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1) The Third EU Money Laundering Directive of 2005 applies to which of the following firms?
2) After receiving an STR, the relevant law enforcement agency requests permission to interview the bank personnel who are familiar with the underlying transaction. What should the compliance officer recommend?
3) An AML compliance officer is investigating unusual activity that she has noticed in a customer’s accounts. The customer has a retirement account, a savings account in trust for his son, a joint checking account with his wife, a company checking account and an individual brokerage account. The compliance officer believes the customer may be embezzling funds from his business. Which is the best path for her to follow up on her suspicions?
4) A bank in Italy holds a business account for an Italian company that sells gold throughout Europe and the Western Hemisphere. The bank knows the purpose of this account is to receive payment for sales. A review of the account shows a pattern of wire transfers coming from payable-through accounts. There is also a pattern of purchases of gold bullion held in Swiss banks. The MOST important factor in assessing whether money laundering is a threat is that the:
5) 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?
6) The greatest risk for money laundering is for casinos that
7) Which of the following controls would most effectively minimize the need to correct failures to collect required customer information in the account opening process?
8) Which of the following statements is true? Correspondent banking is MOST vulnerable to money laundering when the correspondent account is:
9) Establishing compliance as a key responsibility for every employee of a financial institution is best performed how?
10) Which of the following is the most common method of laundering money through a legal money
services business?

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