{"id":132542,"date":"2024-05-31T05:00:02","date_gmt":"2024-05-31T05:00:02","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=132542"},"modified":"2024-05-31T05:00:05","modified_gmt":"2024-05-31T05:00:05","slug":"acams-exam-2024-questions-with-correct-and-verified-answers","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2024\/05\/31\/acams-exam-2024-questions-with-correct-and-verified-answers\/","title":{"rendered":"ACAMS EXAM 2024 QUESTIONS WITH CORRECT AND VERIFIED ANSWERS"},"content":{"rendered":"\n

ACAMS EXAM<\/p>\n\n\n\n

    \n
  1. 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<\/li>\n\n\n\n
  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 smurfing.
    D. Integration and infiltration. – ANSWER- B<\/li>\n\n\n\n
  3. 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.<\/li>\n<\/ol>\n\n\n\n

    B. Cuckoo smurfing is a significant money laundering technique
    identified 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.
    2 – ANSWER- A<\/p>\n\n\n\n

      \n
    1. 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<\/li>\n\n\n\n
    2. 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.<\/li>\n<\/ol>\n\n\n\n

      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<\/p>\n\n\n\n

        \n
      1. What is the Right of Reciprocity in the field of international
        cooperation against money laundering?
        A. The legal principle that financial institutions that have referred
        customers to other financial institutions can share information about
        these customers with the other institutions.
        B. A rule of the Basel Committee allowing properly regulated financial
        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.
        3 – ANSWER- D
        The greatest risk for money laundering is for casinos that
        A. Provide their customers with a wide array of gambling services.<\/li>\n<\/ol>\n\n\n\n

        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 financial intelligence
        unit of the country it operates in. – ANSWER- C<\/p>\n\n\n\n

          \n
        1. Which statement is true regarding the risk of Politically Exposed
          Persons (PEPs)?
          A. PEPs provide access to third parties on whom the financial institution
          has not conducted sufficient due diligence.
          B. PEPs have significantly 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<\/li>\n\n\n\n
        2. 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?<\/li>\n<\/ol>\n\n\n\n

          Get the full exam pdf here https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n\n\n\n

          For reference https:\/\/www.acams.org\/en<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

          ACAMS EXAM B. Cuckoo smurfing is a significant money laundering techniqueidentified by the Financial Action Task Force, where a form ofstructuring uses nested accounts with shell banks in secrecy havens.C. In its 40 Recommendations, the FATF issued a list of “designatedcategories of offense” that asserts crimes for a money launderingprosecution.D. E-cash is not attractive to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[239],"class_list":["post-132542","post","type-post","status-publish","format-standard","hentry","category-exams-certification","tag-acams-exam"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/132542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=132542"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/132542\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=132542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=132542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=132542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}