Anti-Money Laundering — What You Need to Know Exit Questionnaire (UT 41866)

The ultimate goal of money laundering (i.e., transforming dirty money into clean money), is to:

If Marco were to engage in a money laundering scheme, he would be least likely to use:

Under the Corporate Transparency Act, “reporting companies” must report what information to FinCEN?

A shell company has which of the following?

A shell company established and used for legal purposes will exist to do which of the following?

Joe hired Andrew as a director of his shell company so Andrew could submit filings and register the company with the SEC under his name, rather than Joe’s. What term BEST defines Andrew’s relationship with Joe?

The financial investigative unit of the United States is the ____, which safeguards the U.S., financial system from illicit use, combats money laundering and the financing of terrorism and promotes national security.

What U.S. government agency imposes economic and trade sanctions on foreign countries, terrorists, individuals, and organizations that pose a threat to the United States?

Which of the following is NOT a requirement for an individual to be convicted of the crime of money laundering?

All the following felonies are considered a “specified unlawful activity” under Section 1956, EXCEPT:

Miguel is required to file a FinCEN Form 8300 because he received $12,000 in cash when he sold a car, because:

Which of the following is NOT considered “cash” by the IRS?

The primary legislation in the U.S. that was enacted to detect and prevent money laundering is:

Celeste works for a _____, which is a business that cashes checks, sells traveler’s checks, and transmits money.

A client purchased a new annuity contract with $6,000, money the agent believes was earned trafficking in drugs. What form must the insurance company file with FinCEN when the agent reports the transaction and her belief?

Kheng doesn’t file a Suspicious Activity Report when a suspected criminal purchases an insurance policy with $6,000 cash because:

The filing of a _____, the information contained on it, and any information that might reveal it was filed must all be held confidentially, in accordance with federal law.

The Money Laundering Control Act outlawed structuring to avoid BSA filing requirements and imposed _____ for property and money received in connection with BSA violations.

A written customer identification program must include procedures for all the following EXCEPT:

When complying with an insurance company’s _____, an agent must collect the applicant’s full legal name, date of birth, and taxpayer ID.

What type of money laundering takes place when a business’ contracts, invoices, and other documents are falsified to hide the crime being committed?

Stella suspects her new client is a politically exposed person because she is:

An insurance company verifies a new insurance applicant’s identity and learns the individual appears on the SDN list. What is the insurance company’s next step?

Which of the following is NOT among the most popular ways for terrorist organizations to raise funding?

The primary goal of financing terrorism is to do which of the following?

Lucinda runs a terrorist network. She has acquired $1 million of funds and needs to transfer money to those working in her network. She might do all the following EXCEPT:

Morgan is a money launderer engaging in the first step of her crime, placement. She is MOST likely to do which of the following?

Megan received a $100,000 bribe and stashed it in a safety deposit box. Now, she’s periodically removing $5,000 sums from the safety deposit box, and depositing them in a variety of different bank accounts across the state. What phase of the money laundering process is she engaging in?

Structuring is a common feature of the _____ phase of money laundering. It involves financial transactions made in smaller amounts intended to avoid financial reporting requirements.

If Phillip is engaging in the final stage of money laundering, integration, he is MOST likely to be:

Claude and his wife Lola opened a bank account into which they deposited $50,000. Which of the following individuals is the beneficial owner of the account?