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Certified Anti Money Laundering Specialist Cams

Subject : certifications
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. What is important about the US Money Laundering Control Act (MCLA)?






2. What is a Financial Intelligence Unit?






3. 'Kiting' via credit card






4. Credit Card Associations






5. 'Competent Authorities' refers to _____.






6. FATF Recommendation 5






7. Why does a launderer try to run transactions through a concentration account of a financial institution?






8. 'Closed-end Mutual Fund' (Or Comany)

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9. What does theInternationa Narcotics Control Strategy Report (INCSR) entail?






10. FATF Recommendation 27






11. What is meant by 'Know Your Customer's customer'?






12. FATF Recommendation 32






13. US law prohibhits Foriegn Shell Banks from ____?






14. FATF Recommendations examples of non-financial businesses and professions






15. The USA Patriot Act enacted a number of statutory provisions that bear directly on the procedures US financial institutions must follow in connection with their...






16. Foriegn Shell Banks are vehicles for ______ & ______?






17. What does the principal US money laundering law look for before implementing its 'Extraterritorial Reach'?






18. Transparency International






19. FATF






20. What is private investment company also known as?






21. FATF Sepcial Recommendation on Terrorist Financing -- SR Nine






22. What is the primary use of a 'Mutual Legal Assistance Treaty'?






23. What are included in the Wolfsberg AML Principles on Private Banking?






24. FATF Recommendation 18






25. How are 'Predicate Crimes' sometimes identified?

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26. Where is the Art Loss Register found?






27. Abusive Squeezes

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28. What is a 'NCCT'?






29. FATF Sepcial Recommendation on Terrorist Financing -- SR Three






30. FATF Recommendation 10






31. FATF Sepcial Recommendation on Terrorist Financing -- SR Six






32. Free Look Period






33. FATF Recommendation 3






34. Account Monitoring Order (UK and several other countries)






35. FATF Recommendation 26






36. Market Manipulation






37. A notary can issue a Apostille but it must be in a country that signed The Hague Convention (1961) and it must ___________. If the notary doesn't understand - find another one.

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38. What is a 'Trust'?






39. A 'panzi' scheme is named for whom?






40. FATF Recommendation 33






41. Examples of VSP's






42. Affidavit






43. What were recently identified as Emerging Money Laundering risks?






44. Boiler Room






45. What is one of the Financial Service Authority's (UK) tasks?






46. Who appoints a 'Federal Receiver' (US)?






47. Nostro

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48. FATF Recommendation 19






49. Why is 'Know Your Customer's Customer' important?






50. What are some of the AML dangers of casino junkets?