AML Test Questions WITH CORRECT ANSWERS LATEST UPDATE 2025
Terms in this set (34)
1. Material false statement
2. Knowledge that statement is false
What are the four elements of fraud?
3. Reliance on false statement
4. Financial loss
What is the distinct difference Financial loss
between a fraud and an
attempted fraud?
What is the process of making Money laundering
illegally obtained proceeds
appear legal?
What two financial statements are Balance sheet & Income statement
usually provided by a business to a
financial institution when trying to
secure a business loan?
What is a financial statement Balance sheet
that summarizes a company's
assets, liabilities (what you own
and what you owe) plus the net
worth at a specific point in
time?
What is a financial statement that Income statement
reports a company's revenue and
expenses and
profit/loss over a specific period of
time?
What is a division of the United FINCEN (Financial Crimes Enforcement Network)
States Treasury Department whose
goal is to
prevent and punish criminals and
criminal networks that participate
in money
laundering?
What is a report that US CTR (Currency Transaction Report)
financial institutions are required
to file for each deposit,
, withdrawal or exchange of
currency in excess of $10,000?
What is a report that financial SAR (Suspicious Activity Report)
institutions must file following a
suspected incident of money
laundering, fraud or other
violation of the law?
What is a form that needs to be filed Form 8300
by any person in a trade or business
who receives more than $10,000 in
cash in a single
transaction or related transactions?
What is the central bank of the The Federal Reserve
United States, founded in 1913 to
provide the nation with a safe,
flexible and stable monetary and
financial system?
Who was the New York City hedge Bernie Madoff
fund manager who was arrested in
2008 and
subsequently plead guilty and
sentenced to 150 years in prison
for operating the
largest Ponzi scheme in financial
history?
Name the worlds largest anti-fraud ACFE (Association of Certified Fraud Examiners)
organization and premier provider of
anti- fraud training and education.
Name the largest international ACAMS (Association of Certified Anti-Money Laundering Specialists)
membership organization
dedicated to enhancing the
knowledge, skills and expertise
of
AML/CTF and financial crime
detection and prevention
professionals.
Terms in this set (34)
1. Material false statement
2. Knowledge that statement is false
What are the four elements of fraud?
3. Reliance on false statement
4. Financial loss
What is the distinct difference Financial loss
between a fraud and an
attempted fraud?
What is the process of making Money laundering
illegally obtained proceeds
appear legal?
What two financial statements are Balance sheet & Income statement
usually provided by a business to a
financial institution when trying to
secure a business loan?
What is a financial statement Balance sheet
that summarizes a company's
assets, liabilities (what you own
and what you owe) plus the net
worth at a specific point in
time?
What is a financial statement that Income statement
reports a company's revenue and
expenses and
profit/loss over a specific period of
time?
What is a division of the United FINCEN (Financial Crimes Enforcement Network)
States Treasury Department whose
goal is to
prevent and punish criminals and
criminal networks that participate
in money
laundering?
What is a report that US CTR (Currency Transaction Report)
financial institutions are required
to file for each deposit,
, withdrawal or exchange of
currency in excess of $10,000?
What is a report that financial SAR (Suspicious Activity Report)
institutions must file following a
suspected incident of money
laundering, fraud or other
violation of the law?
What is a form that needs to be filed Form 8300
by any person in a trade or business
who receives more than $10,000 in
cash in a single
transaction or related transactions?
What is the central bank of the The Federal Reserve
United States, founded in 1913 to
provide the nation with a safe,
flexible and stable monetary and
financial system?
Who was the New York City hedge Bernie Madoff
fund manager who was arrested in
2008 and
subsequently plead guilty and
sentenced to 150 years in prison
for operating the
largest Ponzi scheme in financial
history?
Name the worlds largest anti-fraud ACFE (Association of Certified Fraud Examiners)
organization and premier provider of
anti- fraud training and education.
Name the largest international ACAMS (Association of Certified Anti-Money Laundering Specialists)
membership organization
dedicated to enhancing the
knowledge, skills and expertise
of
AML/CTF and financial crime
detection and prevention
professionals.
