ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 19 • ExamPrepare

308 questions in this view

Page 19 of 52

Question 109

Which of the following methods are commonly associated with money laundering schemes? (Select Three.)

Using a family member as an ultimate beneficial owner (UBO) to conceal the true beneficial owner
Engaging in the purchase or sale of professional sports teams
Using organized online poker games with multiple accounts to transfer illicit funds
Fabricating ownership documents for artwork and staging fake resale transactions
Involvement in the purchase or sale of horse farms

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Question 110

Which of the following are sound practices for mitigating the threat from high-risk business clients? (Select Two.)

One-time collection of beneficial ownership information
Only open business accounts for previously existing customers
Conduct periodic on-site visits of business location
Conduct interviews with the business’ management at onboarding phase
Comparison between expected activity and actual activity

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Question 111

The Financial Action Task Force (FATF) leads global action to address issues involving money laundering, terrorist financing, and:

economic inequality.
ecological degradation.
proliferation financing.
transnational cyber-crime.

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Question 112

Which key financial crime risks do traditional money remitters and currency exchange providers face that are inherent to their business models? (Select Two.)

Typically lower transaction values
Significant use of cash
Worldwide reach of transactions
Relatively minimal customer identification requirements
Complex transactions

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Question 113

Retrospective or post-event monitoring may be more effective in which of the following cases? (Select Two.)

Payments initiated from an IP address other than the one normally used by the customer
Monitoring of specific scenarios, such as high value transactions compared to similar customers in a peer group
Using scenarios to identify deviations from the normal activities of a customer
Using scenarios and keywords to identify terrorist financing
To identify situations where customers seek to avoid providing documentation

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Question 114

A wealthy individual is using a complex corporate structure to facilitate illegal logging and then illegal mining of the resulting resources from that land.

Which category of predicate crime is taking place?

Trade-based money laundering
Environmental crime
Corruption
Illicit resource trade

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Certified Anti-Money Laundering Specialist Practice Questions

Question 109

Question 110

Question 111

Question 112

Question 113

Question 114