EMT Practice Test

1. Question Content...

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Question1: What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?

Question2: Which insurance product is particularly vulnerable to money laundering?

Question3: What are two requirements of United States financial institutions when conducting business with an international financial institution as a result of the USA PATRIOT Act? (Choose two.)

Question4: An organization uses an automated surveillance system that generates a very large volume of anti-money laundering alerts. The monthly volume of alerts has increased over the last year causing the compliance staff to fall significantly behind reviewing the alerts. As a result, the system settings are under review to determine if they are appropriate.
Which action should be included in the evaluation of system settings?

Question5: Which action should be taken regarding a particular account once suspicious activity is reported by the institution?

Question6: A money remittance business will most likely attract money launderers because it
1.deals primarily in cash transactions.
2.engages in international transactions.
3. conducts transactions for walk-in customers.
4.does not have to comply with transaction reporting.

Question7: An analyst reviewing trade finance transactions notices an increase in price of 25% over 12 months for commodities with the same specification and quantity. Which action should the analyst take?

Question8: Upon a routine account review a money laundering investigator identified a number of large round dollar wire transfer deposits into a business account owned by a local auto repair shop. The wire transfers all originated from a country that is a known financial secrecy haven with poor anti-money laundering controls. The investigator concludes there appears to be no legitimate business purpose for the wire transfers and files a suspicious transaction report. The owner of the auto repair shop is popular in the community and is a well-known philanthropist.
To whom should the investigator escalate these concerns?

Question9: What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?

Question10: Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You have an app named App1 that uses the Face API.
App1 contains several PersonGroup objects.
You discover that a PersonGroup object for an individual named Ben Smith cannot accept additional entries.
The PersonGroup object for Ben Smith contains 10,000 entries.
You need to ensure that additional entries can be added to the PersonGroup object for Ben Smith. The solution must ensure that Ben Smith can be identified by all the entries.
Solution: You migrate all the entries to the LargePersonGroup object for Ben Smith.
Does this meet the goal?

Question11: A retail bank has just acquired a credit card business. The bank's anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.
Is the bank's existing anti-money laundering training adequate to be delivered to employee of the newly acquired credit card business?

Question12: Which primary international authoritative body designates sanctions?

Question13: Which key factor would result in the decision for a financial institution (FI) to exit a client relationship?

Question14: Why would a credit card account likely not be used in the placement stage of money laundering?

Question15: An organization's automated surveillance system identifies large fluctuations in customer activity. As a result of an audit, the compliance officer is informed that the system is not generating alerts when activity is consistently abnormal over a long period of time. Currently the organization is evaluating new alert scenarios in an attempt to address this problem.
Which type of scenario is helpful in mitigating this weakness?

Question16: The line of business is responsible for creating, implementing and maintaining policies and procedures, as well as communicating these to all personnel. It must also establish processes for screening employees to ensure high ethical and professional standards and deliver appropriate training on AML policies and procedures based on roles and functions performed so employees aware of their responsibilities. To facilitate this, employees should be trained as soon as possible after being hired, with refresher training as appropriate.
To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?

Question17: A financial institution is reorganizing and the anti-money laundering officer is now required to report to the Head of Operations?

Question18: What are some red flags pertaining to potentially suspicious transactions by a customer? Choose 3 answers

Question19: What correspondent banking risk factor increases the risk for a Correspondent Bank?

Question20: On discovering employees had unintentionally provided assistance to customers who were structuring transactions, an anti-money laundering specialist should recommend

Question21: Which of the following reflect money laundering risk indicators in relation to a securities account?
1. A high level of activity in that securities account immediately followed by a high volume of securities transactions.
2. Frequent wire transfers into an account immediately followed by debit card transactions.
3. Frequent wire transfers into an account immediately followed by checks (cheques) or other payment instruments drawn on the account.

Question22: Which two aspects of the security broker dealer industry increase its exposure to money laundering? Choose 2 answers

Question23: Which type of transactions present the highest risk?

Question24: A compliance officer learns from an Information Technology (IT) source of a potential new financial service being discussed by the new product approval committee.
What is the correct next course of action?

Question25: Which method to launder money through deposit-taking institutions is closely associated with international trade?

Question26: Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are deploying an Azure Machine Learning model to an Azure Kubernetes Service (AKS) container.
You need to monitor the scoring accuracy of each run of the model.
Solution: You configure Azure Application Insights.
Does this meet the goal?

Question27: A branch manager for a small community bank has a new customer who deposits four EUR 50,000 checks into one account. Shortly thereafter, the customer goes to another branch and asks to transfer all but EUR 1,500 to three accounts in different foreign jurisdictions.
Which suspicious activity should be the focus of the suspicious transaction report?

Question28: The most important anti-money laundering issue associated with on-line banking is accurately

Question29: A bank located in New York has identified suspicious transactions at a correspondent bank in ChinA. For one of the international customers, the correspondent bank is not following agreed upon protocols.
Which factor indicates that the bank should terminate the relationship?

Question30: You have a solution that runs on a five-node Azure Kubernetes Service (AKS) cluster. The cluster uses an N- series virtual machine.
An Azure Batch AI process runs once a day and rarely on demand.
You need to recommend a solution to maintain the cluster configuration when the cluster is not in use. The solution must not incur any compute costs.
What should you include in the recommendation?

Question31: A customer has held an account at a local credit institution for 10 years. The account has received deposits twice weekly for the same amount and has never shown signs of suspect behavior. Monitoring software indicated that in the past few months the account has received several large deposits that were not in line with the account history.
When asked, the customer states she recently sold a piece of property, which is supported with a proof of sale.
Which of the following should the compliance officer do next?

Question32: An employee hears a colleague on the telephone with a customer giving advice on how to ensure that a suspicious transaction report will not be filed as a result of a future transaction.
What action should the employee take?

Question33: Which of the following activities is most likely associated with a lawyer participating in a money laundering scheme?

Question34: Which three do the Office of Foreign Asset Control regulations cover? Choose 3 answers

Question35: A compliance officer receives a report from the institution's monitoring system. One account was identified in multiple alerts for the amount of cash deposited and international wires sent.
Which two sources of information held within the institution will enable the compliance officer to determine whether the activity should be reported? (Choose two.)

Question36: Which two actions should Financial Intelligence Units (FIUs) take when submitting a request to another FIU? (Choose two.)

Question37: A popular restaurant in town has begun depositing less cash than it has in prior years. In a review of the customer's accounts, you notice that credit card receipts have increased with no explanation.
The account officer discovers that the restaurant has installed a privately-owned automated teller machine (ATM) onsite and has begun construction of a patio dining area.
Which red flag should trigger additional investigation?

Question38: Who has the day-to-day responsibility of communicating and reinforcing the established anti-money laundering compliance culture and program?

Question39: During the course of work on behalf of a client, a lawyer participated in the movement of money. If the lawyer suspects an act of money laundering, which of the following should the lawyer do according to European Union Money Laundering Directives?

Question40: What should countries do to help prevent non-profit organizations from being abused for the financing of terrorism according to the Financial Action Task Force 40 Recommendations?

Question41: Which of the following is the most common risk with a Personal or Private Investment Company (PIC)?

Question42: Which statement describes the relationship between the internal audit function and compliance?

Question43: Which type of transactions present the highest risk?

Question44: An anti-money laundering specialist has been hired by an independently-owned community bank to implement an anti-money laundering compliance program. This bank has recently seen a dramatic increase in the number of international electronic fund transfers from its commercial clients. The first thing the anti-money laundering specialist should do is

Question45: What does the Financial Action Task Force (FATF) urge its members and all other jurisdictions to do when a jurisdiction is identified as having lax anti-money laundering / counter financing of terrorism controls?

Question46: What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)

Question47: Which of the following is considered a shell bank as defined by the USA PATRIOT Act?

Question48: You have a Bing Search service that is used to query a product catalog.
You need to identify the following information:
* The locale of the query
* The top 50 query strings
* The number of calls to the service
* The top geographical regions of the service
What should you implement?

Question49: What is an example of the integration stage of money laundering involving a bank or another deposit-taking institution?

Question50: Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?

Question51: In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?

Question52: What national agency is responsible for analyzing and assessing the information it receives to substantiate possible existence of money laundering or terrorist financing activities?

Question53: When the minimum CDD standards of the home and host countries differ, the offices in the host countries should follow which requirements?

Question54: Which of the following customers require the most enhanced due diligence?

Question55: A foreign politically exposed person (PEP) requests to add a beneficiary to a file insurance policy.
How should the request be processed to mitigate risk?

Question56: Historically, which vehicle is most often used to hide beneficial ownership?

Question57: What are two sources for maintaining up-to-date sanctions information? (Choose two.)

Question58: A personal banking customer who simultaneously opens several accounts will most likely cause further inquiry in which of the following scenarios?

Question59: The Wolfsberg Principles for Private Banking list circumstances that would require additional due diligence, including activities that involve which three of these choices?

Question60: A bank compliance officer discovers cash deposit activity inconsistent with the expected and historical cash activity within the personal accounts of the chairman of the board. The cash activity appears structured to avoid the local legal filing requirements for large cash transactions, and a suspicious transaction report (STR) was filed.
How should the compliance officer report the filing of the STR to the board of directors without revealing the existence of the filing to the subject?

Question61: A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at £30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want the purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.
Which red flag should stop the agent from discussing this potential purchase further?

Question62: Which three are principles found in the document "Principles of information Exchange between Financial Intelligence Units (FIUs)"?

Question63: You have an Azure Machine Learning experiment that must comply with GDPR regulations.
You need to track compliance of the experiment and store documentation about the experiment.
What should you use?

Question64: A bank compliance officer has implemented enhanced monitoring rules that have identified some unusual activity that may be indicative of human trafficking.
Which red flag should prompt additional transactional review?

Question65: A financial institution located within the European Union has historically allowed anonymous accounts.
Which of the following is the best method for this institution to use to ensure compliance with the European Union Money LaunderingDirectives?

Question66: A remittance company received a money order from a senior political figure m the Philippines to transfer a large sum of money to a charity group in the Philippines. A review of the charity group revealed a director having dose ties with a known terrorist group primarily financed through kidnapping and extortion.
What is a key risk indicator associated with terrorism financing?

Question67: In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?

Question68: According to the Financial Action Task Force Special Recommendations on Terrorist Financing, what should an anti-money laundering specialist do if the specialist has reasonable grounds to suspect funds are linked or related to terrorist acts?

Question69: Your company recently deployed several hardware devices that contain sensors.
The sensors generate new data on an hourly basis. The data generated is stored on-premises and retained for several years.
During the past two months, the sensors generated 300 GB of data.
You plan to move the data to Azure and then perform advanced analytics on the data.
You need to recommend an Azure storage solution for the data.
Which storage solution should you recommend?

Question70: A local law enforcement officer notifies the bank compliance officer that he is working on an insurance fraud scheme that appears to be running transactions using the account of a bank employee. The law enforcement officer refers to a kiting suspicious transaction report filed by the compliance officer and requests further information.
What action should the compliance officer take?

Question71: Which two methods have terrorist groups used to diversify their revenue stream and to fund their operations?
(Choose two.)

Question72: A large United States (U.S.) bank is performing due diligence on a non-U.S. bank. The non-U.S. bank has applied for a correspondent account at the U.S. bank.
Which two steps should the U.S. bank take under the USA PATRIOT Act? (Choose two.)

Question73: What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?

Question74: Which method do terrorist financiers use to move funds without leaving an audit trail?

Question75: You are designing an AI solution that will analyze millions of pictures by using Azure HDInsight Hadoop cluster.
You need to recommend a solution for storing the pictures. The solution must minimize costs.
Which storage solution should you recommend?

Question76: A law enforcement agency is reviewing a suspicious transaction report (STR) filed by a financial institution for suspicious activity on a client's account. Subsequently, the agency requests further information.
Which supporting documentation might the law enforcement agency request from the institution to facilitate its investigation?

Question77: What is the intentional evasion of a reporting or recordkeeping requirement?

Question78: What is the currency threshold under the European Union Fourth Anti-Money Laundering Directive?

Question79: An anti-money laundering specialist has just developed and implemented an anti-money laundering program. What is the most effective resource to evaluate the effectiveness of the program?

Question80: Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

Question81: A suspicious transaction report filed on a car dealer structuring deposits initiates a criminal investigation. The dealer changes branches and begins placing transactions with a frontline employee to whom the dealer has given numerous gifts.
This employee handles all of the dealer's structured deposits and does not report the suspicious activity internally.
The competent authority has advised the anti-money laundering specialist to avoid tipping off the employee until the investigation is finalized.
What action should the specialist take next?

Question82: Which two factors assist a money laundering investigation that involves multiple countries? (Choose two.)

Question83: In some instances, a financial institution may receive a warrant from law enforcement authorities to search its premises. A search warrant is a grant of permission from a court for a law enforcement agency to search certain designated premises and seize specific categories of items or information. Generally, what is the required threshold for the requesting agency to establish in order to obtain a search warrant of a financial institution?

Question84: A precious metals dealer opens a new account with a bank. Which requires a referral to AML Investigations for further review?

Question85: Which methods are typically used to launder money using insurance companies? (Choose two.)

Question86: How should a financial institution respond to a verbal request from a law enforcement agency to keep an account open to assist in an investigation?

Question87: To ensure that an institution's anti-money laundering program is current, which step should be taken?

Question88: To guard against acquisition or control of a financial institution by money launderers or their associates, supervisory agencies should require

Question89: Which primary international authoritative body designates sanctions?

Question90: Which three entities does the Third European Union Money Laundering Directive apply to?

Question91: A key element required to ensure an anti-money laundering compliance program is effectively embedded into an institution's culture is

Question92: Which three areas do FATF's 40 recommendations cover? Choose 3 answers

Question93: To deter money laundering through new accounts, a financial institution should:

Question94: An anti-money laundering specialist working at a bank just received a legal request from a law enforcement agency mandating the release of all financial transaction records relating to an account at the bank. The specialist immediately recognizes the account as one owned by the bank Chief Executive Officer's brother.
During research to gather the requested documents, the specialist finds several internal memos he had sent to the bank president with concerns regarding possible suspicious activity relating to this account. The specialist recalls the bank president verbally responded to each memo with an explanation of the activity and indicated there was no cause for concern. What should the specialist do with respect to these internal memos?

Question95: A commission regotorie would be used in which gateway to obtain information from another country?

Question96: What are two requirements of United States financial institutions when conducting business with an international financial institution as a result of the USA PATRIOT Act? (Choose two.)

Question97: What are two requirements of United States financial institutions when conducting business with an international institution as a result of the USA PATRIOT Act? (Choose two.)

Question98: A businessman requests a European private bank to open a numbered or alternate name account. According to the Basel Committee on Banking Supervision principles, which of the following is the most important question the banker should ask?

Question99: An AML compliance officer receives notice of government update including the names of the latest
terrorists sanctioned by the United Nations Security Council. Which would be the most appropriate step to take?

Question100: Which two methods have terrorist groups used to diversify their revenue stream and to fund their operations?
(Choose two.)

Question101: What are two risks to institutions for violating anti-money laundering laws as demonstrated by the 2012 HSBC settlement with United States authorities? (Choose two.)

Question102: Which of the following are the most suspicious transaction indicators related to casino activities?

Question103: What is an indicator of suspicious activity?

Question104: A bank maintains a relationship with a customer who owns a small bakery business.
Which customer action indicates potential money laundering?

Question105: What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee's paper on Customer Due Diligence for Banks?

Question106: When requested by law enforcement via legal process to provide records or documentation, what should the officers of financial institution do?

Question107: Normal account-opening procedures reveal a customer who contacted a financial institution to open a bank account is the brother of a prominent member of a foreign judiciary. Which of the following actions should the anti-money laundering specialist recommend immediately?

Question108: Which three do the Office of Foreign Asset Control regulations cover? Choose 3 answers

Question109: The most important concerns imposed on foreign financial institutions maintaining correspondent accounts with
U.S. banks under the USA PATRIOT Act are:

Question110: What can a compliance officer do in the absence of automated software to conduct U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) sanction screens?

Question111: A profitable commercial customer who operates an import-export business has multiple accounts with the same institution at branches m different locations. The customer receives funds from a jurisdiction perceived as highly corrupt according to Transparency International ratings. The customer makes frequent transfers among the accounts and prefers to manage the accounts separately. What should the institution do to mitigate the risk associated with these accounts?

Question112: When an institution receives a document request from law enforcement with regard to an STR that the institution has filed, what should institution do?

Question113: Which three do the Office of Foreign Asset Control regulations cover? Choose 3 answers

Question114: According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professionals include which entities?

Question115: Which function provided by lawyers can be useful to a potential money launderer as documented by FATF in its typology report 2000-2001? Choose 3 answers

Question116: A bank provides trade financing for a company whose primary export is steel.
Which action by the company indicates possible money laundering?

Question117: Which two statements in the Wolfsberg Group's "Suppression of the Financing of Terrorism" define the role financial institutions should play in the fight against terrorism? (Choose two.)

Question118: An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution. Which of the following should be included?
1. A training program for senior management and staff.
2. An anti-money laundering compliance program, internal audit program, and procedure manual.
3. Basel Committee on Banking Supervision's capital adequacy requirements for the host country.
4. Compliance requirements of host and chartering countries.

Question119: Which issue does the FATF special Recommendations on Terrorist Financing address?

Question120: The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information from non-U.S. banks that hold a correspondent account.
Which two pieces of information must a non-U.S. bank provide to its U.S. correspondent to enable them to comply with this requirement? (Choose two.)

Question121: Which two actions should Financial Intelligence Units (FIUs) take when submitting a request to another FIU?
(Choose two.)

Question122: When providing reporting of STRs to the board, which of the following should be provided?

Question123: When an institution files an STR with regard to a particular account, what steps should the institution take visa account?

Question124: After evaluating recent changes to international standards, an anti-money laundering specialist should consider enhanced due diligence on accounts held by:

Question125: After an institution files an STR with regard to a particular account, a law enforcement agent requests the institution to keep the account open until advised otherwise by law enforcement.
What steps should the institution take?

Question126: In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions. Which three businesses and/or professions are covered? Choose 3 answers

Question127: What describes the Black Market Peso Exchange money laundering method?

Question128: Which method is used to launder money via wire remittances sent through a bureau de change or money services business?

Question129: A financial institution in a jurisdiction with currency reporting thresholds is undergoing a branch office compliance review. A large number of currency transactions in amounts exceeding a reporting threshold were discovered without a currency transaction report (CTR) being filed. The transactions were handled by the same teller (cashier). This teller (cashier) was recently hired and had not received anti-money laundering training yet. The branch manager received daily exception reports of all large currency transactions as well as a report of all CTR filings. Which of the following should the compliance officer recommend as the initial action?

Question130: Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are developing an application that uses an Azure Kubernetes Service (AKS) cluster.
You are troubleshooting a node issue.
You need to connect to an AKS node by using SSH.
Solution: You add an SSH key to the node, and then you create an SSH connection.
Does this meet the goal?

Question131: Which three statements are true about on-line banking offering a significant money laundering risk to a financial institution?

Question132: An anti-money laundering specialist has been asked to establish a compliance program to detect and prevent money laundering and terrorist financing. Which of the following should the anti-money laundering specialist consider in developing the program?
1. Funds for money laundering and terrorist financing are derived from illegal sources.
2. Related practices are used to conceal the nature of the funds.
3. The source and disposition of funds are similar.
4. Similar techniques are used to move funds.

Question133: An anti-money laundering specialist notes a significant reduction in suspicious transaction report filings at a particular branch. Which of the following actions is most appropriate?

Question134: Which action should an FIU consider taking when it has information that might be useful to another FIU?

Question135: An AML training program should include which requirement?

Question136: An incoming urgent international wire transfer in U.S. dollars has been identified by the sanctions screening team. The transaction is a large rounded amount and the name of the beneficiary is "North Korean Cigars Company" with an address in an industrial zone in Tianjin, China.
Which action should the sanctions team take?

Question137: Which element is generally required of all anti-money laundering programs?

Question138: What are two sources for maintaining up-to-date sanctions information? (Choose two.)

Question139: Which of the following activities conducted at a financial institution is the strongest example of avoiding reporting thresholds?

Question140: The Board of Directors and the senior management of a financial institution should ensure that which three are established and followed with regard to an effective AML program?

Question141: What are two requirements with respect to supporting documentation that is used to identify potentially suspicious activity, according to Financial Action Task Force? (Choose two.)

Question142: The Basel Committee on Banking Supervision issued a paper in October 2001 in which it presented a Know Your Customer framework and recommended standards applicable to

Question143: What is one of the indicia of a Black Market Peso Exchange?

Question144: According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professionals include which entities?

Question145: The compliance officer for a bank is reviewing on-boarding documents for a new business account for a domestic corporation. The officer is unable to verify the identity of the beneficial owners of the company. Only information on the nominee owners was provided, and none of the listed addresses are local. The purpose of the business and future expected activity were disclosed to include cash letters, money orders and international remittance transfers.
Which red flag identifies a heightened money laundering risk?

Question146: A customer comes into a financial institution and deposits a large amount of cash. He has never done that before. When asked about the deposit, he indicates he recently sold a used car and received cash.
He does not trust forms of payment and is wary of counterfeit money orders. What should the bank do?

Question147: The Board of Directors and the senior management of a financial institution should ensure that which three are established and followed with regard to an effective AML program?

Question148: An anti-money laundering specialist has been asked to establish a compliance program to detect and prevent money laundering and terrorist financing. Which of the following should the anti-money laundering specialist consider in developing the program?

Question149: Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers

Question150: Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are developing an application that uses an Azure Kubernetes Service (AKS) cluster.
You are troubleshooting a node issue.
You need to connect to an AKS node by using SSH.
Solution: You create a managed identity for AKS, and then you create an SSH connection.
Does this meet the goal?

Question151: A banker in the credit department wants to assess the risk of all customers, and contacts the compliance officer to request a list of customers with suspicious transaction report filings.
What should be done to protect suspicious transaction report information?

Question152: A large cash deposit most likely reflects money laundering when it is:
1. from a customer who has never conducted a transaction in cash before.
2. transacted in segments smaller than the reporting thresholds at various times during the day.
3. followed by an immediate wire transfer to an offshore secrecy haven.
4. by a customer who operates a cash-based business.

Question153: AML cooperation between countries consists of which three official gateways?

Question154: You plan to build an application that will perform predictive analytics. Users will be able to consume the application data by using Microsoft Power BI or a custom website.
You need to ensure that you can audit application usage.
Which auditing solution should you use?

Question155: A compliance officer provides an overview of the bank's anti-money laundering program to a group of new tellers during employee orientation.
Which training element should be delivered to this audience?

Question156: The main purpose of the US Treasury Department for OFAC's extraterritorial reach is to:

Question157: Which statement best describes a key aspect of the AML Directive of the EU regarding business relationships and transactions with high-risk third countries?

Question158: What does the Egmont Group's support for its members include?

Question159: In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?

Question160: The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information from non-U.S. banks that hold a correspondent account.
Which two pieces of information must a non-U.S. bank provide to its U.S. correspondent to enable them to comply with this requirement? (Choose two.)

Question161: In order to protect investigative materials from disclosure when conducting an internal Investigation of any employee of a financial institution, legal counsel of that financial should________?

Question162: Upon a routine account review a money laundering investigator identified a number of large round dollar wire transfer deposits into a business account owned by a local auto repair shop. The wire transfers all originated from a country that is a known financial secrecy haven with poor anti-money laundering controls. The investigator concludes there appears to be no legitimate business purpose for the wire transfers and files a suspicious transaction report. The owner of the auto repair shop is popular in the community and is a wellknown philanthropist.
To whom should the investigator escalate these concerns?

Question163: When and how should an institution appraise the AML risk of a newly developed product?
Choose 3 answers

Question164: Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You have Azure IoT Edge devices that generate streaming data.
On the devices, you need to detect anomalies in the data by using Azure Machine Learning models. Once an anomaly is detected, the devices must add information about the anomaly to the Azure IoT Hub stream.
Solution: You expose a Machine Learning model as an Azure web service.
Does this meet the goal?

Question165: A branch manager for a small community bank has a new customer who deposits four EUR 50,000 checks into one account. Shortly thereafter, the customer goes to another branch and asks to transfer all but EUR 1,500 to three accounts in different foreign jurisdictions.
Which suspicious activity should be the focus of the suspicious transaction report?

Question166: A compliance analyst is reviewing recent activity between a publicly traded company and a company in a high risk jurisdiction. Which detail suggests that escalation is warranted?

Question167: What are some of the shortcomings in using letters regulatory? Choose 3 answers

Question168: According to experts, what is the most effective way to prevent money laundering through financial institutions?

Question169: A compliance officer receives a report from the institution's monitoring system. One account was identified in multiple alerts for the amount of cash deposited and international wires sent.
Which two sources of information held within the institution will enable the compliance officer to determine whether the activity should be reported? (Choose two.)

Question170: Federal law requires all U.S. financial institutions to secure and maintain all records and supporting documentation used m suspicious activity reporting for how many years?

Question171: A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan. A law enforcement officer calls the anti-money laundering officer to discuss the suspicious transaction report. Which of the following is the anti-money laundering officer legally permitted to do?
1. Discuss any aspects of the reported activity.
2. Provide copies of the customer's loan documents.
3. Explain the customer's loan payment history.
4. Send the deposit documents referenced in the suspicious transaction report.

Question172: According to experts, what is the most effective way to prevent money laundering through financial institutions?

Question173: The branch manager calls the compliance officer and informs her that a law enforcement officer has just left the branch and was asking a lot of questions and left a business card.
What should the compliance officer do?

Question174: What is the main role of the Egmont Group in combating money laundering and terrorist financing?

Question175: A compliance officer at a large financial institution has been tasked by senior management to lead a team in an internal review and potential revision of the institution's customer onboarding program following a regulatory enforcement action of another institution.
Which step should the compliance officer perform first?

Question176: Which statement about U.S. Specified Unlawful Activities (SUA) is true?

Question177: A compliance officer is developing an anti-money laundering program for a financial institution located in a Financial Action Task Force member country. The institution conducts business with customers located in countries/jurisdictions that are not members of Financia Action Task Force. Which of the following issues should be addressed in the program?

Question178: How should a financial institution deter money laundering through new accounts? Choose 3 answers

Question179: What is the most effective criterion for determining the beneficial ownership of funds?

Question180: The Wolfsberg Anti-Money Laundering Principles for Private Banking require new clients to be approved by whom?

Question181: What is the primary action a financial institution should take before formulating its anti-money laundering program?

Question182: One key aspect of the Office of Foreign Assets Control's extraterritorial reach includes the blocking of certain non-United States initiated transactions for or through the United States (U.S.) for benefit of a restricted person or entity.
Under which three circumstances are U.S. banks required to block transactions? (Choose three.)

Question183: On who does the ultimate responsibility for an institution's anti-money laundering program rest?

Question184: A branch manager for a small community bank has a new customer who deposits for EUR 50,000 checks into one account. Shortly thereafter, the customer goes to another branch and asks to transfer all but EUR 1,500 to three accounts in different foreign jurisdictions.
Which suspicious activity should be the focus of the suspicious transaction report?

Question185: You plan to design an application that will use data from Azure Data Lake and perform sentiment analysis by using Azure Machine Learning algorithms.
The developers of the application use a mix of Windows- and Linux-based environments. The developers contribute to shared GitHub repositories.
You need all the developers to use the same tool to develop the application.
What is the best tool to use? More than one answer choice may achieve the goal.

Question186: In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?

Question187: A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, had totaled about as much as the customer intended to deposit. What should the junior account manager do?

Question188: Which three are the most commonly used risk criteria?

Question189: When creating an anti-money laundering program for a foreign bank with branches in the United States, which of the following are included among the four minimum elements required under the USA PATRIOT Act?

Question190: A financial institution opens a mortgage loan for a customer. During a subsequent internal review of the loan, it was noted that the appraisal used to support the loan was performed by an appraiser who was not on the institution's approved appraiser list. This exception was approved by the senior loan underwriter. The reviewer, who had examined other loans from the same general area, noted that the value on the loan appeared significantly higher than on other comparable properties. Which of the following should the anti-money laundering specialist recommend next?

Question191: Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

Question192: A government has instituted new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.
Which step should an institution located in this jurisdiction take to ensure compliance?

Question193: An anti-money laundering expert is hired by a new Internet bank to assess the money laundering threat to the bank. Because it is an o line bank the most important recommendation for the expert to make is that the bank

Question194: Which of the following is among the Financial Action Task Force criteria defining non-cooperative countries and territories?

Question195: A compliance officer is looking to update an institution's private bank procedures. What should be included as recommended by the Wolfsberg AML Principles on Private Banking?

Question196: An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier m the year. The customer received weekly electronic fund transfers from a narcotic-producing jurisdiction. While the relationship manager who opened the account is on leave for 5 weeks, the customer requests that the institution remit a substantial sum to a country that represents a high risk of money laundering. The relationship manager is a friend of the anti-money laundering specialist.
What should the anti-money laundering officer do first?

Question197: In establishing procedures for the review of suspicious transactions and filling of STRs, what thing should an institution focus on?

Question198: In reviewing recent activity, a compliance officer for a money transmitter that several customers are each remitting the same amount of money but much more frequently.
How should the institution respond?

Question199: In which three situations is correspondent banking most vulnerable to money laundering? Choose 3 answers

Question200: What should a compliance officer do during an ongoing investigation into a client's activities by a competent authority?

Question201: On who does the ultimate responsibility for an institution's anti-money laundering program rest?

Question202: An AML compliance officer receives notice of government update including the names of the latest terrorists sanctioned by the United Nations Security Council. Which would be the most appropriate step to take?

Question203: What do the Financial Action Task Force (FATF) mutual evaluations of each member assess?

Question204: An institution receives a request for credit from a local company that has been a client for many years. The information provided by the company indicates that its assets have increased substantially with the addition of several new subsidiaries. Further research performed by the institution indicates the new subsidiaries are recently created shell companies.
Could this indicate potential money laundering?

Question205: Which method to launder money through deposit-taking institutions is closely associated with international trade?

Question206: Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

Question207: An internal investigation log is primarily intended to:

Question208: What are the regulatory risks to a bank employee who willfully violates anti-money laundering laws?

Question209: What is a key objective of the Egmont Group?

Question210: A new compliance officer is reviewing the bank's anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, renamed the internal records group, and streamlined cash handling procedures.
Which factor causes the compliance officer to update the bank's risk assessment?

Question211: A client is a wholesale auto business that operates as a used car lot. The client regularly ships vehicles internationally. In a four-month period, the client received wires totaling $ 1,250,000 from a dealer in Benin in West AfricA. All wires originated from Benin and were in increments of $50,000.
Account debits made to the account were payable to various transport companies. All incoming checks reference various vehicles purchased. Dock shipping receipts produced by the client to support account activity identify the vehicles but cannot easily be tied to the wires receives.
What is the suspicious behavior?

Question212: A bank provides trade financing for a company whose primary export is steel.
Which action by the company indicates possible money laundering?

Question213: What does the Financial Action Task Force (FATF) urge its members and all other jurisdictions to do when a jurisdiction is identified as having lax anti-money laundering / counter financing of terrorism controls?

Question214: One key aspect of the Office of Foreign Assets Control's extraterritorial reach includes the blocking of certain non-United States initiated transactions for or through the United States (U.S.) for benefit of a restricted person or entity.
Under which three circumstances are U.S. banks required to block transactions? (Choose three.)

Question215: An offshore company is owned by four equal partners that reside in separate jurisdictions. One partner presents an authenticated power of attorney apparently executed by the remaining three partners in his favor and requests that a bank account be opened on behalf of all partners. He needs this done quickly because there is a large deposit pending. The account-opening officer contacts the bank's anti-money laundering officer for advice. Which of the following should the anti-money laundering officer advise as an initial step?

Question216: An anti-money laundering specialist working at a bank just received a legal request from a law enforcement agency mandating the release of all financial transaction records relating to an account at the bank. The specialist immediately recognizes the account as one owned by the bank Chief Executive Officer's brother. During research to gather the requested documents, the specialist finds several internal memos he had sent to the bank president with concerns regarding possible suspicious activity relating to this account. The specialist recalls the bank president verbally responded to each memo with an explanation of the activity and indicated there was no cause for concern. What should the specialist do with respect to these internal memos?

Question217: Which two statements are true regarding the European Union Money Laundering Directives? (Choose two.)

Question218: Which two individuals are ordinarily beneficial owners of a private banking account according to the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

Question219: Under which two circumstances may law enforcement be given access to a financial institution customer's financial records? (Choose two.)

Question220: Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)

Question221: Which two mechanisms should be implemented to assist with cross-border money laundering investigations?
(Choose two.)

Question222: Which of the following customer transactions with a securities dealer would indicate the highest suspicion of money laundering?

Question223: The findings of an internal audit discover that a large group of employees do not know how to handle Politically Exposed Persons (PEPs). Which is the next course of action that should be taken?

Question224: A company service provider in Country A sets up a corporate structure for a client from Country B, which is known for corruption. The corporate structure includes a holding company in Country A with a bank account in one of the international banks located there.
During on-boarding, the client's wealth was estimated at $7 million. Shortly thereafter, the client's father became president of Country B.
During a routine client review two years later, it was identified that client's wealth had grown to $510 million.
What are two red flags that indicate money laundering or financial terrorism? (Choose two.)

Question225: A customer comes into a financial institution and deposits a large amount of cash. He has never done that before. When asked about the deposit, he indicates he recently sold a used car and received cash.
He does not trust forms of payment and is wary of counterfeit money orders. What should the bank do?

Question226: A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank's jurisdiction.
Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)

Question227: What are some useful tools or methods in conducting an internal AML investigation? Choose 3 answers

Question228: You are developing a mobile application that will perform optical character recognition (OCR) from photos.
The application will annotate the photos by using metadata, store the photos in Azure Blob storage, and then score the photos by using an Azure Machine Learning model.
What should you use to process the data?

Question229: A financial institution receives a regulatory enforcement action because of deficiencies in its anti-money laundering program.
Which action should the board of directors take?

Question230: A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at E30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want to purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.
Which red flag should stop the agent from discussing this potential purchase further?

Question231: A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the customer base.
Which two courses of action should the compliance officer include in the institution's procedures for considering PEPs as customers? (Choose two.)

Question232: Which is the main objective when a financial institution (FI) conducts an investigation?

Question233: Which of the following provides anti-money laundering specialists information related to money laundering trends?

Question234: In the summer, an institution identifies anti-money laundering concerns regarding a customer's account activity. The customer, an ice cream parlor, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.
Which two transaction types warrant investigation? (Choose two.)

Question235: What is the main role of the Egmont Group in combating money laundering and terrorist financing?

Question236: A financial institution receives a regulatory enforcement action because of deficiencies in its anti-money laundering program.
Which action should the board of directors take?

Question237: A money transmitter's nation-wide agent network remits funds to a country in Africa on behalf of an immigrant community based in the United States. A terrorist group is known to operate openly in this African country. In reviewing transaction records, the compliance officer detects a pattern where two customers together visit the same agent each week and remit the same amount of funds. $2,500, to the same recipient in the country in Africa.
What should alert the compliance officer to possible money laundering or terrorist financing activity by the two customers?

Question238: A quarterly review is conducted on a retail customer's account at a bank located in a jurisdiction with currency reporting thresholds. A number of large deposits of financial instruments drawn on other institutions in amounts under thresholds were noted. This activity did not fit the account's historical profile. A suspicious transaction report will most likely be filed if what also occurred?

Question239: What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?

Question240: Since its last regulatory examination, a financial institution has aggressively grown by adding profitable new products and services. The institution has not historically received regulatory criticism regarding its anti-money laundering compliance program. However, a recent regulatory examination cited significant deficiencies in the anti-money laundering program that were attributed primarily to the lack of oversight by the institution's leadership in implementing adequate controls over the new products and services.
Which area of international control should leadership first address to correct the weaknesses in the program?

Question241: Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?

Question242: How does the Financial Action Task Force (FATF) communicate its findings regarding jurisdictions with strategic anti-money laundering / Counter Financing of Terrorism deficiencies?

Question243: Which two mechanisms should be implemented to assist with cross-border money laundering investigations? (Choose two.)

Question244: What are some red flags financial institutions should be aware of when trying to verify the identity of a customer? Choose 3 answers

Question245: In which two ways does a government Financial Intelligence Unit interact with public and private sectors? (Choose two.)

Question246: Which three conduits for moving terrorist-related funds do terrorist financing generally favor? Choose 3 answers

Question247: What is a major money laundering risk associated with a number of prepaid cards as opposed to credit or debit cards?

Question248: On what basis are international sanctions imposed against entities?

Question249: What is an example of a legal risk a financial institution (FI) could face if it is sanctioned for failure to report suspected fraud activity?

Question250: Which statement is true regarding the FATF standards for SARs/STRs information sharing within a financial group?

Question251: According to the Basel Committee on Banking Supervision, banks should deal with high-risk customers by:

Question252: What are the regulatory risks to a bank employee who willfully violates anti-money laundering laws?

Question253: An individual opens an e-account in an off-shore gambling website using non-documentary verification and creates an e-wallet on a mobile device. In order to add funds to the account, the individual uses a credit card, wire transfers, cryptocurrency, and a money service business. Which source of money represents more risk of money laundering?

Question254: An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the following item s should be delivered?

Question255: Which method is used to launder money via wire remittances sent through a bureau de change or money services business?

Question256: An anti-money laundering specialist at a large institution is responsible for informing senior management about the status of the anti-money laundering program across the organization. The global institution handles retail banking, commercial banking, global markets, private banking and has an affiliated securities dealer.
The specialist and the team provide corporate strategic direction to these areas on anti-money laundering related subjects. The following information is reported to executive management on a regular basis:
* Total number of suspicious transactions identified and reported
* Suspicious transaction trends
* Training that has occurred for the various units
* Status report on the anti-money laundering regulatory environment
* Summary of exception reports
Which of the following additional elements is the most useful?

Question257: A compliance officer at a small local bank reads in the newspaper that a high ranking local public official, who is a long-standing account holder, is being investigated by the competent authorities for accepting bribes. The compliance officer immediately checks the official's account and new account the official opened at the bank a few weeks ago. The compliance officer's investigation of these accounts discloses that the official's long-standing account had no unusual activity and that the recently opened had no activity since it was opened. What should the compliance officer do next?

Question258: A customer has held an account at a bank and has lived locally for over 25 years. Historically he has come into the bank monthly to deposit a $1,500 retirement check from the company where he worked. He is well known at the bank and often brings the staff cookies. Over the past four months, he has come into the bank every Monday, Wednesday, and Thursday to make $3,000 cash deposits into his account. A review of his account shows that an $8,500 check made out to cash clears his account each week. The bank has decided to file a suspicious transaction report (STR).
What is the important fact to include in the STR?

Question259: An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution. Which of the following should be included?

Question260: When an institution conducts an internal investigation into an account following a law enforcement inquiry, it should consider a number of factors to independently determine if the account should be dosed. Which three considerations should be made when making the determination about closing an account? Choose 3 answers

Question261: Which three characteristics make non-profit organizations vulnerable to misuse for terrorist financing?

Question262: What does the Basel Committee's Customer Due Diligence for Banks paper suggest that a bank needs to have in place when establishing an account for a corporate business entity?

Question263: What should a compliance officer do during an ongoing investigation into a client's activities by a competent authority?

Question264: What are three indicators of money laundering associated with using electronic funds transfers? Choose 3 answers

Question265: An institution has made the decision to exit a client relationship due to anti-money laundering concerns. Prior to starting the close out process, the institution receives a written request from a law enforcement agency to keep the account open. The client is the subject of an ongoing investigation and law enforcement wants the institution to continue to monitor the account and report any suspicious activity.
What is a primary consideration the institution should keep in mind when deciding whether to agree to this request?

Question266: A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, that totaled about as much as the customer intended to deposit.
What should the junior account manager do?

Question267: What action should a bank CEO's assistant take when the bank CEO expenses large sums of money to a charitable organization run by the bank CEO's direct family member?

Question268: In some instances, a financial institution may receive a warrant from law enforcement authorities to search its premises. A search warrant is a grant of permission from a court for a law enforcement agency to search certain designated premises and seize specific categories of items or information. Generally, what is the required threshold for the requesting agency to establish in order to obtain a search warrant of a financial institution?

Question269: What should an effective anti-money laundering training program include?

Question270: Which three methods are commonly used by an accountant to launder money? (Choose three.)

Question271: To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?

Question272: What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers

Question273: How should a compliance officer respond to law enforcement agencies' request for information on a customer undergoing an investigation?

Question274: A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, that totaled about as much as the customer intended to deposit.
What should the junior account manager do?

Question275: The marketing department presents a business plan targeting individuals holding important public positions. What are some steps the financial institution should implement as part of the plan to target such individuals?

Question276: Law enforcement submitted a request to a bank for information regarding one of its customers.
How should the bank respond according to Financial Action Task Force Guidance?

Question277: A banker in the credit department wants to assess the risk of all customers, and contacts the compliance officer to request a list of customers with suspicious transaction report filings.
What should be done to protect suspicious transaction report information?

Question278: Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?

Question279: According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professionals include which entities?

Question280: You plan to deploy an AI solution that tracks the behavior of 10 custom mobile apps. Each mobile app has several thousand users.
You need to recommend a solution for real-time data ingestion for the data originating from the mobile app users.
Which Microsoft Azure service should you include in the recommendation?

Question281: In reviewing recent activity, a compliance officer for a money transmitter that several customers are each remitting the same amount of money but much more frequently.
How should the institution respond?

Question282: Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are developing an application that uses an Azure Kubernetes Service (AKS) cluster.
You are troubleshooting a node issue.
You need to connect to an AKS node by using SSH.
Solution: You change the permissions of the AKS resource group, and then you create an SSH connection.
Does this meet the goal?

Question283: A comprehensive set of risk-based guidelines for maintaining business relationships is being developed.
Which situation indicates that the institution should terminate the relationship with a client?

Question284: A relationship manager in a bank has had a private banking customer for 10 years. The customer has business accounts and investments and seeks advice on the creation of a company overseas. The relationship manager refers the customer to the commercial banking manager and vouches for the customer. Which of the following risk factors is the most important?

Question285: Law enforcement submitted a request to a bank for information regarding one of its customers.
How should the bank respond according to Financial Action Task Force Guidance?

Question286: A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.
What are two red flags that may indicate money laundering? (Choose two.)

Question287: What might limit a compliance officer's ability to respond to a foreign law enforcement official's request to provide information with regard to an anti-money laundering investigation?

Question288: Which aspect of the USA PATRIOT Act impacts foreign financial institutions?

Question289: A client is a wholesale auto business that operates as a used car lot. The client regularly ships vehicles internationally. In a four-month period, the client received wires totaling $1,250,000 from a dealer in Benin in West Africa. All wires originated from Benin and were in increments of $50,000.
Account debits made to the account were payable to various transport companies. All incoming checks reference various vehicles purchased. Dock shipping receipts produced by the client to support account activity identify the vehicles but cannot easily be tied to the wires received.
What is the suspicious behavior?

Question290: Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?

Question291: The compliance officer for a private bank has been tasked with writing a policy on how the bank will deal with intermediaries.
Which two aspects should be included in the policy in respect of intermediaries to align it with the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

Question292: A government has instituted new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.
Which step should an institution located in this jurisdiction take to ensure compliance?

Question293: What is the primary action a financial institution should take before formulating its anti-money laundering program?

Question294: Which action does the Financial Action Task Force (FATF) recommend be taken against jurisdictions that have strategic deficiencies?

Question295: A non-U.S. bank wants to open an account at Bank A, which is a U.S.-based bank.
Which information must Bank A obtain under the USA PATRIOT Act?

Question296: What was the topic the Wolfsberg Group's first guidance addressed?

Question297: Which two statements about the Wolfsburg Group are true?

Question298: Why is the Mutual Legal Assistance Treaty (MLAT) a gateway for international cooperation?

Question299: A quarterly review is conducted on a retail customer's account at a bank located in a jurisdiction with currency reporting thresholds. A number of large deposits of financial instruments drawn on other institutions in amounts under thresholds were noted. This activity did not fit the account's historical profile. A suspicious transaction report will most likely be filed if which of the following also occurred?

Question300: Your company plans to develop a mobile app to provide meeting transcripts by using speech-to-text. Audio from the meetings will be streamed to provide real-time transcription.
You need to recommend which task each meeting participant must perform to ensure that the transcripts of the meetings can identify all participants.
Which task should you recommend?

Question301: What was cited by the Wolfsberg Group in its Statement on the Suppression of the Financing of Terrorism as being vulnerable to terrorist financing?

Question302: Which is a FATF characteristic used to assess a country's effectiveness of its AML regime?

Question303: CORRECT TEXT
According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions?
1.Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500.
2.Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral.
3.A ptfiisiui i Ll idL pr uviJcfb lelir emei it bei lefils Lu employees.
4.Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.

Question304: An institution receives a request for credit from a local company that has been a client for many years. The information provided by the company indicates that its assets have increased substantially with the addition of several new subsidiaries. Further research performed by the institution indicates the new subsidiaries are recently created shell companies.
Could this indicate potential money laundering?

Question305: Which three characteristics make non-profit organizations vulnerable to misuse for terrorist financing?

Question306: A quarterly review is conducted on a retail customer's account at a bank located in a jurisdiction with currency reporting thresholds. A number of large deposits of financial instruments drawn on other institutions in amounts under thresholds were noted. This activity did not fit the account's historical profile. A suspicious transaction report will most likely be filed if what also occurred?

Question307: A recent anti-money laundering audit revealed several regulatory reporting violations and lapses with the organization's anti-money laundering policy. As a result, the compliance officer has created a follow-up matrix to document progress in correcting the identified deficiencies.
To whom should the compliance officer provide regular updates of corrective action to help ensure the appropriate oversight?

Question308: In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?

Question309: You need to build a solution to monitor Twitter. The solution must meet the following requirements:
* Send an email message to the marketing department when negative Twitter messages are detected.
* Run sentiment analysis on Twitter messages that mention specific tags.
* Use the least amount of custom code possible.
Which two services should you include in the solution? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

Question310: A politically exposed person (PEP) maintains an account at a bank. Last month a money laundering analyst filed a suspicious transaction report about unusual wire deposits originated by unknown individuals in the home country of the official. Recently a negative news search revealed political corruption in the home country of the official.
To whom should this situation be escalated?

Question311: A Money Laundering Reporting Officer's (MLRO) lack of action led to deficiencies in the bank's AML program and a civil monetary penalty being levied against the MLRO. Why was this direct action taken against the MLRO?

Question312: Which measure to mitigate risk does the Basel Committee's Customer Due Diligence Principles suggest banks apply when accepting business from non-face-to-face customers?

Question313: Which three procedures should a compliance officer looking to revise an institution's CTF efforts include in accordance with the Wolfsburg Group's Statement on the Suppression of the Financing of Terrorism?

Question314: A client opens a bank account for a multi-level marketing company. The debits and credits of the account are numerous and very involved. Further, there are a lot of international transactions. Also, funds are being tunneled from the company to the client's personal account in another jurisdiction.
Which two steps should law enforcement take in investigating this matter? (Choose two.)

Question315: Under requirements for correspondent accounts in the USA PATRIOT Act, the word "certification" refers to a written representation by a

Question316: Which situation is the highest risk for money laundering and terrorist financing activity?

Question317: A compliance officer was recently reviewing transactional data for an international charity and found transactions that present a higher risk.
Which reason is cause for terminating the banking relationship?

Question318: You are designing a solution that will use the Azure Content Moderator service to moderate user-generated content.
You need to moderate custom predefined content without repeatedly scanning the collected content.
Which API should you use?

Question319: An internal review of anti-money laundering training documentation revealed only new agents employed by a financial institution that sells life insurance products were trained. Additionally, it typically took the institution
8 months to begin training for new actuaries. The compliance officer explained training was limited to actuaries because they perform the only high-risk function. The institution relied on e-learning techniques without follow- up assessment.
Which of the following issues would the internal review most likely recommend?

Question320: What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers

Question321: When creating an anti-money laundering program for a foreign bank with branches in the United States, which of the following are included among the four minimum elements required under the USA PATRIOT Act?
1. The development of a Know Your Customer program.
2. An ongoing employee training program.
3. The designation of a compliance officer.
4. An independent audit function to test the program.

Question322: After an institution files an STR with regard to a particular account, a law enforcement agent requests the institution to keep the account open until advised otherwise by law enforcement.
What steps should the institution take?

Question323: A bank has maintained an account for a European charity for several years. The charity provides clothing to persons in need in various countries with active terrorists' cells.
Which action by the charity indicates possible terrorist financing?

Question324: After review of the financial institution's enterprise-wide anti-money laundering risk assessment, the new compliance officer identifies several deficiencies that need attention.
Which deficiency could lead to the highest potential for unmitigated risk?

Question325: A local law enforcement officer, who is conducting a criminal investigation, requests information about a customer.
Which two actions should the bank take? (Choose two.)

Question326: In reviewing recent transaction activity, a compliance officer for a money transmitter notices that several customers are each remitting the same amount of money but much more frequently.
How should the institution respond?

Question327: When a regulatory body requires international assistance in a money laundering inquiry, such assistance is typically obtained by

Question328: Which is a red flag for funds transfers?

Question329: Which method to launder money through deposit-taking institutions is closely associated with international trade?

Question330: A government has instituted a new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.
Which step should an institution located in this jurisdiction take to ensure compliance?

Question331: A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account owned by Foreign Bank A, a number of transactions appear to have been originated by Foreign Bank B outside the expected activity for this account. These transactions appear suspicious and a suspicious transaction report was filed by the compliance officer.
Which step should the compliance officer take?

Question332: To ensure that an institution's anti-money laundering program is current, which step should be taken?

Question333: A startup virtual currency exchange has registered as a money services business and will commence operations in six months. The company will provide digital wallets to customers to hold their virtual currency after purchase. Customers will have the option to conduct purchases of the virtual currency and transfer the currency to and from the digital wallet. The startup must develop an anti-money laundering compliance program prior to launch.
Which two anti-money laundering responsibilities should be considered before business launch? (Choose two.)

Question334: In which two ways does a government Financial Intelligence Unit interact with public and private sectors?
(Choose two.)

Question335: The Basel Committee on Banking Supervision issued a paper in October 2001 in which it presented a Know Your Customer framework and recommended standards applicable to

Question336: Which action should an FIU consider taking when it has information that might be useful to another FIU?

Question337: Which three areas do FATF's 40 recommendations cover? Choose 3 answers

Question338: What are two sources for maintaining up-to-date sanctions information? (Choose two.)

Question339: A bank has maintained an account for a European charity for several years. The charity provides clothing to persons in need in various countries with active terrorists' cells.
Which action by the charity indicates possible terrorist financing?

Question340: In which situation can money laundering adversely affect a country's currencies and interest rates due to launderers investing dirty funds?

Question341: An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which three items should be delivered?

Question342: In order to protect investigative materials from disclosure when conducting an internal Investigation of any employee of a financial institution, legal counsel of that financial should ____________?

Question343: In relationship to life insurance business, the third European Directive states that Member States may allow the identity verification of the beneficiary under the policy after the business relationship has been established, but before which events?

Question344: The purpose of an anti-money laundering program should be to do what?

Question345: A law enforcement official calls a bank inquiring about a customer who is currently under investigation. The law enforcement official requests information about the customer.
How should the bank respond?

Question346: A compliance officer at a large financial institution has been tasked by senior management to lead a team in an internal review and potential revision of the institution's customer onboarding program following a regulatory enforcement action of another institution.
Which step should the compliance officer perform first?

Question347: Which three are best practices for embedding compliance into an institution's culture? Choose 3 answers.

Question348: The most effective tool used to detect structured transactions is

Question349: Why do government entities around the world believe that a risk-based approach to AML/CFT compliance is a preferable prescriptive measure?

Question350: Which key aspect of the Office of Foreign Assets Control's extraterritorial reach specifically relates to prohibited transactions?

Question351: You plan to deploy two AI applications named AI1 and AI2. The data for the applications will be stored in a relational database.
You need to ensure that the users of AI1 and AI2 can see only data in each user's respective geographic region. The solution must be enforced at the database level by using row-level security.
Which database solution should you use to store the application data?

Question352: Which key aspect of the Office of Foreign Assets Control's extraterritorial reach specifically relates to prohibited transactions?

Question353: During an ongoing investigation into a client's activities by a competent authority, a compliance officer should

Question354: The marketing department presents a business plan targeting individuals holding important public positions.
What are some steps the financial institution should implement as part of the plan to target such individuals?

Question355: Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking?
Choose 3 answers.

Question356: In performing a risk analysis, which factor(s) should a financial institution review?

Question357: A bank located in Arizona is considering a loan application for a new client. The collateral for the loan is a property in Florida.
The loan will be in the name of a limited liability company (LLC) whose ownership is not disclosed to the bank.
The LLC was established by a New York-based attorney.
The loan will be repaid by the LLC in monthly wire transfers of $9,000 which is more than the required monthly payment.
Which aspect indicates the potential for money laundering?

Question358: During an ongoing investigation into a client's activities by a competent authority, a compliance officer should

Question359: When creating an anti-money laundering program for a foreign bank with branches in the United States, which of the following are included among the four minimum elements required under the USA PATRIOT Act?
1. The development of a Know Your Customer program.
2. An ongoing employee training program.
3. The designation of a compliance officer.
4. An independent audit function to test the program.

Question360: A bank customer operates a fuel station as a sole proprietorship. The customer places deposits and other credits in a business account. The customer routinely transfers money from the business account to a brokerage account where he invests in money market securities. The customer also routinely makes monthly transfers to a credit card and line of credit to pay off balances. The volume of activity flowing through the business account has doubled in the past 3 months. An internal investigator reviews business account statements and credit card activity for the past 3 months, scans media articles about the customer, and interviews the account officer about the customer and account activity. This internal investigation did not provide an explanation for the increased activity1. Which of the following should the anti-money laundering specialist recommend to the internal investigator?

Question361: Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

Question362: A compliance officer is looking to modify procedures covering correspondent banking relationships. Which three would be recommended under the Wolfsburg Principles on Correspondent Banking? Choose 3 answers

Question363: You plan to deploy Azure IoT Edge devices that will each store more than 10,000 images locally and classify the images by using a Custom Vision Service classifier.
Each image is approximately 5 MB.
You need to ensure that the images persist on the devices for 14 days.
What should you use?

Question364: Which three areas do FATF's 40 recommendations cover? Choose 3 answers

Question365: A bank customer operates a fuel station as a sole proprietorship.
The customer places deposits and other credits in a business account.
The customer routinely transfers money from the business account to a brokerage account where he invests in money market securities.
The customer also routinely makes monthly transfers to a credit card and line of credit to pay off balances.
The volume of activity flowing through the business account has doubled in the past 3 months.
An internal investigator reviews business account statements and credit card activity for the past 3 months, scans media articles about the customer, and interviews the account officer about the customer and account activity.
This internal investigation did not provide an explanation for the increased activity1.
Which of the following should the anti-money laundering specialist recommend to the internal investigator?

Question366: A periodic review of the account of a small household goods business reveals multiple shipments of goods to a country classified by the bank as high risk. They were transshipped through another country prior to the final destination. In the past three months, volumes over 25,000 units. The business has been a customer of a bank for 10 years.
Records show previous shipments to destinations primarily in Europe involving quantities of 5,000 units or less.
Recent shipments are listed as being received by the same company as the earlier shipments and payments are being received from the same originator, but the unit price of the goods is three times higher than before.
Which two red flags indicate potential trade-based money laundering? (Choose two.)

Question367: You need to evaluate trends in fuel prices during a period of 10 years. The solution must identify unusual fluctuations in prices and produce visual representations.
Which Azure Cognitive Services API should you use?

Question368: Why do governments and multi-national bodies impose economic sanctions?

Question369: Which two individuals are ordinarily beneficial owners of a private banking account according to the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

Question370: A commission regotorie would be used in which gateway to obtain information from another country?

Question371: What must be materially true regarding transactions for United States (U.S.) sanctions laws to have jurisdiction?

Question372: Which step should be taken to understand the types of financial institutions to whom the services are being offered when a correspondent bank permits "nested" relationships according to the Wolfsberg Group?

Question373: An anti-money laundering officer for a financial institution has been conducting a monthly self assessment.
The officer reviews the accounts increase in compliance with a long standing know your Customer policy. The self-assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year. What is the nest course of action for the anti-money laundering officer to take?

Question374: Historically, a tour guide has made monthly cash deposits averaging $10,000. Over the past three months, the monthly deposits have averaged $100,000. When the financial institution questions the increased deposits, the tour guide explains that there have been numerous conventions in town so business has increased substantially.
Which further action(s) should the financial institution take?

Question375: A national Financial Intelligence Unit, which is responsible for receiving, analyzing and disseminating disclosure of financial information, should consider becoming a member of what organization?

Question376: A compliance officer at an insurance company has been reviewing the transaction activity of several clients.
Which transaction is considered a red flag for potential money laundering?

Question377: Which three methods are commonly used by an accountant to launder money? (Choose three.)

Question378: Why do government entities around the world believe that a risk-based approach to AML/CFT compliance is a preferable prescriptive measure?

Question379: An incoming urgent international wire transfer in U.S. dollars has been identified by the sanctions screening team. The transaction is a large rounded amount and the name of the beneficiary is "North Korean Cigars Company" with an address in an industrial zone in Tianjin, China.
Which action should the sanctions team take?

Question380: What is suspicious activity or red flag with regard to a customer's activity? Choose 3 answers

Question381: When should new business products to evaluate for AML concerns?

Question382: Which of the following provides anti-money laundering specialists information related to money laundering trends?
1. Egmont Group's 100 Cases
2. Financial Action Task Force Typologies
3. FinCEN's SAR Activity Review
4. The Wolfsberg Principles

Question383: What should senior management do in order to promote a culture of anti-money laundering compliance?

Question384: Which of the following represents the first Financial Action Task Force initiative?

Question385: Which situation is the highest risk fr money laundering and terrorist financing activity?

Question386: What is the result of an increased awareness of the potential for gatekeepers to assist in money laundering in recent years?