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Welcome to CCFA Study Questions

1) What are the three classic gateways for international cooperation and sharing?
2) When conducting training for AML purposes for account opening staff, which of the following addresses the most important aspects to consider in the training?
3) A financial institution has determined that opening accounts for certain types of customers is not worthwhile, as the cost of implementing controls is too great for the revenue earned from the customers. Which of the following options is the most effective way to enforce such a decision?
4) About an hour before closing time, a construction worker comes to a financial institution and wants to provide cash in exchange for sending money abroad. It is the middle of summer and the customer indicates that he’s been outside for the bulk of the day and needs to send money to a family member who is in another country. Which of the following would be considered the biggest concern with the customer and his request?
5) Most frauds are committed by
6) Typically, when should a financial institution file an STR?
7) Which of the following best describes the “alternative remittance system”?
8) A financial institution is looking to establish an online account opening service. The institution plans to offer this product to new and existing customers within the country. Which of the following would be the best plan of action for an AML specialist to recommend enabling the institution to verify the customer’s identity?
9) What is considered a beneficial owner of an account? A person or entity:
10) Which three of the following statements are true?

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CCFA Nigeria