AML Training
AML Training Quiz
Test your knowledge on Anti-Money Laundering (AML) concepts with our interactive quiz! This quiz covers important topics such as the consequences of money laundering, stages of laundering, and compliance responsibilities.
- Multiple choice questions
- Enhance your understanding of AML
- Suitable for professionals in finance and compliance
Which of the following is not considered one of the consequences of money laundering?
Corruption
Recession
Undermining of the Private Sector
Economic Distortion
Trying to hide the criminal origin of the proceeds through bank transfers is under which stage?
Layering
Integration
Placement
All of the above
Terrorist financing is trying to use the cash obtained illegally without being detected
True
False
Which of the following is the U.S Financial Intelligence Unit (FIU)?
FINTRAC
FinCen
The Government
The FBI
If you fail to report a suspicious transaction, you will be held responsible and liable.
True
False
Which of the following is not considered a suspicious transaction?
Volume spikes
High Credit to Sales Ratio
Transactions not making sense as to the products being sold
Two purchases from the same credit card
Under the FinCen Rule, the aggregate transaction threshold limit for filing a SAR (Suspicious Activity Report) would be:
$3,000
$4,000
$10,000
$5,000
Transaction Laundering is
When a merchant processes unknown transactions on behalf of another merchant
Monitoring the account after approval
When a merchant processes known transactions
When a merchant suddenly stops processing
Who would be the Chief Compliance Officer at Merrco?
Fern
Kiki
Robert
Keith
Which would be an applicable combination of the documents we could request as part of the KYC onboarding process (Underwriting)?
Drivers License, Passport, Tax ID
Drivers License, Business registration, Tax ID
Bank statements and Utility bill
Health card, Bank statements, Utility bill
Who are the three Compliance personnel at Merrco?
Kiki, Pam, Keith
Fern, Kiki, Robert
Kiki, Robert, Sam
Robert, Keith, Sam
Who should you inform when faced with a suspicious transaction?
The Compliance Officer, Robert
The COO, Kiki
The CEO, Fern
The Compliance Specialist, Sam
If a merchant processes 7 transactions a day, would an SAR be required?
Yes
No
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