ACAMS PRACTICE EXAM BANK 2026 | ACTUAL AND
CURRENTLY TESTING EXAM VERSIONS WITH VERIFIED
ANSWERS| EXPERT VERIFIED FOR GUARANTEED PASS |
LATEST UPDATE |
The Third EU Money Laundering Directive of 2005 applies to which of the
following rms?
A. Auditors, estate agents based in the EU.
B. U.S. Financial institutions covered by the USA
Patriot Act.
C. Shell rms inside and outside the EU.
D. EU based high value good dealers who deal in cash of 10,000 Euro or more. -
CORRECT ANSWER ✔✔- A
According to the EU Directives of 2001, an independent legal professional is
obligated to report suspicion of money laundering in a client relationship when:
A. Representing a client in a legal matter.
B. Ascertaining the legal position for a client.
C. Participating in nancial or corporate transactions.
D. Obtaining information associated with a judicial proceeding. - CORRECT
ANSWER ✔✔- C
Which of the following is the most dif cult regulatory challenge facing a foreign
nancial institution with a correspondent banking relationship in the U.S.?
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,A. USA Patriot Act.
B. Basel Due Diligence Principles for Banks.
C. FATF Guidance on Terrorist Financing.
D. UN Security Council Resolution on Correspondent Banking. - CORRECT ANSWER
✔✔- A
Which were the Basel Committee's two main motivations to encourage strong
Know Your Customer programs in its paper "Customer Due Diligence for Banks?"
A. A.Mirror FATF's KYC Recommendations.
B. Meet European Union guidelines.
C. Protect the safety and soundness of banks.
D. Protect the integrity of banking systems. - CORRECT ANSWER ✔✔- CD
What is the de nition of a predicate offense?
A. Lawful or unlawful activity that involves willful blindness, and if there is an
international element to the crime, can lead to a suspicious activity report.
B. Unlawful activity whose proceeds, if involved in the transaction, can give rise to
prosecution for the crime of money laundering.
C. An interface which is the underlying segment of a suspicious transaction
monitoring system.
D. A speci ed unlawful activity that is committed through concentration accounts
deceiving customers that are not directly related to the account. - CORRECT
ANSWER ✔✔- B
What is considered a bene cial owner of an account? A person or entity:
A. That has direct signatory authority over an account, and whose name appears
on the account.
2|Page
,B. That is ultimately entitled to the funds in the account, even though his name
may not appear on the account.
C. That is the originator and the destination of most (but not all) transactions
conducted within the account, but who does not ultimately control such funds.
D. That is a gatekeeper, has the legal title to the account, and typically transfers
the funds to a trust. - CORRECT ANSWER ✔✔- B
A bank in Italy holds a business account for an Italian company that sells gold
throughout Europe and the Western Hemisphere. The bank knows the purpose of
this account is to receive payment for sales. A review
of the account shows a pattern of wire transfers coming from payable-through
accounts. There is also a pattern of purchases of gold bullion held in Swiss banks.
The MOST important factor in assessing whether money laundering is a threat is
that the:
A. Customer sells gold in regions where it carries an important or religious signi
cance that adds to the high intrinsic value.
B. Payments come from third-party accounts.
C. Payments received are in the form of wire transfers instead of cash.
D. Account holder maintains gold bullion rather than nished pieces of jewelry. -
CORRECT ANSWER ✔✔- B
Which of the following should a national legislature consider when criminalizing
money laundering in line with the CFATF 19 Recommendations (choose three)?
A. Do not limit the number of speci c predicate offenses for money laundering.
B. Criminalize conspiracy or association to engage in money laundering.
C. Indicate whether it is relevant that a predicate offense may have been
committed outside the local jurisdiction.
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, D. Require money laundering offenses to prove that the offender has actual
knowledge of a criminal connection to the funds. - CORRECT ANSWER ✔✔- ABC
Which three statements are true about the 3rd EU Directive on Money
Laundering of 2005? It:
A. A.Was proposed in order to update European Community legislation in line
with the Financial Action Task Force (FATF) 40 Recommendations.
B. Largely replicates the de nitions included in the Second Directive, including the
de nition of a politically exposed person.
C. Repeats the main customer due diligence requirements of the rst and second
Directives, but adds more detail to the requirements by, for example, including a
speci c requirement to identify the bene cial owner if one exists and includes
ongoing monitoring requirements.
D. Requires rms to apply the customer due diligence requirements to existing
customers at appropriate times on a risk sensitive basis. - CORRECT ANSWER ✔✔-
ACD
The FATF 40 Recommendations say that countries should:
A. Not allow bearer shares and legal persons that are able to issue bearer shares.
B. Gather statistics on STRs; prosecutions and convictions; on property frozen,
seized and con scated; and on mutual legal assistance, but not necessarily on
other international requests for co- operation.
C. Consider the feasibility of a system where banks and other nancial institutions
and intermediaries would report currency transactions without indicating a
minimum xed amount.
D. Not approve the establishment or accept the continued operation of shell
banks. - CORRECT ANSWER ✔✔- D
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CURRENTLY TESTING EXAM VERSIONS WITH VERIFIED
ANSWERS| EXPERT VERIFIED FOR GUARANTEED PASS |
LATEST UPDATE |
The Third EU Money Laundering Directive of 2005 applies to which of the
following rms?
A. Auditors, estate agents based in the EU.
B. U.S. Financial institutions covered by the USA
Patriot Act.
C. Shell rms inside and outside the EU.
D. EU based high value good dealers who deal in cash of 10,000 Euro or more. -
CORRECT ANSWER ✔✔- A
According to the EU Directives of 2001, an independent legal professional is
obligated to report suspicion of money laundering in a client relationship when:
A. Representing a client in a legal matter.
B. Ascertaining the legal position for a client.
C. Participating in nancial or corporate transactions.
D. Obtaining information associated with a judicial proceeding. - CORRECT
ANSWER ✔✔- C
Which of the following is the most dif cult regulatory challenge facing a foreign
nancial institution with a correspondent banking relationship in the U.S.?
1|Page
,A. USA Patriot Act.
B. Basel Due Diligence Principles for Banks.
C. FATF Guidance on Terrorist Financing.
D. UN Security Council Resolution on Correspondent Banking. - CORRECT ANSWER
✔✔- A
Which were the Basel Committee's two main motivations to encourage strong
Know Your Customer programs in its paper "Customer Due Diligence for Banks?"
A. A.Mirror FATF's KYC Recommendations.
B. Meet European Union guidelines.
C. Protect the safety and soundness of banks.
D. Protect the integrity of banking systems. - CORRECT ANSWER ✔✔- CD
What is the de nition of a predicate offense?
A. Lawful or unlawful activity that involves willful blindness, and if there is an
international element to the crime, can lead to a suspicious activity report.
B. Unlawful activity whose proceeds, if involved in the transaction, can give rise to
prosecution for the crime of money laundering.
C. An interface which is the underlying segment of a suspicious transaction
monitoring system.
D. A speci ed unlawful activity that is committed through concentration accounts
deceiving customers that are not directly related to the account. - CORRECT
ANSWER ✔✔- B
What is considered a bene cial owner of an account? A person or entity:
A. That has direct signatory authority over an account, and whose name appears
on the account.
2|Page
,B. That is ultimately entitled to the funds in the account, even though his name
may not appear on the account.
C. That is the originator and the destination of most (but not all) transactions
conducted within the account, but who does not ultimately control such funds.
D. That is a gatekeeper, has the legal title to the account, and typically transfers
the funds to a trust. - CORRECT ANSWER ✔✔- B
A bank in Italy holds a business account for an Italian company that sells gold
throughout Europe and the Western Hemisphere. The bank knows the purpose of
this account is to receive payment for sales. A review
of the account shows a pattern of wire transfers coming from payable-through
accounts. There is also a pattern of purchases of gold bullion held in Swiss banks.
The MOST important factor in assessing whether money laundering is a threat is
that the:
A. Customer sells gold in regions where it carries an important or religious signi
cance that adds to the high intrinsic value.
B. Payments come from third-party accounts.
C. Payments received are in the form of wire transfers instead of cash.
D. Account holder maintains gold bullion rather than nished pieces of jewelry. -
CORRECT ANSWER ✔✔- B
Which of the following should a national legislature consider when criminalizing
money laundering in line with the CFATF 19 Recommendations (choose three)?
A. Do not limit the number of speci c predicate offenses for money laundering.
B. Criminalize conspiracy or association to engage in money laundering.
C. Indicate whether it is relevant that a predicate offense may have been
committed outside the local jurisdiction.
3|Page
, D. Require money laundering offenses to prove that the offender has actual
knowledge of a criminal connection to the funds. - CORRECT ANSWER ✔✔- ABC
Which three statements are true about the 3rd EU Directive on Money
Laundering of 2005? It:
A. A.Was proposed in order to update European Community legislation in line
with the Financial Action Task Force (FATF) 40 Recommendations.
B. Largely replicates the de nitions included in the Second Directive, including the
de nition of a politically exposed person.
C. Repeats the main customer due diligence requirements of the rst and second
Directives, but adds more detail to the requirements by, for example, including a
speci c requirement to identify the bene cial owner if one exists and includes
ongoing monitoring requirements.
D. Requires rms to apply the customer due diligence requirements to existing
customers at appropriate times on a risk sensitive basis. - CORRECT ANSWER ✔✔-
ACD
The FATF 40 Recommendations say that countries should:
A. Not allow bearer shares and legal persons that are able to issue bearer shares.
B. Gather statistics on STRs; prosecutions and convictions; on property frozen,
seized and con scated; and on mutual legal assistance, but not necessarily on
other international requests for co- operation.
C. Consider the feasibility of a system where banks and other nancial institutions
and intermediaries would report currency transactions without indicating a
minimum xed amount.
D. Not approve the establishment or accept the continued operation of shell
banks. - CORRECT ANSWER ✔✔- D
4|Page
