A student contacts a real estate broker to view a home but cancels last minute due to illness. The student wants to quickly buy the 800,000 USD home, which is overvalued, despite the broker's objections to the asking price.
Which real estate red flags should the broker identify? (Choose three.)
A. Anonymity
B. Transaction speed
C. Value
D. Flow through
E. Inconsistency
F. Structuring
Which statements relate to the role of financial intelligence units (FIUs) in combatting financial crime on a national and international level? (Choose three.)
A. FIUs can only engage in cross-border collaboration where there exists a reasonable suspicion that is confirmed by a court-issued document.
B. FIUs have a broad range of financial information to assess suspicious activity alerts.
C. FIUs are legally empowered to use a wide range of investigative techniques, both in the public and in the private sector.
D. FIUs use a limited range of investigative techniques.
E. FIUs are able to cooperate both with foreign counterparts and national institutions.
F. FIUs can only command data and information requests from public sector entities.
Which is an example of structuring with regards to money laundering?
A. A person deposits substantial sums of currency into a number of local branches by making several cash transactions of less than 10,000 USD.
B. A person deposits 100,000 USD in cash at a bank.
C. A person uses the hawala system to transfer 10,000 USD from Australia to a family member in China.
D. A person deposits a large amount of more than 100,000 USD in cash and transfers it to another person's account.
When deficiencies are identified in the Financial Action Task Force (FATF) mutual evaluation report, the assessed country needs to:
A. address the shortcomings identified in the report and agree to post-assessment monitoring by FATF.
B. pay a penalty for the delay in adopting the FATF 40 recommendations accurately and timely.
C. request exception from the relevant FATF-style regional body by submitting a report with the reasons.
D. prepare a report to defend its position against the FATF secretariat, which is comprised of the assessors.
Which statements describe risks that are associated with international business corporations? (Choose two.)
A. They facilitate asset protection.
B. They are established as an off-shore company.
C. They are established with nominee directors.
D. They are created in a tax haven.
E. They are inexpensive to acquire.
According to the Basel Committee, customer acceptance, customer due diligence, and record-keeping policies and procedures should be changed as necessary to:
A. address KYC deficiencies in account opening procedures.
B. ensure policies and procedures are reviewed every three months.
C. address structure changes strictly related to new employees.
D. address variations in risk among each line of business within the organization.
In order for a terrorist organization to move funds from Cyprus to England through trade-based money laundering, which technique would be used?
A. A Cyprus-based exporter short-ships a shipment to London.
B. An England-based exporter over-invoices a shipment to Cyprus.
C. A Cyprus-based exporter over-invoices a shipment to London.
D. An England-based exporter under-invoices a shipment to Cyprus.
In order for a terrorist organization to move funds from Cyprus to England through trade-based money laundering, which technique would be used?
A. A Cyprus-based exporter short-ships a shipment to London.
B. An England-based exporter over-invoices a shipment to Cyprus.
C. A Cyprus-based exporter over-invoices a shipment to London.
D. An England-based exporter under-invoices a shipment to Cyprus.
Which is the most severe consequence for a FI if the regulator finds it is in breach of AML/CFT regulatory obligations?
A. Civil sanctions
B. Loss of license
C. Negative reputation
D. Monetary fines
According to FATF, FIs should exit the relationship with a client in which case?
A. The client is a politically exposed person (PEP)
B. There is a change in ownership structure
C. The country of incorporation has been elevated to high-risk
D. The client refuses to update information
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