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Question 36/137
What are three elements of a sound Customer Due Diligence Program?
Correct Answer: A,B,D
- Question List (137q)
- 2 commentQuestion 1: What poses the greatest money laundering risk for a financia...
- Question 2: What are the European Union Directives on Money Laundering?...
- Question 3: What are three indicators of money laundering associated wit...
- 1 commentQuestion 4: What is the primary action a financial institution should ta...
- Question 5: What facilitates law enforcement agent obtaining evidence fr...
- Question 6: Which three entities does the Third European Union Money Lau...
- Question 7: An anti-money laundering specialist working at a bank just r...
- 3 commentQuestion 8: CORRECT TEXT According to the Financial Action Task Force 40...
- Question 9: To ensure that an institution's anti-money laundering progra...
- Question 10: How can dealers in high-value items be at risk for money lau...
- 1 commentQuestion 11: A customer has held an account at a local credit institution...
- Question 12: What describes the Black Market Peso Exchange money launderi...
- 2 commentQuestion 13: An account officer who maintains an excellent relationship w...
- Question 14: Which element is generally required of all anti-money launde...
- 2 commentQuestion 15: What are three factors a financial institution should examin...
- Question 16: The purpose of an anti-money laundering program should be to...
- Question 17: Which three should real estate agents include in the criteri...
- Question 18: What is a key element required to ensure an anti-money laund...
- Question 19: When the minimum CDD standards of the home and host countrie...
- Question 20: A quarterly review is conducted on a retail customer's accou...
- Question 21: A customer comes into the bank and appears to be ill-at-ease...
- 2 commentQuestion 22: How do payable through accounts (PTAs) differ from normal fo...
- Question 23: An anti-money laundering specialist at a financial instituti...
- Question 24: An anti-money laundering specialist at a large institution i...
- Question 25: After an institution files an STR with regard to a particula...
- Question 26: Which three statements are true regarding the extraterritori...
- Question 27: Which three are the most commonly used risk criteria?...
- 3 commentQuestion 28: When an institution conducts an internal investigation into ...
- 2 commentQuestion 29: A commission regotorie would be used in which gateway to obt...
- Question 30: What is the term for trading through multiple accounts, wher...
- Question 31: In performing a risk analysis, which factor(s) should a fina...
- Question 32: What are some useful tools or methods in conducting an inter...
- Question 33: Which three are principles found in the document "Principles...
- Question 34: In 2004, Consolidated KYC Risk Management was issued by the ...
- Question 35: Which of the following is the most common risk with a Person...
- Question 36: What are three elements of a sound Customer Due Diligence Pr...
- Question 37: Which activity is most likely to facilitate money laundering...
- 3 commentQuestion 38: In the FATF 40 recommendations, the focus of AML efforts has...
- Question 39: Which type of transactions present the highest risk?...
- Question 40: A compliance officer is looking to update an institution's p...
- 1 commentQuestion 41: Which three elements should be considered in an institution'...
- Question 42: Why do government entities around the world believe that a r...
- Question 43: How does a regulatory body typically obtain international as...
- Question 44: In which type of banking transaction is price manipulation, ...
- Question 45: Federal law requires all U.S. financial institutions to secu...
- 1 commentQuestion 46: When and how should an institution appraise the AML risk of ...
- Question 47: Why do trusts established in certain offshore jurisdictions ...
- Question 48: When an institution files an STR with regard to a particular...
- 1 commentQuestion 49: A prospective AML officer comes highly recommended by a bank...
- Question 50: In general, what is an element that a financial institution ...
- 1 commentQuestion 51: In order to protect investigative materials from disclosure ...
- Question 52: What is a major money laundering risk associated with a numb...
- Question 53: What was cited by the Wolfsberg Group in its Statement on th...
- 1 commentQuestion 54: What is one recommendation of the Basel Committee's 2001 pap...
- 1 commentQuestion 55: Which statement is true about when an institute becomes awar...
- Question 56: Which statement is true about banking regulatory agencies ha...
- Question 57: Which three procedures should a compliance officer looking t...
- Question 58: What should a bank focus on to ensure on-going compliance wi...
- Question 59: What is operational risk?
- 1 commentQuestion 60: In which three situations is correspondent banking most vuln...
- Question 61: An audit completed the previous week revealed that a private...
- 3 commentQuestion 62: In some instances, a financial institution may receive a war...
- 2 commentQuestion 63: Which three circumstances are indicators for defining a cust...
- Question 64: What should be part of an institution's monitoring and STR f...
- Question 65: Which action should be taken regarding a particular account ...
- Question 66: How do drug traffickers and other criminals use the fine art...
- 2 commentQuestion 67: Which precaution will a money launderer take to avoid detect...
- Question 68: Why is the Mutual Legal Assistance Treaty (MLAT) a gateway f...
- Question 69: Which three are examples of best practices terms of ensuring...
- 2 commentQuestion 70: What is a criterion for FATF membership?...
- Question 71: An anti-money laundering officer for a financial institution...
- Question 72: The Board of Directors and the senior management of a financ...
- Question 73: Pursuant to the Third European Union Money Laundering Direct...
- 2 commentQuestion 74: An anti-money laundering expert is hired by a new Internet b...
- Question 75: A profitable commercial customer who operates an import-expo...
- Question 76: What should senior management do in order to promote a cultu...
- 2 commentQuestion 77: Which three criteria does a shell bank meet according to the...
- 3 commentQuestion 78: Which situation is the highest risk fr money laundering and ...
- Question 79: What is the result of an increased awareness of the potentia...
- Question 80: The Wolfsberg Principles for Private Banking list circumstan...
- Question 81: Bank A is located in Country A. A wire transfer from Bank B ...
- 3 commentQuestion 82: Which two aspects of the security broker dealer industry inc...
- Question 83: A compliance officer at a small local bank reads in the news...
- 1 commentQuestion 84: What are some of the shortcomings in using letters regulator...
- 2 commentQuestion 85: What kind of person should perform the independent testing o...
- Question 86: What are three potential issues for foreign financial instit...
- 1 commentQuestion 87: In addition to monitoring for suspicious activity, what are ...
- Question 88: Which primary international authoritative body designates sa...
- 1 commentQuestion 89: What is one of the indicia of a Black Market Peso Exchange?...
- Question 90: The bank for International Settlements provides the secretar...
- Question 91: In relationship to life insurance business, the third Europe...
- Question 92: According to experts, what is the most effective way to prev...
- Question 93: According to the Second European Union Money Laundering Dire...
- Question 94: What is an indicator of suspicious activity?...
- Question 95: Which AML standards have force of law?...
- Question 96: Which action should an FIU consider taking when it has infor...
- Question 97: Which two statements about the Wolfsberg Group are true?...
- Question 98: What are some of the methods for sharing information and coo...
- Question 99: A remittance company received a money order from a senior po...
- Question 100: When should new business products to evaluated for AML conce...
- Question 101: Which example describes the vulnerability of the securities ...
- Question 102: A customer comes into a financial institution and deposits a...
- 3 commentQuestion 103: Which statement about U.S. Specified Unlawful Activities (SU...
- Question 104: Which three characteristics make non-profit organizations vu...
- Question 105: A compliance officer is conducting a review of the automated...
- Question 106: What should an effective anti-money laundering training prog...
- Question 107: The marketing department presents a business plan targeting ...
- Question 108: With which person(s) should an anti-money laundering officer...
- Question 109: An anti-money laundering specialist has just developed and i...
- Question 110: What is most valuable when using the internet as an investig...
- 3 commentQuestion 111: Which three do the Office of Foreign Asset Control regulatio...
- Question 112: An AML compliance officer receives notice of government upda...
- Question 113: What is suspicious activity or red flag with regard to a cus...
- 2 commentQuestion 114: When requested by law enforcement via legal process to provi...
- 1 commentQuestion 115: When providing reporting of STRs to the board, which of the ...
- Question 116: In many jurisdictions, financial institutions are prohibited...
- Question 117: According to the Financial Action Task Force 40 Recommendati...
- 1 commentQuestion 118: How can a financial institution verify the nature and purpos...
- 1 commentQuestion 119: What does designing a country as being of "prime money laund...
- Question 120: What are three risk factors a financial institution should e...
- Question 121: A junior account manager within an international private ban...
- Question 122: After evaluating recent changes to international standards, ...
- Question 123: A compliance officer is looking to modify procedures coverin...
- Question 124: How should a financial institution deter money laundering th...
- Question 125: Which three areas do FATF's 40 recommendations cover? Choose...
- Question 126: Why would a credit card account likely not be used in the pl...
- Question 127: What are some red flags pertaining to potentially suspicious...
- Question 128: To guard against acquisition or control of a financial insti...
- Question 129: On who does the ultimate responsibility for an institution's...
- Question 130: In May 2002, the Wolfsberg Principles on Private Banking wer...
- Question 131: An anti-money laundering specialist has been asked to create...
- Question 132: What should a compliance officer do during an ongoing invest...
- Question 133: What are some red flags financial institutions should be awa...
- Question 134: Which method most likely indicates the placement stage of la...
- Question 135: What should law enforcement provide when asking an instituti...
- Question 136: What was the topic the Wolfsberg Group's first guidance addr...
- 2 commentQuestion 137: Which customer transaction with a securities dealer would in...
