Anti-Money Laundering Act(RA 9160, As Amended by RA 9194)

1. The following are ‘Unlawful Activities’ as described under RA 9160 except;

a. Smuggling
b. Destuctive Arson and Murder
c. Smuggling
d. Slander
2. The_________ shall have jurisdiction to try all cases on money laundering.

a. Regional Trial Court

b. Municipal Court
c. Any court of Law
d. Anti-Money Laundering Council

3. The following are the circumstances exist in the suspicious transactions except:
a. There is no underlying legal/trade obligation, purpose or economic justification;
the client is not properly identified;
b. The amount involved is not commensurate with the business or financial capacity
of the client;
c. The transaction is related to an unlawful activity/offense under the AMLA;
d. None of the above

4. As amended by R.A. 10365, the freeze order issued by the court, unless extended by
them, shall not exceed for a period of
a. Six (6) months
b. One (1) month
c. Twenty (20) days
d. Fifteen (15) days

5. The Anti-Money Laundering Law is a law that seeks to prevent money laundering activities by
providing for more transparency in the Philippine Financial System, hence the following
institutions are covered by the law, except
a. Bank and any financial institutions
b. Pawnshops
c. Casino Operators
d. All of the above

6. For purposes of determining violation of the provision of Anti-Money Laundering Law, a

transaction is considered as a “Suspicious Transaction” with “Covered Institutions” regardless of
the amount involved, where which the following circumstances exist/s?
a. The amount involved is not commensurate with the client’s business or financial capacity
b. There is no underlying legal or trade obligation, purpose or economic justification
c. Client is not properly identified
d. All of the above
7. What is the covered transaction under the Anti- Money Laundering Act?
 a. Covered transactions are single transactions in cash or other equivalent
monetary in-strument involving a total amount in excess of Five Hundred
Thousand (P500,000) Pesos within one (1) banking day.
b. Covered transactions are single transactions in cash or other equivalent monetary
in-strument involving a total amount in excess of Four Hundred Thousand (P400,000)
Pesos within one (1) banking day.
c. Covered transactions are single transactions in cash or other equivalent monetary
in-strument involving a total amount in excess of Three Hundred Thousand (P300,000)
Pesos within one (1) banking day.
d. Covered transactions are single transactions in cash or other equivalent monetary
in-strument involving a total amount in excess of Two Hundred Thousand (P200,000)
Pesos within one (1) banking day.

8. What are the covered institutions mandated by the AMLA to submit covered and suspicious
transaction reports to the AMLC?

a. Banks and all other entities, including their subsidiaries and affiliates, supervised and
regulated by the Bangko Sentral ng Pilipinas.
b. Insurance companies, pre-need companies and all other institutions supervised or
regulated by the Insurance Commission.
c. Securities dealers and other entities supervised or regulated by the Securities and
Exchange Commission.
d. All of the above.

9. What are the three (3) stages of Money Laundering?

- Placement , Layering , Integration

10. Statement 1: all records of all transactions of covered institutions shall be maintained and
safely stored for 10 years from the date of the transactions under the AMLA.
Statement 2: if the report of a covered institution does not result to any criminal prosecution
under the AMLA, the person reported may file a suit against the reporting institution for violation
of the law on secrecy of bank deposits.
a. Only statement 1 is true
b. Only statement 2 is true
c. Both statements are true
d. Both statements are false.
11. For a transaction in a casino to be included as a covered transaction, the single cash
transaction must be in excess of:
a. P500,000
b. P5,000,000
c. $500,000
d. $5,000,000

12. Covered institutions shall report to the AMLC all covered transactions within
a. 5 working days from occurrence thereof
 b. 10 working days from occurrence thereof
c. 15 working days from occurrence thereof
d. 20 working days from occurrence thereof

13. Juan is considering stealing something from a bypasser. He then successfully committed a
theft by stealing the bypasser’s phone, completely unrelated to him. Is the unlawful activity
committed under the AMLA?

a. Yes
b. No
c. Maybe

14. A court order is necessary for every unlawful activity committed under AMLA.

a. True
b. False

15. All records of transactions of covered institutions shall be maintained and safely stored for 5
years from the date of transactions.

a. True
b. False

16. All are parts of the minimum customer information and identification documents except:

a. Name
b. Age
c. Contact no.
d. Date and Place of Birth

17. A shell company is an incorporated company that possesses significant assets and
performs significant operations.

a. True
b. False

18. A jewelry dealer is a covered entity under AMLA even if the transaction is not in excess of
P1M.

a. True
b. False

19. Chitanda is an owner of a big farming land. One of her workers committed a theft of
agricultural produce and sold it to the market. Is the unlawful activity covered under AMLA?
 a. Yes
b. No
c. Maybe

20. Theft with no intimidation or violence were committed with the intent to gain is an unlawful
activity covered under AMLA.

a. Yes
b. No
c. Maybe