Question 1

Which of the following are the wide ranges of activities related to the technical assistance component of the Global Program against Money Laundering (GPML)?

Options :

A : GPML-s wide range of activities includes reviewing legal and institutional AML/CFT frameworks.

B : GPML-s wide range of activities includes assisting in the drafting or upgrading of legislation and related regulations.

C : GPML-s wide range of activities includes ensuring that the necessary AML/CFT mechanisms are put in place and are efficiently implemented.

D : GPML-s wide range of activities includes fostering the awareness, understanding and implementation of best practices in the regulation of financial services.

E : GPML-s wide range of activities includes conducting training workshops and seminars for law enforcement agencies, regulatory bodies, central banks, the banking and finance sector and the judiciary.

Answer: A,B,C,D

Question 2

What is the level of the chief audit executive in the organizational structure?

Options :

A : One level below the chief executive officer

B : One level above the chief executive officer

C : Two levels below the chief executive officer

D : Two levels above the chief executive officer

Answer: A

Question 3

When conducting due diligence program for foreign correspondent accounts, what are the things and measures that have to be taken?

Options :

A : Risk-based.

B : Specific.

C : Appropriate.

D : Holistic.

Answer: A,B,C

Question 4

What is the percentage of all international transfer of funds by the Clearing House Interbank Payment System (CHIPS) among 52 banks in 23 countries every day?

Options :

A : The CHIPS handles 50% of all international transfers.

B : The CHIPS handles 30% of all international transfers.

C : The CHIPS handles 25% of all international transfers.

D : The CHIPS handles 95% of all international transfers.

E : The CHIPS handles 85% of all international transfers.

Answer: D

Question 5

Which of these statements defines the frequency of the existing customers’ screening?

Options :

A : FinCen policy

B : Sanction screening policy

C : PATRIOT Act

D : OFAC policy

Answer: B

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