ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 39 • ExamPrepare

308 questions in this view

Page 39 of 52

Question 229

How should a compliance program respond to an AML audit finding?

By giving recommendations for each finding as part of an audit report
By using the findings to identify and assess their money laundering risk
By nominating an independent party to implement the corrective action
By closing the accounts that were subject to findings

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Question 230

Which is a key goal of the EU's Directives on money laundering?

Build a network of financial institutions that work together to prevent money laundering across the EU.
Address control of payments in EU countries to reduce money laundering.
Allow member states to discuss the draft legislation with the cooperation of the EU financial intelligence units.
Establish a consistent regulatory environment across the EU to prevent money laundering.

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Question 231

Which economic and social factors could create a dependency on illicit activities and money laundering? (Select Two.)

Wider exposure to organized crime and corruption
Weakness of public service and governmental funding
Weakness of private sector legitimacy
Weaker financial inclusion
Weaker development of economy and job opportunities

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Question 232

What is an aspect of the USA PATRIOT Act that has extraterritorial reach?

To implement economic and trade sanctions based on US foreign policy
To require scrutiny of foreign financial institutions and classes of international transactions that are susceptible to criminal abuse
To mandate stricter money laundering controls across the continent
To strengthen US measures to prevent, detect, and prosecute international money laundering and financing of terrorism

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Question 233

A customer has borrowed the cash surrender value of their life insurance policies. Which requires a further investigation and filing of the suspicious activity report?

The customer has paid the monthly life insurance policy premiums with cash.
The customer uses multiple currency equivalents from different sources to pay the monthly life insurance policy premiums.
The customer directs the payment of the money borrowed to an unrelated third party.
The customer cancels the insurance contract without concern for the penalties after the money is borrowed.

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Question 234

Which product type is subject to US extra-jurisdictional reach over non-US banks and non-US persons under the USA PATRIOT Act?

Private banking
Correspondent banking
Trade finance
Commercial lending

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Certified Anti-Money Laundering Specialist Practice Questions

Question 229

Question 230

Question 231

Question 232

Question 233

Question 234