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ACAMS Practice Test (Book) 100 Q&A/ Already Graded A+.

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ACAMS Practice Test (Book) 100 Q&A/ Already Graded A+. Which of the following is the most common method of laundering money through a legal money services business? - Answer: Purchasing structured money instruments In general, the 3 phases of money laundering are said to be: Placement; - Answer: Layering and integration Which statement is true? - Answer: Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure increasing loans in excess of the actual value of the company or property and then run with the money. Leaving the lender to foreclose and take a substantial loss Which 3 of the following is an indication of possible money laundering in an insurance industry scenario? - Answer: -Single-premium insurance bonds, redeemed at a discount -Policyholders who are unconcerned about penalties for early cancellation -Policyholders who make full use of the "free look" period

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Nebraska MPJE/ 176 Questions with Definitive
Solutions.
What legistation was created for the provisions for the fast track review of some
NDA submissions to expedite approval of new drugs used to treat life-threatening
conditions? - Answer: Food and Drug Administration (FDA) Modernization Act
1997


What legistation encouraged manufacturers to conduct research for new uses of
drugs and to submit SNDAs for these uses? - Answer: FDA modernization act 1997


What act reduced the cose of orphan drugs? - Answer: Orphan drug act 1983


What act prohibited the adulteration or misbranding of food and drugs? - Answer:
Pure Food and Drug Act 1906



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,What act required tha active ingredients be placed on the label of a drug's
packaging and that drugs couldn't fall below purity levels established by the USP
or National Formulary? - Answer: Pure food and drug act 1906


What amendment defined two categories - legend and OTC - Answer: Durham-
humphrey 1951


What amendment mandated there must be "adequate directions for use" on the
manufacturer's label for OTC's - Answer: Durham-Humphrey 1951


What amendment declared that all new drugs marketed in the U.S. had to be
shown to be safe and effective - Answer: Kefauver-Harris 1962


What act was passed to correct the problem of diversion from the normal
distribution channels. Prohibits drug from being re-imported into the U.S. Except
by the manufacturer of said drugs. - Answer: Prescription Drug Marketing Act
1987


What act requires proper storage of drugs and maintenance of appropriate
distribution records? - Answer: Prescription Drug Marketing Act 1987


What act prohibits sale, purchase, or trade of any drug which was purchased by a
public or private hospital or other health care entity? - Answer: Prescription Drug
Marketing Act 1987



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, What act prohibits the sale, purchase, or trade of any drug sample or drug coupon
redeemable for a drug product? - Answer: Prescription Drug Marketing Act 1987


To be PIC what are the hourly requirements they must physically work in a
pharmacy? - Answer: majority of the hours per week that the pharmacy is open
averaged over a 12 - month period or 30 hours per week


Who must submit the Pharmacy Quality Assurance Report and when? - Answer:
PIC and Annually


Who submits the Parkinson's Disease Registry Act to the Department
semiannually? - Answer: PIC


Who needs to be notified if there's a change in pharmacy ownersip, address, PIC,
or pharmacy closes? - Answer: Department of Health and Human Services


Within how many days should the department be notified that a pharmacy is
closing? - Answer: 30 days prior


Within how many days should the department be notified of the disposition/sale
of inventory, prescription records, etc due to pharmacy closing? - Answer: 15 days


When shold the department be notified of a change in PIC? - Answer:
Immediately



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