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Question 1 of 30
1. Question
After the tragic events of 11 September 2001 and in October 2001 the FATF’s mandate was extended to deal with which of the following actions?
Correct
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
Incorrect
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
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Question 2 of 30
2. Question
After the tragic events of 11 September 2001 and in October 2001 how many special recommendations on terrorist financing were adopted by the Financial Action Task Force (FATF)?
Correct
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
Incorrect
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
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Question 3 of 30
3. Question
After the tragic events of 11 September 2001 and in October 2004 how many special recommendations on terrorist financing were adopted by the Financial Action Task Force (FATF)?
Correct
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
Incorrect
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
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Question 4 of 30
4. Question
The Financial Action Task Force’s (FATF’s) forty recommendations were amended how many times till 2003?
Correct
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
Incorrect
The world was no longer the same after the tragic events of 11 September 2001. A new phenomenon called “terrorism” became the new focus and the Axes of Evil were a fact. Nobody knows where a new deed of terror was going to take place and the attacks in Madrid and London proved that it could be anywhere and anytime. The Financial Action Task Force (FATF) was very fast in responding to the events of 9/11 and in October 2001 FATF’s mandate was extended to deal with all issues related to terrorist financing (CFT) and at the same month the FATF adopted eight special recommendations on terrorist financing, complementary to the already existing 40 recommendations and a ninth special recommendation was added in October 2004. The forty recommendations were amended twice in 1996 and 2003 to become more effective by reflecting all changes.
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Question 5 of 30
5. Question
Which of the following private initiative is a good example of a fight against money laundering and terrorist financing?
Correct
A lot of efforts are made on a supranational level, international and national level to fight money laundering and terrorist financing. On the basis of these initiatives, private initiatives became more and more important in order to keep their profession clean. The Basel Committee on Banking Supervision (BCBS) is a good example of private initiative.
Incorrect
A lot of efforts are made on a supranational level, international and national level to fight money laundering and terrorist financing. On the basis of these initiatives, private initiatives became more and more important in order to keep their profession clean. The Basel Committee on Banking Supervision (BCBS) is a good example of private initiative.
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Question 6 of 30
6. Question
Which of the following authorities published a joint note in an exercise providing an overview of the common AML/CFT (Antimony Laundering/ Combating the Financing of Terrorism) standards that apply to each of these sectors?
Correct
In June 2003 the Basel Committee on Banking Supervision (BCBS) in a joint exercise with the International Association of Insurance Supervisors (IAIS) and the International Organization of Securities Commissions (IOSCO) published a joint note providing an overview of the common AML/CFT (Antimony Laundering/ Combating the Financing of Terrorism) standards that apply to each of these sectors. It assessed whether there were inconsistencies or gaps in approaches and recommendations.
Incorrect
In June 2003 the Basel Committee on Banking Supervision (BCBS) in a joint exercise with the International Association of Insurance Supervisors (IAIS) and the International Organization of Securities Commissions (IOSCO) published a joint note providing an overview of the common AML/CFT (Antimony Laundering/ Combating the Financing of Terrorism) standards that apply to each of these sectors. It assessed whether there were inconsistencies or gaps in approaches and recommendations.
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Question 7 of 30
7. Question
Which of the following personality was murdered on 14 September 2006, who was responsible for the supervision of many banks?
Correct
The powerful criminal organizations have many ways to seriously disrupt the process. It is very frightening that on 14 September 2006 the Vice President of the Russian Central Bank, Mr Andrey Kozlov was murdered who was responsible for the supervision of many banks.
Incorrect
The powerful criminal organizations have many ways to seriously disrupt the process. It is very frightening that on 14 September 2006 the Vice President of the Russian Central Bank, Mr Andrey Kozlov was murdered who was responsible for the supervision of many banks.
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Question 8 of 30
8. Question
Which of the following authority is a global organization that is dedicated to supporting the best compliance and anti-money laundering practices in the financial services and allied sectors?
Correct
The International Compliance Association (ICA) is known as a global organization that is dedicated to supporting the best compliance and anti-money laundering practice in the financial services and allied sectors. The ICA transcends national boundaries by educating and supporting compliance and financial crime professionals throughout the world, through the provision of internationally recognized training and qualifications, member information exchange and continuing professional development.
Incorrect
The International Compliance Association (ICA) is known as a global organization that is dedicated to supporting the best compliance and anti-money laundering practice in the financial services and allied sectors. The ICA transcends national boundaries by educating and supporting compliance and financial crime professionals throughout the world, through the provision of internationally recognized training and qualifications, member information exchange and continuing professional development.
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Question 9 of 30
9. Question
The International Compliance Association (ICA) that operates as a federal organization has a presence in 25 jurisdictions on how many continents?
Correct
The International Compliance Association (ICA) is known as a global organization that is dedicated to supporting the best compliance and anti-money laundering practice in the financial services and allied sectors. The ICA transcends national boundaries by educating and supporting compliance and financial crime professionals throughout the world, through the provision of internationally recognized training and qualifications, member information exchange and continuing professional development. The ICA has a presence in 25 jurisdictions on four continents and operates as a federal organization that has reciprocal links with compliance officers associations and anti-money laundering forum groups across the world. The qualifications of ICA are recognized and supported by regulators, governments and industry globally as focused, relevant education for the individuals who carry out AML and compliance functions for staff.
Incorrect
The International Compliance Association (ICA) is known as a global organization that is dedicated to supporting the best compliance and anti-money laundering practice in the financial services and allied sectors. The ICA transcends national boundaries by educating and supporting compliance and financial crime professionals throughout the world, through the provision of internationally recognized training and qualifications, member information exchange and continuing professional development. The ICA has a presence in 25 jurisdictions on four continents and operates as a federal organization that has reciprocal links with compliance officers associations and anti-money laundering forum groups across the world. The qualifications of ICA are recognized and supported by regulators, governments and industry globally as focused, relevant education for the individuals who carry out AML and compliance functions for staff.
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Question 10 of 30
10. Question
The International Compliance Association (ICA) that operates as a federal organization has a presence in how many jurisdictions on four continents?
Correct
The International Compliance Association (ICA) is known as a global organization that is dedicated to supporting the best compliance and anti-money laundering practice in the financial services and allied sectors. The ICA transcends national boundaries by educating and supporting compliance and financial crime professionals throughout the world, through the provision of internationally recognized training and qualifications, member information exchange and continuing professional development. The ICA has a presence in 25 jurisdictions on four continents and operates as a federal organization that has reciprocal links with compliance officers associations and anti-money laundering forum groups across the world. The qualifications of ICA are recognized and supported by regulators, governments and industry globally as focused, relevant education for the individuals who carry out AML and compliance functions for staff.
Incorrect
The International Compliance Association (ICA) is known as a global organization that is dedicated to supporting the best compliance and anti-money laundering practice in the financial services and allied sectors. The ICA transcends national boundaries by educating and supporting compliance and financial crime professionals throughout the world, through the provision of internationally recognized training and qualifications, member information exchange and continuing professional development. The ICA has a presence in 25 jurisdictions on four continents and operates as a federal organization that has reciprocal links with compliance officers associations and anti-money laundering forum groups across the world. The qualifications of ICA are recognized and supported by regulators, governments and industry globally as focused, relevant education for the individuals who carry out AML and compliance functions for staff.
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Question 11 of 30
11. Question
How many students have been trained in the anti-money laundering and compliance in the last five years by the International Compliance Association (ICA)?
Correct
Over 3000 students have been trained in anti-money laundering and compliance in the last five years by the International Compliance Association (ICA). These students have gone on to acquire responsible positions as compliance officers and MLROs. All the ICA programs, the work of global bodies such as FATF, OECD, World Bank and EU are central to the studies of the students.
Incorrect
Over 3000 students have been trained in anti-money laundering and compliance in the last five years by the International Compliance Association (ICA). These students have gone on to acquire responsible positions as compliance officers and MLROs. All the ICA programs, the work of global bodies such as FATF, OECD, World Bank and EU are central to the studies of the students.
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Question 12 of 30
12. Question
Which of the following authority in association with the International Compliance Association (ICA) have developed occupational standards and qualifications for all of those who are working in the anti-money laundering and compliance field?
Correct
Safeguarding the integrity of a business is known as good business. That is why the UK Financial Services Skills Council (FSSC) in association with the International Compliance Association (ICA) has developed occupational standards and qualifications for all those working in the anti-money laundering and compliance field.
Incorrect
Safeguarding the integrity of a business is known as good business. That is why the UK Financial Services Skills Council (FSSC) in association with the International Compliance Association (ICA) has developed occupational standards and qualifications for all those working in the anti-money laundering and compliance field.
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Question 13 of 30
13. Question
Which of the following are the practical uses of the good occupational standards within the firm?
Correct
The following are the practical uses of the good occupational standards within the firm:-
(a) Good occupational standards help employers to set competence requirements for recruitment and promotion.
(b) Good occupational standards provide a basis for job specification and job evaluation.
(c) Good occupational standards offer a benchmark for use when appraising performance.
(d) Good occupational standards allow training needs to be identified.
(e) Good occupational standards enable businesses to demonstrate that regulatory requirements have been met.
(f) Good occupational standards provide a basis for high-quality qualifications.Incorrect
The following are the practical uses of the good occupational standards within the firm:-
(a) Good occupational standards help employers to set competence requirements for recruitment and promotion.
(b) Good occupational standards provide a basis for job specification and job evaluation.
(c) Good occupational standards offer a benchmark for use when appraising performance.
(d) Good occupational standards allow training needs to be identified.
(e) Good occupational standards enable businesses to demonstrate that regulatory requirements have been met.
(f) Good occupational standards provide a basis for high-quality qualifications. -
Question 14 of 30
14. Question
Standards described by both performance and knowledge requirements, which of the following features are present in the standards?
Correct
Standards described by both performance and knowledge requirements and the following features are present in the standards:-
(a) Each standard is a single specification of competent performance.
(b) Each standard sets out separately performance criteria in terms of critical outcomes and critical behaviors.Incorrect
Standards described by both performance and knowledge requirements and the following features are present in the standards:-
(a) Each standard is a single specification of competent performance.
(b) Each standard sets out separately performance criteria in terms of critical outcomes and critical behaviors. -
Question 15 of 30
15. Question
The UK Financial Services Skills Council (FSSC) has designed a framework of qualifications based on the standards of competence. How many levels of qualifications are proposed for compliance and anti-money laundering functions?
Correct
The UK Financial Services Skills Council (FSSC) has designed a framework of qualifications bases on the Standards of Competence. These qualifications are proposed for compliance and AML at following two distinct levels:-
(a) Level 4 (Professional – targeted primarily at AML and compliance managers and senior professionals).
(b) Level 3 (Support professionals – targeted at managers/team leaders and some specialists).Incorrect
The UK Financial Services Skills Council (FSSC) has designed a framework of qualifications bases on the Standards of Competence. These qualifications are proposed for compliance and AML at following two distinct levels:-
(a) Level 4 (Professional – targeted primarily at AML and compliance managers and senior professionals).
(b) Level 3 (Support professionals – targeted at managers/team leaders and some specialists). -
Question 16 of 30
16. Question
Which of the following qualification level of the FSSC targeted at managers/team leaders and some specialists?
Correct
The UK Financial Services Skills Council (FSSC) has designed a framework of qualifications bases on the Standards of Competence. These qualifications are proposed for compliance and AML at following two distinct levels:-
(a) Level 4 (Professional – targeted primarily at AML and compliance managers and senior professionals).
(b) Level 3 (Support professionals – targeted at managers/team leaders and some specialists).Incorrect
The UK Financial Services Skills Council (FSSC) has designed a framework of qualifications bases on the Standards of Competence. These qualifications are proposed for compliance and AML at following two distinct levels:-
(a) Level 4 (Professional – targeted primarily at AML and compliance managers and senior professionals).
(b) Level 3 (Support professionals – targeted at managers/team leaders and some specialists). -
Question 17 of 30
17. Question
Which of the following qualification level of the FSSC targeted primarily at anti-money laundering (AML) and compliance managers and senior professionals?
Correct
The UK Financial Services Skills Council (FSSC) has designed a framework of qualifications bases on the Standards of Competence. These qualifications are proposed for compliance and AML at following two distinct levels:-
(a) Level 4 (Professional – targeted primarily at AML and compliance managers and senior professionals).
(b) Level 3 (Support professionals – targeted at managers/team leaders and some specialists).Incorrect
The UK Financial Services Skills Council (FSSC) has designed a framework of qualifications bases on the Standards of Competence. These qualifications are proposed for compliance and AML at following two distinct levels:-
(a) Level 4 (Professional – targeted primarily at AML and compliance managers and senior professionals).
(b) Level 3 (Support professionals – targeted at managers/team leaders and some specialists). -
Question 18 of 30
18. Question
In accepting a trust, which of the following are the certain duties of the trustee?
Correct
The trustee during accepting a trust should maintain certain duties which can be summarized as follows:-
(a) The trustee should account for the beneficiaries for the management of the trusts.
(b) The trustee should act lawfully in the management of the trust and as the legal owner of the funds, to account for taxes, charges and similar liabilities imposed on the trust either by law or by any contract entered into by the trustee.
(c) The trustee should not breach the terms of the trust or if he does, he will be personally accountable for the losses incurred.
(d) The trustee should act exclusively in the interests of the beneficiaries and not his own in his dealings and management of the trust.Incorrect
The trustee during accepting a trust should maintain certain duties which can be summarized as follows:-
(a) The trustee should account for the beneficiaries for the management of the trusts.
(b) The trustee should act lawfully in the management of the trust and as the legal owner of the funds, to account for taxes, charges and similar liabilities imposed on the trust either by law or by any contract entered into by the trustee.
(c) The trustee should not breach the terms of the trust or if he does, he will be personally accountable for the losses incurred.
(d) The trustee should act exclusively in the interests of the beneficiaries and not his own in his dealings and management of the trust. -
Question 19 of 30
19. Question
Which of the following unit of the United Nations Office on Drugs and Crime (UNODC) is responsible for carrying out the Global Program against Money Laundering (GPML)?
Correct
The Anti-Money Laundering Unit (AMLU) of the United Nations Office on Drugs and Crime (UNODC) is responsible for carrying out the Global Program against Money Laundering (GPML) that was established in the year of 1997 in response to the mandate given by the 1988 UN Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances.
Incorrect
The Anti-Money Laundering Unit (AMLU) of the United Nations Office on Drugs and Crime (UNODC) is responsible for carrying out the Global Program against Money Laundering (GPML) that was established in the year of 1997 in response to the mandate given by the 1988 UN Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances.
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Question 20 of 30
20. Question
Which of the following UN Convention widens the definition of money laundering to include the proceeds of all serious crime and gives legal force to a number of issues addressed in the United Nations General Assembly Special Session’s (UNGASS) Political Declaration?
Correct
The United Nations (UN) Convention against Transnational Organized Crime widens the definition of money laundering to include the proceeds of all serious crime and gives legal force to a number of issues addressed in the 1998 United Nations General Assembly Special Session’s (UNGASS) Political Declaration. The UN Convention against Transnational Organized Crime came into force on 29 September 2003.
Incorrect
The United Nations (UN) Convention against Transnational Organized Crime widens the definition of money laundering to include the proceeds of all serious crime and gives legal force to a number of issues addressed in the 1998 United Nations General Assembly Special Session’s (UNGASS) Political Declaration. The UN Convention against Transnational Organized Crime came into force on 29 September 2003.
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Question 21 of 30
21. Question
Which of the following UN Convention creates as an offense the concealment and laundering of the proceeds of acts of corruption and includes further extensive measures to combat money laundering?
Correct
The United Nations (UN) Convention against Corruption creates as an offense the concealment and laundering of the proceeds of acts of corruption and includes further extensive measures to combat money laundering. The UN Convention against Corruption was entered into force on 14 December 2005.
Incorrect
The United Nations (UN) Convention against Corruption creates as an offense the concealment and laundering of the proceeds of acts of corruption and includes further extensive measures to combat money laundering. The UN Convention against Corruption was entered into force on 14 December 2005.
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Question 22 of 30
22. Question
Which of the following United Nations (UN) Convention requires the Member States to take measures to protect their financial systems from abuse by persons planning or engaged in terrorist activity?
Correct
The United Nations (UN) International Convention for the Suppression of the Financing of Terrorism requires the Member States to take measures to protect their financial system from abuse by persons planning or engaged in terrorist activity. The UN International Convention for the Suppression of the Financing of Terrorism entered into force on 10 April 2002.
Incorrect
The United Nations (UN) International Convention for the Suppression of the Financing of Terrorism requires the Member States to take measures to protect their financial system from abuse by persons planning or engaged in terrorist activity. The UN International Convention for the Suppression of the Financing of Terrorism entered into force on 10 April 2002.
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Question 23 of 30
23. Question
Which of the following is the broad objective of the Global Program against Money Laundering (GPML)?
Correct
The broader objective of the Global Program against Money Laundering (GPML) is to strengthen the ability of Member States to implement standards. Following are the specific objectives of GPML:-
(a) To assist in the achievement of the objective set up by the UN General Assembly Special Session (UNGASS) for all States to have in place legislation on money laundering.
(b) To equip States with the necessary knowledge, means and expertise to implement national legislation and the UN Plan of Action against Money Laundering.
(c) To increase the capacity of States successfully to undertake financial investigations and prosecutions.
(d) To equip States with the necessary legal, institutional and operational framework to comply with international standards on countering the financing of terrorism including the relevant UN Security Council Resolutions.
(d) To assist States in detecting, seizing and confiscating illicit proceeds.Incorrect
The broader objective of the Global Program against Money Laundering (GPML) is to strengthen the ability of Member States to implement standards. Following are the specific objectives of GPML:-
(a) To assist in the achievement of the objective set up by the UN General Assembly Special Session (UNGASS) for all States to have in place legislation on money laundering.
(b) To equip States with the necessary knowledge, means and expertise to implement national legislation and the UN Plan of Action against Money Laundering.
(c) To increase the capacity of States successfully to undertake financial investigations and prosecutions.
(d) To equip States with the necessary legal, institutional and operational framework to comply with international standards on countering the financing of terrorism including the relevant UN Security Council Resolutions.
(d) To assist States in detecting, seizing and confiscating illicit proceeds. -
Question 24 of 30
24. Question
Which of the following are the specific objectives of the Global Program against Money Laundering (GPML)?
Correct
The broader objective of the Global Program against Money Laundering (GPML) is to strengthen the ability of Member States to implement standards. Following are the specific objectives of GPML:-
(a) To assist in the achievement of the objective set up by the UN General Assembly Special Session (UNGASS) for all States to have in place legislation on money laundering.
(b) To equip States with the necessary knowledge, means and expertise to implement national legislation and the UN Plan of Action against Money Laundering.
(c) To increase the capacity of States successfully to undertake financial investigations and prosecutions.
(d) To equip States with the necessary legal, institutional and operational framework to comply with international standards on countering the financing of terrorism including the relevant UN Security Council Resolutions.
(d) To assist States in detecting, seizing and confiscating illicit proceeds.Incorrect
The broader objective of the Global Program against Money Laundering (GPML) is to strengthen the ability of Member States to implement standards. Following are the specific objectives of GPML:-
(a) To assist in the achievement of the objective set up by the UN General Assembly Special Session (UNGASS) for all States to have in place legislation on money laundering.
(b) To equip States with the necessary knowledge, means and expertise to implement national legislation and the UN Plan of Action against Money Laundering.
(c) To increase the capacity of States successfully to undertake financial investigations and prosecutions.
(d) To equip States with the necessary legal, institutional and operational framework to comply with international standards on countering the financing of terrorism including the relevant UN Security Council Resolutions.
(d) To assist States in detecting, seizing and confiscating illicit proceeds. -
Question 25 of 30
25. Question
Which of the following centers in the world are used by the team of international tutors of the International Compliance Association (ICA) for delivering the workshops?
Correct
The International Compliance Association (ICA) in association with the University of Manchester Business School offers a number of one-year professional/graduate diplomas through an integrated part-time study mode. Following are the diplomas offered by the ICA:-
(a) Diploma in AML (UK and international version).
(b) Diploma in Compliance (UK and international version).
(c) Diploma in Financial Crime (UK).
(d) Certificate in Compliance (UK and international).
(e) AML awareness certificate (UK and international).The programmes are delivered in an integrated educational format including:-
(a) Detailed course manuals.
(b) Face-to-face workshops (multiple jurisdictions).
(c) E-support (on-line library, discussion forums, tutor and news service).The International Compliance Association (ICA) has a dedicated team of international tutors who travel the world delivering the workshops in dedicated centres. These centres are present in the Bahamas, Bermuda, Cayman, Hong Kong, Singapore, Miami, New York, Channel Islands, Switzerland, Portugal, etc.
Incorrect
The International Compliance Association (ICA) in association with the University of Manchester Business School offers a number of one-year professional/graduate diplomas through an integrated part-time study mode. Following are the diplomas offered by the ICA:-
(a) Diploma in AML (UK and international version).
(b) Diploma in Compliance (UK and international version).
(c) Diploma in Financial Crime (UK).
(d) Certificate in Compliance (UK and international).
(e) AML awareness certificate (UK and international).The programmes are delivered in an integrated educational format including:-
(a) Detailed course manuals.
(b) Face-to-face workshops (multiple jurisdictions).
(c) E-support (on-line library, discussion forums, tutor and news service).The International Compliance Association (ICA) has a dedicated team of international tutors who travel the world delivering the workshops in dedicated centres. These centres are present in the Bahamas, Bermuda, Cayman, Hong Kong, Singapore, Miami, New York, Channel Islands, Switzerland, Portugal, etc.
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Question 26 of 30
26. Question
How many members of the Egmont Group pursue the best practice among FIUs and promote international cooperation in the fight against money laundering and terrorism?
Correct
The Egmont Group with currently 101 members purses the best practice among FIUs and promotes international cooperation in the fight against money laundering and financing of terrorism. This cooperation also includes the exchange of financial intelligence on a secure computer network (the Egmont Secure web-site). The Global Programme against Money Laundering (GPML) participates in Egmont Group meetings and conducts workshops in cooperation with the Egmont Group.
Incorrect
The Egmont Group with currently 101 members purses the best practice among FIUs and promotes international cooperation in the fight against money laundering and financing of terrorism. This cooperation also includes the exchange of financial intelligence on a secure computer network (the Egmont Secure web-site). The Global Programme against Money Laundering (GPML) participates in Egmont Group meetings and conducts workshops in cooperation with the Egmont Group.
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Question 27 of 30
27. Question
Which of the following type of medium is used by the Egmont Group for the exchange of financial intelligence?
Correct
The Egmont Group with currently 101 members purses the best practice among FIUs and promotes international cooperation in the fight against money laundering and financing of terrorism. This cooperation also includes the exchange of financial intelligence on a secure computer network (the Egmont Secure web-site). The Global Program against Money Laundering (GPML) participates in Egmont Group meetings and conducts workshops in cooperation with the Egmont Group.
Incorrect
The Egmont Group with currently 101 members purses the best practice among FIUs and promotes international cooperation in the fight against money laundering and financing of terrorism. This cooperation also includes the exchange of financial intelligence on a secure computer network (the Egmont Secure web-site). The Global Program against Money Laundering (GPML) participates in Egmont Group meetings and conducts workshops in cooperation with the Egmont Group.
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Question 28 of 30
28. Question
How many countries and governments have joined the Financial Action Task Force (FATF) to become compliant with the forty + nine recommendations?
Correct
Many countries are encouraged to join the Financial Action Task Force (FATF). FATF now consists of 31 countries and governments that become compliant with the forty + nine recommendations. All obligations under national law based on the FATF recommendations force the financial institutions to report these transactions to their Money Laundering Reporting Offices. These offices are mostly referred to as Financial Intelligence Units (FIUs) or some are known as Financial Investigation Units.
Incorrect
Many countries are encouraged to join the Financial Action Task Force (FATF). FATF now consists of 31 countries and governments that become compliant with the forty + nine recommendations. All obligations under national law based on the FATF recommendations force the financial institutions to report these transactions to their Money Laundering Reporting Offices. These offices are mostly referred to as Financial Intelligence Units (FIUs) or some are known as Financial Investigation Units.
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Question 29 of 30
29. Question
How many Financial Actin Tasks Force (FATF) recommendations are there for 31 countries and governments to compliant with?
Correct
Many countries are encouraged to join the Financial Action Task Force (FATF). FATF now consists of 31 countries and governments that become compliant with the forty + nine recommendations. All obligations under national law based on the FATF recommendations force the financial institutions to report these transactions to their Money Laundering Reporting Offices. These offices are mostly referred to as Financial Intelligence Units (FIUs) or some are known as Financial Investigation Units.
Incorrect
Many countries are encouraged to join the Financial Action Task Force (FATF). FATF now consists of 31 countries and governments that become compliant with the forty + nine recommendations. All obligations under national law based on the FATF recommendations force the financial institutions to report these transactions to their Money Laundering Reporting Offices. These offices are mostly referred to as Financial Intelligence Units (FIUs) or some are known as Financial Investigation Units.
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Question 30 of 30
30. Question
Which of the following offices should be reported by the financial institutions for all obligations under national law that based on the FATF’s recommendations?
Correct
Many countries are encouraged to join the Financial Action Task Force (FATF). FATF now consists of 31 countries and governments that become compliant with the forty + nine recommendations. All obligations under national law based on the FATF recommendations force the financial institutions to report these transactions to their Money Laundering Reporting Offices. These offices are mostly referred to as Financial Intelligence Units (FIUs) or some are known as Financial Investigation Units.
Incorrect
Many countries are encouraged to join the Financial Action Task Force (FATF). FATF now consists of 31 countries and governments that become compliant with the forty + nine recommendations. All obligations under national law based on the FATF recommendations force the financial institutions to report these transactions to their Money Laundering Reporting Offices. These offices are mostly referred to as Financial Intelligence Units (FIUs) or some are known as Financial Investigation Units.