ACAMS Practice Questions | Strategies Review of
Key Quizzes || Most Recent Exam 2026-2027 Actual
Complete Real Exam Questions And Correct Answers
(Expertly Verified Answers) Already Graded A+ |
Guaranteed Success!! Newest Exam | Just Released!!
Most money laundering activity that takes place utilizing the
credit card industry
is normally involved with which
stages?
1. Placement and
Layering 2. Layering
and Integration
3. Placement and Integration
4. Placement, Layering and Integration - ANSWER-2
In which of the following ways can money laundering occur in
travel agencies?
I Sending a tour group to a country and making an
offsetting payment into a foreign entity's US or other account
while instructing the accountholder to cover the cost of the
group's trip.
II Arranging complex payment or invoicing for customers,
thereby structuring cash payments to avoid currency reporting.
,III Purchasing an expensive airline ticket for another person,
who then asks for a refund.
1. All of the above
2. I and II
3. I and III
4. II and III - ANSWER-1
One of the steps in developing an AML program is the
assessing of risk. Which
of the following banking functions are
considered high risk?
I Letters of Credit
II Payable-Through Accounts (PTAs)
III Official Bank Checks
IV Private Banking
V Wire Transfer Services
VI Check Cashing for Non-Customers
1. All of the above
2. All, but I and III
3. All, but II and IV
4. All, but V and VI - ANSWER-1
Which of the following would be true in an AML program?
I The Board has the ultimate responsibility of the program,
must openly voice their commitment to the program, and
, ensure their commitment flows through the entire
organization.
II The Board should be responsible for the oversight of the
program.
III The Board should routinely converse with regulators and
auditors about their commitment to the program, their
understanding of the law, and knowledge of how their
institution operates.
IV The Board is responsible for ensuring that corrective
action is taken for all program shortcomings identified by
regulator or auditor examination.
1. All of the above
2. I and II
3. III and IV
4. None of the above. They are all the responsibility of the
Designated
Compliance Officer. - ANSWER-1
According to the Basel Committee, examples of Politically
Exposed Persons
include:
I Heads of state or of
government
II Senior politicians, senior government and
judicial officials
, III A-list celebrity actors and
superstar athletes
IV Senior military
officials
V Important political party
officials
VI Senior executives of publicly owned
corporations
VII Former heads of state or government (12+ years
removed from power)
1. All of the above
2. All, but III and VII
3. All, but II and V
4. Only I, II and V - ANSWER-2
While the laws are loosening across the globe as to how much
information law enforcement agencies have access to in their
money laundering investigations, there are still some
restrictions in offshore havens which have strict bank secrecy
laws. However, financial institutions...
1. must not provide financial records if their corporate charter
does not permit it. 2. must provide financial records if they are
legally compelled to do so by subpoena, summons, or court
order.
3. must provide financial records only if their corporate
charter and local laws permit it.
Key Quizzes || Most Recent Exam 2026-2027 Actual
Complete Real Exam Questions And Correct Answers
(Expertly Verified Answers) Already Graded A+ |
Guaranteed Success!! Newest Exam | Just Released!!
Most money laundering activity that takes place utilizing the
credit card industry
is normally involved with which
stages?
1. Placement and
Layering 2. Layering
and Integration
3. Placement and Integration
4. Placement, Layering and Integration - ANSWER-2
In which of the following ways can money laundering occur in
travel agencies?
I Sending a tour group to a country and making an
offsetting payment into a foreign entity's US or other account
while instructing the accountholder to cover the cost of the
group's trip.
II Arranging complex payment or invoicing for customers,
thereby structuring cash payments to avoid currency reporting.
,III Purchasing an expensive airline ticket for another person,
who then asks for a refund.
1. All of the above
2. I and II
3. I and III
4. II and III - ANSWER-1
One of the steps in developing an AML program is the
assessing of risk. Which
of the following banking functions are
considered high risk?
I Letters of Credit
II Payable-Through Accounts (PTAs)
III Official Bank Checks
IV Private Banking
V Wire Transfer Services
VI Check Cashing for Non-Customers
1. All of the above
2. All, but I and III
3. All, but II and IV
4. All, but V and VI - ANSWER-1
Which of the following would be true in an AML program?
I The Board has the ultimate responsibility of the program,
must openly voice their commitment to the program, and
, ensure their commitment flows through the entire
organization.
II The Board should be responsible for the oversight of the
program.
III The Board should routinely converse with regulators and
auditors about their commitment to the program, their
understanding of the law, and knowledge of how their
institution operates.
IV The Board is responsible for ensuring that corrective
action is taken for all program shortcomings identified by
regulator or auditor examination.
1. All of the above
2. I and II
3. III and IV
4. None of the above. They are all the responsibility of the
Designated
Compliance Officer. - ANSWER-1
According to the Basel Committee, examples of Politically
Exposed Persons
include:
I Heads of state or of
government
II Senior politicians, senior government and
judicial officials
, III A-list celebrity actors and
superstar athletes
IV Senior military
officials
V Important political party
officials
VI Senior executives of publicly owned
corporations
VII Former heads of state or government (12+ years
removed from power)
1. All of the above
2. All, but III and VII
3. All, but II and V
4. Only I, II and V - ANSWER-2
While the laws are loosening across the globe as to how much
information law enforcement agencies have access to in their
money laundering investigations, there are still some
restrictions in offshore havens which have strict bank secrecy
laws. However, financial institutions...
1. must not provide financial records if their corporate charter
does not permit it. 2. must provide financial records if they are
legally compelled to do so by subpoena, summons, or court
order.
3. must provide financial records only if their corporate
charter and local laws permit it.
