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The Financial Action Task Force (FATF) Recommendations concerning cross-border transfers of currency recommend that countries do which of the following?

A.

Require individuals to make a disclosure any time currency is physically transported into or out of a country, regardless of the currency amount.

B.

Eliminate the practice of carrying currency above a certain threshold across international borders.

C.

Establish reporting thresholds for physically carrying currency or currency equivalents into or out of a country.

D.

Stipulate that financial institutions must inform authorities any time they conduct a transaction involving a cash equivalent originating from another country.

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

A.

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

B.

An accountant overstates a restaurants revenues to hide illegal funds that are secretly laundered through the business

C.

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

D.

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

Aliyah is an employee at Chatham, a publicly traded corporation, and she owns shares of Chatham's stock. Aliyah learns that Chatham is going to publicly announce low earnings, so she sells her shares of Chatham's stock. If her conduct is illegal in the jurisdiction where she works and resides, then what type of crime did Aliyah MOST LIKELY commit?

A.

Churning

B.

Insider trading

C.

Trading on margin

D.

Futures fraud

To determine if a misrepresentation in the offer or sale of any securities is material a fraud examiner should answer which of the following questions?

A.

"Did the person who made the representation believe that it was suitable for potential investors?"

B.

"Was the misrepresentation made by an authorized individual?"

C.

"Would a reasonable investor wish to know the information to make an informed decision?"

D.

''Did the person who made the representation intend to mislead potential investors?

Which of the following is a red flag that might be indicative of an entity operating a security business without the proper license or registration?

A.

There are justified gaps in the work history of promoters at the entity.

B.

The entity is known to have a history of regulatory problems.

C.

There is a lack of customer complaints against the entity.

D.

The entity's website contains detailed background information.

Which of the following statements concerning the selection of expert witnesses during trial is MOST ACCURATE?

A.

Generally, the court selects the primary expert witnesses in adversarial jurisdictions and the parties do not participate in the selection.

B.

Generally, the parties select the expert witnesses in both inquisitorial and adversarial jurisdictions.

C.

Generally, the court selects the primary expert witnesses in inquisitorial jurisdictions and the parties do not hire them directly.

D.

Generally, the parties select expert witnesses in inquisitorial jurisdictions but not in adversarial jurisdictions.

The MOST COMMON bankruptcy fraud scheme is:

A.

Forged filing

B.

A planned bustcut

C.

A credit card bustout

D.

Concealment of assets

Each day, Rachel purchases $14 500 in bearer instruments with cash from a bank where all currency transactions above 515,000 must be reported to the government Rachets actions are a red flag of which of the following schemes'?

A.

Channel stuffing

B.

Alternative remittance system

C.

Structuring

D.

Real estate laundering

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

A.

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

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 attractive to money launderers because they are a payment method that provides complete anonymity

D.

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

In most civil law jurisdictions which of the following BEST describes when a party is required to begin taking steps to preserve and produce relevant evidence?

A.

When the court orders such steps to be taken

B.

When litigation has started

C.

When the party receives a service of process

D.

When the charging documents are filed