued ba blist bof b"designated
b b b b b b b b b b b




bcategories bof boffense" bthat basserts bcrimes bfor ba bmoney blaundering bprosecution.
b b b b b b b b b b b




D. bE-cash bis bnot battractive bto bthe bmoney blaunderer bbecause bit bcannot bbe
b b b b b b b b b b b b




bcompletely banonymous band bdoes bnot ballow bfor blarge bamounts bto bbe
b b b b b b b b b b b




b"transported" bquickly band beasily. b- b bcorrect banswer- bA. bBust-out bschemes bare
b b b b b b b b b b b b




bpopular bin bcreating blarge bbankruptcy bfrauds bwhere bbusinesses bsecure
b b b b b b b b b




bincreasing bloans bin bexcess bof bthe bactual bvalue bof bthe bcompany bor bproperty
b b b b b b b b b b b b b




band bthen brun bwith bthe bmoney, bleaving bthe blender bto bforeclose band btake ba
b b b b b b b b b b b b b b




bsubstantial bloss.
b b




1. bWhich bthree bof bthe bfollowing bis ban bindication bof bpossible bmoney blaundering
b b b b b b b b b b b b




bin ban binsurance bindustry bscenario?
b b b b b




A. bInsurance bproducts bsold bthrough bintermediaries, bagents bor bbrokers.
b b b b b b b b




B. bSingle-premium binsurance bbonds, bredeemed bat ba bdiscount.
b b b b b b b




C. bPolicyholders bwho bare bunconcerned babout bpenalties bfor bearly bcancellation.
b b b b b b b b b




D. bPolicyholders bwho bredeem bthe bpolicy bwithin bthe b"free blook" bperiod. b- b bcorrect
b b b b b b b b b b b b b




banswer- bB. bSingle-premium binsurance bbonds, bredeemed bat ba bdiscount.
b b b b b b b b b




C. bPolicyholders bwho bare bunconcerned babout bpenalties bfor bearly bcancellation.
b b b b b b b b b




D. bPolicyholders bwho bredeem bthe bpolicy bwithin bthe b"free blook" bperiod.
b b b b b b b b b b




1. bWhich btwo bactivities bare btypically bassociated bwith bthe bblack bmarket bpeso
b b b b b b b b b b b




bexchange b(BMPE) bmoney blaundering bsystem?
b b b b b




A. bConverting billicit bdrug bproceeds bfrom bdollars bor bEuros bto bColombian bpesos.
b b b b b b b b b b b

,B. bConverting billicit bdrug bproceeds bfrom bColombian bpesos bto bdollars bor bEuros.
b b b b b b b b b b b




C. bFacilitating bpurchases bby bColombian bimporters bof bgoods bmanufactured bin bthe
b b b b b b b b b b




bUnited bStates bor bEurope bthrough bpeso bbrokers.
b b b b b b b




D. bFacilitating bpurchases bby bEuropean bor bU.S. bimporters bof bgoods bmanufactured
b b b b b b b b b b




bin bColombia bthrough bpeso bbrokers. b- b bcorrect banswer- bD. bA brule bin bthe blaw bof
b b b b b b b b b b b b b b b b




ba bcountry ballowing bits bauthorities bto bcooperate bwith bauthorities bof bother
b b b b b b b b b b b




bcountries bto bthe bdegree bthat btheir blaw ballows bthem bto bdo bthe bsame.
b b b b b b b b b b b b b




1. bThe bgreatest brisk bfor bmoney blaundering bis bfor bcasinos bthat
b b b b b b b b b b




A. bProvide btheir bcustomers bwith ba bwide barray bof bgambling bservices.
b b b b b b b b b b




B. bOperate bin ba bnon-Egmont bmember bcountry.
b b b b b b




C. bAllow bcustomers bwith bcredit bbalances bto bwithdraw bfunds bby bcheck bin banother
b b b b b b b b b b b b




bjurisdiction.
b




D. bOnly bsend bsuspicious btransaction breports bto bthe bfinancial bintelligence bunit bof
b b b b b b b b b b b




bthe bcountry bit boperates bin. b- b bcorrect banswer- bC. bAllow bcustomers bwith bcredit
b b b b b b b b b b b b b b




bbalances bto bwithdraw bfunds bby bcheck bin banother bjurisdiction.
b b b b b b b b b




1. bWhich bstatement bis btrue bregarding bthe brisk bof bPolitically bExposed bPersons
b b b b b b b b b b b




b(PEPs)?
b




A. bPEPs bprovide baccess bto bthird bparties bon bwhom bthe bfinancial binstitution bhas
b b b b b b b b b b b b




bnot bconducted bsufficient bdue bdiligence.
b b b b b




B. bPEPs bhave bsignificantly bgreater bexposure bto bthe bpolitically bcorrupt bfunds,
b b b b b b b b b b




bincluding baccepting bbribes bor bmisappropriating bgovernment bfunds.
b b b b b b b




C. bPEPs bare bforeign bcustomers bwho binherently bpresent badditional brisk bas bthey
b b b b b b b b b b b




bare bengaged bin bcross- bborder btransactions.
b b b b b b




D. bPEPs bgenerally bdo bnot bpose benhanced brisks bto ban binstitution bdue bto btheir
b b b b b b b b b b b b b




bpolitical bstanding; brather, bPEPs bincrease bthe bprestige bof ban binstitution. b- b
b b b b b b b b b b b b




bcorrect banswer- bB. bPEPs bhave bsignificantly bgreater bexposure bto bthe bpolitically
b b b b b b b b b b b




bcorrupt bfunds, bincluding baccepting bbribes bor bmisappropriating bgovernment
b b b b b b b b




bfunds.
b




1. bIn b2014 bthe bWolfsberg bGroup bpublished btheir bAnti-Money bLaundering
b b b b b b b b b




bPrinciples bfor bCorrespondent bBanking. bWhich bthree bof bthe bfollowing belements
b b b b b b b b b b




bare brecommended bto bbe bincluded bin bthe bdue bdiligence bof ba bCorrespondent
b b b b b b b b b b b b




bBanking bclient?
b b




A. bThe bgeographic brisk.
b b b




B. bThe bownership band bmanagement bstructure
b b b b b

, C. bThe bresume bof bthe bCompliance bOfficer
b b b b b b




D. bThe bcustomer bbase. b- b bcorrect banswer- bA. bThe bgeographic brisk.
b b b b b b b b b b b




B. bThe bownership band bmanagement bstructure
b b b b b




D. bThe bcustomer bbase.
b b b




1. bA bnew bcustomer bapproaches ba bbank bto bopen ba bcommercial baccount. bThe
b b b b b b b b b b b b




bcustomer bprovides ban baddress bfor bthe baccount blocated bacross bthe bcity bfrom
b b b b b b b b b b b b




bthe bbranch. bWhen basked bby bthe baccount brepresentative bif bthe bcustomer
b b b b b b b b b b b




brequires bany badditional bbanking bservices, bthe bcustomer bresponds bshe bis balso
b b b b b b b b b b b




binterested bin bopening ba bpersonal binvestment baccount. bThe baccount
b b b b b b b b b




brepresentative brefers bthe bcustomer bto btheir bbroker- bdealer. bThe bcustomer btells
b b b b b b b b b b b




bthe bfirm brepresentative bshe bhas bnever bhad ba bbrokerage baccount bbefore band
b b b b b b b b b b b b




bhas ba bfew bquestions babout bhow ban binvestment baccount bworks. bThe bcustomer
b b b b b b b b b b b b




basks bhow bdeposits bcan bbe bmade binto bher baccount, bif bthere bare bany breporting
b b b b b b b b b b b b b b




brequirements, band bhow bto bgo babout bmoving bbalances bout bof bthe baccount busing
b b b b b b b b b b b b b




bwire btransfers. bNo bquestions bare basked babout bfees bassociated bwith bthese
b b b b b b b b b b b




btransactions. bWhich bthree bitems bwould bbe bconsidered bsuspicious?
b b b b b b b b




A. bThe bcustomer basks bmany bquestions babout bthe bbrokerage baccount, b- b bcorrect
b b b b b b b b b b b b




banswer- bA. bThe bcustomer basks bmany bquestions babout bthe bbrokerage baccount,
b b b b b b b b b b b




bbut bnone bof bthem bare brelated bto binvesting.
b b b b b b b b




C. bThe baddress bof bthe baccount bholder band bthe bbranch bwhere bthe bcustomer
b b b b b b b b b b b b




bcame bto bopen bthe baccount bare bnot bclose bto beach bother.
b b b b b b b b b b b




D. bThat bthe bcustomer bappears bunconcerned babout bthe bfees.
b b b b b b b b




1. bTrade bBased bMoney bLaundering brequires bthe bability bto:
b b b b b b b b




A. bOver- bor bunder-invoice bthe bgoods.
b b b b b




B. bSell bthe bimported bgoods bfor bas blittle bas bpossible.
b b b b b b b b b




C. bUse bgoods bthat bdo bnot bneed bto bbe bdeclared.
b b b b b b b b b




D. bAvoid bthe buse bof bhigh-value bassets bsuch bas bluxury bcars bor bboats. b- b bcorrect
b b b b b b b b b b b b b b b




banswer- bA. bOver- bor bunder-invoice bthe bgoods.
b b b b b b b




1. bWhich bof bthe bfollowing bstatements bis btrue? bCorrespondent bbanking bis bMOST
b b b b b b b b b b b




bvulnerable bto bmoney blaundering bwhen bthe bcorrespondent baccount bis:
b b b b b b b b b




A. bMaintained bfor bforeign bfinancial binstitutions bthat bare bbanks.
b b b b b b b b




B. bNot bused bto bprovide bservices bdirectly bto bthird bparties.
b b b b b b b b b




C. bMaintained bfor ba bforeign bbank bthat bdoes bnot bhave ba bphysical bpresence bin
b b b b b b b b b b b b b




bany bcountry.
b b