Under the best practices listed in the Financial Action Task Force (FATF) Recommendations concerning large cash transactions with customers, which of the following transactions would require a report to be filed with the government?

A. A domestic credit card purchase of a piece of jewelry above the jurisdiction's designated threshold

B. A lump-sum cash deposit to a bank above the jurisdiction's designated threshold

C. An international purchase of a small boat with a lump-sum cash payment below the jurisdiction's designated threshold

D. A cash payment to a restaurant supplier for restaurant supplies above the jurisdiction's designated threshold

Which of the following is an example of a trade-based money laundering scheme?

A. An accountant overstates a restaurant's revenues to hide illegal funds that are secretly laundered through the business.

B. A drug cartel outside of the United States launders illicit funds by hiring runners to deposit small amounts of money in bank accounts throughout the United States.

C. An importer and an exporter conspire to conceal illicit funds by creating invoices that understate the quantity of goods shipped internationally.

D. A businessperson deposits illicit funds into the bank account of a company they secretly own, which then lends the funds back to them.

In most civil law systems, which of the following parties typically serves as the fact finder in criminal proceedings?

A. A panel of court-appointed attorneys

B. A jury

C. A panel comprised of laypersons

D. A judge

Which of the following statements concerning digital currencies, such as bitcoin, is MOST ACCURATE?

A. Digital currencies are attractive to money launderers because they are a payment method that provides complete anonymity.

B. Digital currencies are attractive to money launderers because payments often cross jurisdictional boundaries, making it difficult for authorities to pursue enforcement.

C. Digital currencies are not typically used to launder money due to strict customer identification or recordkeeping requirements enforced in all jurisdictions.

D. Digital currencies are subject to all of the same regulations as payments made through traditional financial institutions.

Company A sued Company B to recover damages for the breach of a contract. In the same proceeding, Company B sought damages for an allegation that Company A fraudulently induced Company B into entering the contract. In this case, what would Company B's claim against Company A be called?

A. Collateral attack

B. Reversal

C. Counterclaim

D. Cross-claim

Which of the following can affect the rights that employees may have during an internal investigation?

A. Existence of violation red flags

B. Existence of interstate compacts

C. Existence of an employment contract

D. Existence of fraud risk factors

Which of the following statements about the International Organization of Securities Commissions (IOSCO) is TRUE?

A. IOSCO is recognized as the international standard-setter for securities markets.

B. IOSCO is an oversight body responsible for issuing and enforcing regulations that govern all international securities markets.

C. IOSCO provides a forum for regular cooperation on banking supervisory matters affecting developing nations.

D. IOSCO is a self-regulatory organization for companies that have securities traded on international securities markets.

The Financial Action Task Force (FATF) Recommendations advise countries to do all of the following EXCEPT:

A. Use a risk-based approach when setting anti-money laundering policies.

B. Enable authorities to trace, freeze, and confiscate assets suspected in money laundering and terrorist financing.

C. Require financial institutions to monitor their customers' political affiliations.

D. Require financial institutions to keep certain records and establish anti-money laundering policies.

Which of the following statements is TRUE regarding criminal proceedings and discovery in adversarial jurisdictions?

A. The judge is the primary driver of the discovery process in criminal proceedings.

B. Parties typically cannot request evidence from each other until after the trial begins.

C. The majority of criminal discovery usually occurs before the trial begins.

D. Most criminal proceedings are divided into pretrial, investigative, and trial phases.

Countries A and B both follow the Financial Action Task Force (FATF) Recommendations concerning cross-border transfers of currency. Trevor is traveling from Country A to Country B while carrying $16,000 in cash, which exceeds Country B's reporting threshold. Trevor is required to disclose the amount of currency he is carrying to authorities in Country B.

A. True

B. False