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How to Pass ACAMS CAMS

Exam in the first Attempt


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Things You Learn About Acams?
What is Acams?

ACAMS is the largest international membership organization dedicated to enhancing the knowledge
and expertise of financial crime detection and prevention professionals[verification needed], from a
wide range of industries, in both the public and private sectors.

ACAMS offers resources designed to develop and sharpen the skills required for superior job
performance and career advancement through certifications, Dumpsbook moneylaundering.com (the
industrys leading online news and information resource), ACAMS Today (the premier AML magazine)
international conferences, full day seminars, web seminars, customized training and peer networking
opportunities Content by Wikipedia.org

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Perfect Example of Money Laundering
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Here Are Some Questions
Question No 1:

In determining what risks a customer poses, which consideration should NOT be a major factor?

A. Where the customer resides or where the business is headquartered.


B. What is the size of your financial institution.
C. What occupation or type of business does the customer derive their income from.
D. What are the customer's ethnic heritage, sexual orientation and political beliefs.

Answer: D

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Question No 2:

In general, the three phases of money laundering are said to be: Placement:

A. Structuring and manipulation.


B. Layering and integration.
C. Layering and smur ng.
D. Integration and in ltration.

Answer: B

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Question No 3:

Which of the following is the most common method of laundering money through a legal money services
business?

A. Purchasing structured money instruments.


B. Smuggling bulk-cash.
C. Transferring funds through Payable Through Accounts (PTAs).
D. Exchanging Colombian pesos on the black market.

Answer: A

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Question No 4:

Which statement is true?

A. Bust-out schemes are popular in creating large bankruptcy frauds where businesses secure increasing
loans in excess of the actual value of the company or property and then run with the money, leaving the
lender to foreclose and take a substantial loss.
B. Cuckoo smur ng is a signi cant money laundering technique identi ed by the Financial Action Task Force,
where a form of structuring uses nested accounts with shell banks in secrecy havens.
C. In its 40 Recommendations, the FATF issued a list of "designated categories of offense" that asserts crimes
for a money laundering prosecution.
D. E-cash is not attractive to the money launderer because it cannot be completely anonymous and does
not allow for large amounts to be "transported" quickly and easily.

Answer: A

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Question No 5:

Which three of the following is an indication of possible money laundering in an insurance industry scenario?

A. Insurance products sold through intermediaries, agents or brokers.


B. Single-premium insurance bonds, redeemed at a discount.
C. Policyholders who are unconcerned about penalties for early cancellation.
D. Policyholders who make full use of the "free look" period.

Answer: B, C, D

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Question No 6:

Which two activities are typically associated with the black market peso exchange (BMPE) money
laundering system?

A. Converting illicit drug proceeds from dollars or Euros to Colombian pesos.


B. Converting illicit drug proceeds from Colombian pesos to dollars or Euros.
C. Facilitating purchases by Colombian importers of goods manufactured in the United States or Europe
through peso brokers.
D. Facilitating purchases by European or U.S. importers of goods manufactured in Colombia through peso
brokers.

Answer: A, C

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Question No 7:

What is the Right of Reciprocity in the eld of international cooperation against money laundering?

A. The legal principle that nancial institutions that have referred customers to other nancial institutions can
share information about these customers with the other institutions.
B. A rule of the Basel Committee allowing properly regulated nancial institutes of another member state of
the Basel Committee to do business without additional supervision to the degree that the other state grants
the same right.
C. The right of each FATF member country to delegate prosecution of a case of money laundering to
another member that is already investigating the same case.
D. A rule in the law of a country allowing its authorities to cooperate with authorities of other countries to the
degree that their law allows them to do the same.

Answer: D

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Question No 8:

The greatest risk for money laundering is for casinos that

A. Provide their customers with a wide array of gambling services.


B. Operate in a non-Egmont member country.
C. Allow customers with credit balances to withdraw funds by check in another jurisdiction.
D. Only send suspicious transaction reports to the nancial intelligence unit of the country it operates in.

Answer: C

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Question No 9:

Which statement is true regarding the risk of Politically Exposed Persons (PEPs)?

A. PEPs provide access to third parties on whom the nancial institution has not conducted suf cient due
diligence.
B. PEPs have signi cantly greater exposure to the politically corrupt funds, including accepting bribes or
misappropriating government funds.
C. PEPs are foreign customers who inherently present additional risk as they are engaged in cross-border
transactions.
D. PEPs generally do not pose enhanced risks to an institution due to their political standing; rather, PEPs
increase the prestige of an institution.

Answer: B

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Question No 10:

Dirty money, derived from criminal activities of

Belgian Criminal A, is sent to a foreign bank account


of Corporation B. Then in Belgium, a new investment Company C is incorporated. Criminal A is appointed as
a director of Company C. Company C borrows money from the foreign Company B and buys real estate in
Belgium. The real estate is rented to third parties. Director (Criminal) A also rents an apartment in the
building. With the funds generated by the rent, Company C pays off
the loan to Corporation B, and the salary of Director A. Criminal A now converted his dirty money in legal
funds. This laundering method is commonly referred to as what?

A. Offsetting real estate transactions.


B. Loan back.
C. Cuckoo smur ng.
D. Loan manipulation

Answer: B

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