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1) When assessing a new product, which of the following should be considered as part of the assessment from an AML perspective?
2) A compliance officer is looking to improve a compliance program for a financial institution that operates in several countries. The institution has developed a consistent customer due diligence (CDD) requirement for all customers of the institution that exceed each of the individual countries’ requirements. When looking to provide management reporting on the CDD compliance efforts of the institution, which of the following would make most sense?
3) When conducting training for AML purposes for account opening staff, which of the following addresses the most important aspects to consider in the training?
4) Which of the following statements is true? Correspondent banking is MOST vulnerable to money laundering when the correspondent account is:
5) When documenting ongoing training efforts, which of the following should be documented to demonstrate the distribution of the training to appropriate employees?
6) In general, the three phases of money laundering are said to be: Placement,
7) As part of their role in fighting money laundering, financial institutions should:
8) 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?
9) Suzy is an AML compliance officer at an institution that is looking to open treasury management services (e.g., wires, check clearing, foreign draft issuance) for correspondent banking customers. Which of the following should Suzy be most concerned about regarding the institution’s capabilities regarding these customers?
10) Susan works as a senior Money Laundering Reporting Officer at XYZ Bank. She is taking a closer look at the activity of several customers. What would arouse her suspicion the MOST?

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