Acams Certification Exam Study Guide Practice Questions And Answers _ 2024

Which three statements are true about the Fourth EU Directive on Money Laundering? A. It updates European Community legislation to be further in line with the Financial Action Task Force (FATF) 40 Recommendations. B. It repeats the definition of a politically exposed person in previous directives. C. It repeats the customer due diligence requirements of the previous directives but adds more detail to the requirements by, for example, including a specific requirement to identify the beneficial owner and includes ongoing monitoring requirements. D. It includes new definitions for correspondent relationships and senior management. {Ans: a, c & d}What are three of the recommended ways to respond to a law enforcement inquiry? A. Cooperate with the law enforcement inquiry as much as possible. B. Respond to all formal requests for information as promptly and thoroughly as possible, unless there is a valid objection that can and should be made. C. Ensure that all communication, written and oral, is funneled through a centralized place. D. Guard against unwarranted publicity by resisting all inquiries and requests whenever possible. {Ans: a, b & c}A customer at a brokerage firm indicated that he was primarily a conservative, long-range investor. The customer has recently