Question 1

Tax _________ is illegal and is considered a predicate offense for money laundering. A predicate offense is a component part of a more serious crime.

Options :

A : Evasion

B : Avoidance

Answer: A

Question 2

What terms does the Financial Action Task Force to describe innovative technology used to swiftly transfer value around the world? (SELECT 5)

Options :

A : Currency

B : Virtual Asset

C : Blockchain

D : Virtual currency

E : Interlink

F : Cypto

G : Bitcoin

Answer: A,B,C,D

Question 3

The overall customer risk rating is usually derived as a composite of the following four categories of risk in money laundering prevention. What are the those four?

Options :

A : Client, Jurisdiction, Selected Products, and Channel.

B : Customer, Jurisdiction, Product, and Channel.

C : Customer, Jurisdiction, Product, and Sub-Channel.

D : Client, Jurisdiction, Product, and Sub-Channel.

Answer: B

Question 4

When is Enhanced Due Diligence (EDD) used?

Options :

A : Financial Institutions use EDD only when the geographical trigger event.

B : Financial Institutions use EDD only when the product trigger event.

C : If lower risk of easy to assess.

D : if higher risk or difficult to assess.

Answer: D

Question 5

What corporate vehicles can a money launderer hide behind, where it is difficult to identify the beneficial owner? (SELECT 4)

Options :

A : Trusts.

B : Shell companies.

C : Private investment companies.

D : Regulated investment advisors

E : Sole Proprietors.

Answer: A,B,C

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