ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 33 • ExamPrepare

308 questions in this view

Page 33 of 52

Question 193

Which statement best describes a key aspect of the AML Directive of the EU regarding business relationships and transactions with high-risk third countries?

Obliged entities should voluntarily consider the implementation of increased external audit requirements for branches and subsidiaries located in high-risk countries.
Obliged entities should implement additional mitigating measures complementary to the enhanced customer due diligence procedures, in accordance with a risk-based approach.
Obliged entities should not take into account specific circumstances when performing enhanced due diligence measures.
Obliged entities, in accordance with the member state regulations, should determine at a national level the measures that can be used for enhanced due diligence.

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 194

Which constitute red flags in connection with a company involved in illegal logging? (Select Three.)

Business registry activities state promotion of environmental protection
Executive’s association with politically exposed persons
High number of transactions through company's connected bank accounts
Expeditious shipment of wood to far away jurisdictions
Use of heavy machinery in non-protected areas
Paper packaging demand production

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 195

Three individuals enter a casino and use cash to purchase chips worth 20,000 USD. The trio uses 200 USD in chips to play games and then combine their funds to request a casino cheque. What is the potential red flag that alludes to money laundering?

The trio purchased the chips with cash and proceeded to gamble.
The trio purchased chips worth 20,000 USD and requested a casino cheque for the remaining chips.
The trio engage in minimal gambling and combine the funds to request a casino cheque for the chips presented.
The trio uses chips worth 200 USD to gamble before requesting the refund.

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 196

Which is the most severe consequence for a financial institution if the regulator finds it is in breach of AML regulatory obligations?

Negative reputation
Loss of license
Civil sanctions
Monetary fines

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 197

A precious metals dealer opens a new account with a bank. Which requires a referral to AML investigations for further review?

International outgoing wires to diamond dealers that are part of the diamond pipeline
Multiple daily point of sale transactions from third parties that appear to be individuals
International incoming payments from foreign companies in which the precious metals dealer has an established relationship
Payments on the account reference unknown companies from high-risk jurisdictions

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Question 198

Which activities conducted by a lawyer could be a red flag for money laundering? (Select Two.)

The lawyer worked unusual hours to perform case duties.
The lawyer spent two days working a case.
The lawyer does not document case notes for the services provided.
The lawyer was paid substantially higher than usual fees.
The lawyer does not have experience in providing the particular services requested.

Select an answer above, then submit your vote. Reading or practicing does not cast a vote.

Certified Anti-Money Laundering Specialist Practice Questions

Question 193

Question 194

Question 195

Question 196

Question 197

Question 198