1|Page
Certified AML and Fraud Professional (CAFP) Exam
ACTUAL VERIFIED EXAM COMPLETE QUESTIONS
AND CORRECT ANSWERS LATEST UPDATE THIS
YEAR||NEWEST EXAM!!!
The CTR exemption process divides businesses into two
categories, Phase I and Phase II. Which type of entity
would be eligible for a Phase I exemption? - Answer-
Starbucks Express, a subsidiary of Starbucks.
A domestic correspondent account is an account
__________. - Answer-Held by one domestic bank with
another domestic bank.
Which international partner in the AML network provides a
forum for FIUs to improve international AML/CFT
cooperation and to promote the implementation of
domestic programs in this field? - Answer-Egmont Group
of Financial Intelligence Units.
The following two organizations specialize in conducting
assessments for countries to ascertain compliance with
the FATF Recommendations: - Answer-• International
Monetary Fund (IMF),The World Bank.
,2|Page
the following two international organizations focus on
counteracting transnational illicit drugs, crime, and
terrorism: - Answer-•Organization for Economic Co-
operation and Development (OECD)
•United Nations Office on Drug and Crime (UNODC).
Which two organizations provide technical assistance to
member countries for the assessment of their compliance
with the international standard as contained in the FATF
Recommendations? - Answer-International Monetary Fund
(IMF) and The World Bank (Financial Market Integrity
Group).
Which three options identify aims of the UNODC work
program? - Answer-Assist with increasing specialized
expertise and skills of criminal justice officials, Enhance
international and regional cooperation in combating the
financing of terrorism through information exchange and
mutual legal assistance, Strengthen legal, financial and
operational capacities to deal effectively with money-
laundering and the financing of terrorism.
,3|Page
Among the international partners in AML, which two
organizations focus primarily on tax and anti-money
laundering practices and fighting transnational crimes,
including illicit drugs, crime and terrorism? - Answer-
OECD, (UNODC).
IMF? - Answer-focuses on AML/CFT technical assistance
and the assessment of member countries' compliance with
the FATF Recommendations.
Egmont Group? - Answer-primary role is to promote the
development of FIUs and facilitate their cooperation in the
areas of information exchange, training, and the sharing of
expertise.
What entities comprise the Basel Committee on Banking
Supervision? - Answer-Central banks.
Which international organization focuses its anti-money
laundering (AML) efforts primarily on customer due
diligence? - Answer-The Basel Committee on Banking
Supervision.
, 4|Page
In what way did the Financial Action Task Force (FATF)
methodology for conducting mutual evaluations change in
2012? - Answer-FATF now adds an effectiveness
assessment as a new component.
What option describes what makes pouch activity MOST
vulnerable to money laundering? - Answer-They enable
money launderers to structure using monetary
instruments.
Which option describes why U.S. dollar drafts are MOST
vulnerable to money laundering? - Answer-They make it
easy for the money launderer to conceal the source of
funds once the illicit funds are no longer in cash form.
How do bulk cash shipments occur? - Answer-Between
two banks even when the receiving bank does not take
physical possession of the currency and the currency goes
to the Federal Reserve.
Which parties may be involved in bulk cash shipments? -
Answer-The shipper, the common carrier, and the
consignee.
Certified AML and Fraud Professional (CAFP) Exam
ACTUAL VERIFIED EXAM COMPLETE QUESTIONS
AND CORRECT ANSWERS LATEST UPDATE THIS
YEAR||NEWEST EXAM!!!
The CTR exemption process divides businesses into two
categories, Phase I and Phase II. Which type of entity
would be eligible for a Phase I exemption? - Answer-
Starbucks Express, a subsidiary of Starbucks.
A domestic correspondent account is an account
__________. - Answer-Held by one domestic bank with
another domestic bank.
Which international partner in the AML network provides a
forum for FIUs to improve international AML/CFT
cooperation and to promote the implementation of
domestic programs in this field? - Answer-Egmont Group
of Financial Intelligence Units.
The following two organizations specialize in conducting
assessments for countries to ascertain compliance with
the FATF Recommendations: - Answer-• International
Monetary Fund (IMF),The World Bank.
,2|Page
the following two international organizations focus on
counteracting transnational illicit drugs, crime, and
terrorism: - Answer-•Organization for Economic Co-
operation and Development (OECD)
•United Nations Office on Drug and Crime (UNODC).
Which two organizations provide technical assistance to
member countries for the assessment of their compliance
with the international standard as contained in the FATF
Recommendations? - Answer-International Monetary Fund
(IMF) and The World Bank (Financial Market Integrity
Group).
Which three options identify aims of the UNODC work
program? - Answer-Assist with increasing specialized
expertise and skills of criminal justice officials, Enhance
international and regional cooperation in combating the
financing of terrorism through information exchange and
mutual legal assistance, Strengthen legal, financial and
operational capacities to deal effectively with money-
laundering and the financing of terrorism.
,3|Page
Among the international partners in AML, which two
organizations focus primarily on tax and anti-money
laundering practices and fighting transnational crimes,
including illicit drugs, crime and terrorism? - Answer-
OECD, (UNODC).
IMF? - Answer-focuses on AML/CFT technical assistance
and the assessment of member countries' compliance with
the FATF Recommendations.
Egmont Group? - Answer-primary role is to promote the
development of FIUs and facilitate their cooperation in the
areas of information exchange, training, and the sharing of
expertise.
What entities comprise the Basel Committee on Banking
Supervision? - Answer-Central banks.
Which international organization focuses its anti-money
laundering (AML) efforts primarily on customer due
diligence? - Answer-The Basel Committee on Banking
Supervision.
, 4|Page
In what way did the Financial Action Task Force (FATF)
methodology for conducting mutual evaluations change in
2012? - Answer-FATF now adds an effectiveness
assessment as a new component.
What option describes what makes pouch activity MOST
vulnerable to money laundering? - Answer-They enable
money launderers to structure using monetary
instruments.
Which option describes why U.S. dollar drafts are MOST
vulnerable to money laundering? - Answer-They make it
easy for the money launderer to conceal the source of
funds once the illicit funds are no longer in cash form.
How do bulk cash shipments occur? - Answer-Between
two banks even when the receiving bank does not take
physical possession of the currency and the currency goes
to the Federal Reserve.
Which parties may be involved in bulk cash shipments? -
Answer-The shipper, the common carrier, and the
consignee.
