Acams Question No 3

Question No 3:

The Wolfs berg Principles for Private Banking list circumstances that would require additional due diligence, including activities that involve which three of these choices?
A. Foreign jurisdictions
B. High Risk Countries, including those identified by credible sources as having inadequate Anti Money Laundering standards
C. High Risk activities, involving clients and beneficial owners whose source of wealth originates From activities known to be vulnerable to money laundering
D. Public Officials, including those individuals who have or had positions of public trust

Answer: B, C, D

Acams Question No 2

Question No 2:

Which indicator should be suspicious to a compliance officer at a brokerage firm?

A. Trading between accounts controlled by the same person
B. Large number of bid/ask prior to market opening
C. The client imposed limits to their losses from the outset of the relationship
D. A broker splits the bid-ask spread with the investor when matching buy and sell orders

Answer: A , D

Acams Question No 1

Question No 1:

How does micro structuring differ from structuring?

A. The transaction amounts are much smaller
B. The transactions never exceed $1,000 USD
C. The transactions are done only at small community banks
D. It is done to avoid the monetary instrument log instead of a currency transaction report

Answer: A