AMLS Review Test 2 (Latest 2023 / 2024)
Complete Questions & Answers 100% Correct
- Brad is an agent working with a large general agency. He has just saw a very
large life insurance policy to a client who is later discovered to be part of a terrorist network. And restaurant back to the same of this life policy could be viewed as which of the following
Answer: Placement
- All of the following are descriptive of the anti-money laundering program
required by the regulation except
Answer: One size fits all
- The purpose of which of the following components of the AML program is to
help employees recognize high risk accounts and suspicious activity
Answer: - Training program
- Which of the following insurance policies presents the greatest risk of
money laundering?
Answer: Life insurance policy
- Purchasing an annuity with money from criminal activity is an example of
Answer: Placement
- Before his clients Wes is about as part of a terrorist network Brad was
several months into the Seo when he noticed that his client was coming in about once every two weeks and making a premium deposit. He also 1 / 2
requested a 1035 exchange and transfer funds from another policy into the policy Brad set up for him. This would be out and if I ask which step in the money laundering process
Answer: Layering
- Which of the following forms does a US citizen have to file for having a
foreign bank account with a balance of $10,000 or more
Answer: FBAr
- Which of the following is an international body house but whose purpose is to
develop and promote policies to compact money laundering and terror- ist financing is why
Answer: The financial action task force
- Mixing elicit and legal funds to purchase a new car is an example of
Answer: Integration
- Which of the following is not a step in the money laundering process
Answer: -Saving
- The insurance industry is most vulnerable to money laundering during
which of the following faces of the money laundering process?
Answer: Integration and layering
- ed sells insurance for a large brokerage firm. As a result of his sales
activities, he is required to attend training on money laundering. Ed is most likely selling which of the following ?
Answer: Life insurance and annuities
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