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Total 860 questions

Certified Anti-Money Laundering Specialist (the 6th edition) Questions and Answers

Question 65

A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan. A law enforcement officer calls the anti-money laundering officer to discuss the suspicious transaction report. Which of the following is the anti-money laundering officer legally permitted to do?

1. Discuss any aspects of the reported activity.

2. Provide copies of the customer's loan documents.

3. Explain the customer's loan payment history.

4. Send the deposit documents referenced in the suspicious transaction report.

Options:

A.

1 and 2 only

B.

1 and 4 only

C.

2 and 3 only

D.

2 and 4 only

Question 66

A new compliance officer is reviewing the bank’s anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, renamed

the internal records group, and streamlined cash handling procedures.

Which factor causes the compliance officer to update the bank’s risk assessment?

Options:

A.

The bank acquired another institution

B.

The internal records group has been re-named

C.

The cash handling procedures were streamlined

D.

The risk assessment was completed six months ago

Question 67

Historically, which vehicle is most often used to hide beneficial ownership?

Options:

A.

Professional association

B.

An offshore company

C.

A limited liability partnership

D.

A charitable organization

Question 68

Which insurance product is particularly vulnerable to money laundering?

Options:

A.

Annuity

B.

Casualty

C.

Collateral

D.

Regulated pension

Page: 17 / 61
Total 860 questions