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Question No 1:

What are three things to keep in mind while conducting an internal investigation when there is an on-going criminal investigation?

A. The need to continue to cooperate with law enforcementB. The benefit of asking law enforcement to discontinue its investigation until the institution has had a chance to complete its investigationC. The importance of keeping law enforcement apprised as to what the institution is doingD. The need to respect the law enforcement investigation and to refrain from doing things that might interfere with their investigation

Answer: A, C, D



Question No 2:

The International Money Laundering Information Network (IMoLIN) has what features? (Pick three)

A. An AML International DatabaseB. Current eventsC. Reference dataD. A list of PEPs

Answer: A, B, C



Question No 3:

What are three ways to engage in international cooperation with regard to financial investigations?

A. Through the International Money Laundering Information NetworkB. Through Mutual Legal Assistance TreatiesC. Through the Central Intelligence AgencyD. Through Financial Intelligence Units

Answer: A, B, D



Question No 4:

The supervisory channel of sharing information refers to sharing between what type of entities?

A. Financial regulatorsB. FIUsC. Law enforcement agenciesD. Central banks

Answer: A



Question No 5

Which of the following should an anti-money laundering specialist include on an internal investigation log?

A. Notes relating to a background check of a prospective employee of the companyB. Supporting documentation and materials for denying service to a client with a bad credit ratingC. Notes pertaining to activity that is unusualD. Reference to a memorandum to the company's corporate management relating to budgetary and similar concerns

Answer: C



Question No 6:

What are three of the tenets / principles of international sharing put forth by the Egmont Group?

A. Sharing should be possible on the basis of reciprocity, including spontaneous exchangeB. Differences in the definition of offenses should not be an obstacle in the free exchange of informationC. The exchange of information between FIUs should take place as informally and as rapidly as possible and with no excessive formal prerequisitesD. Exchange of information should only occur if the offense at issue is the same in both countries

Answer: A, B, C



Question No 7:

What are three common red flags?

A. Transactions that flow through several different countries for no apparentreasonB. Transactions that are premised on pre-approval by a governmentC. Frequent transfers between accounts for no apparent reasonsD. Redemption of a large volume of travelers' checks

Answer: A, C, D



Question No 8:

What are three commonly considered high risk products?

A. Correspondent bankingB. Private bankingC. Mortgage financingD. International activity

Answer: A, B, D



Question No 9:

What are three factors pertaining to geographic risk?

A. How strong the country's AML regime isB. Whether the country is a member of the EUC. Whether the country is a member of FATFD. Whether the country has a strong regulatory system

Answer: A, C, D



Question No 10:

Why is a risk-based approach preferable to a formulistic approach? (Pick three)A. A risk-based approach allows an institution to focus on its highest risksB. An institution cannot be expected to uncover all instances of money laundering and fraudC. A risk-based approach can take into consideration the particular situation and circumstances of the institutionD. Compliance with a risk-based approach is easier to implement and evaluate

Answer: A, B C



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