Which of the following programs would most likely be considered part of an effective supervision regime for a regulator?

• A.Onsite and offsite reviews, cooperating on an international basis with access to a range of sanctions and outreach
• B.Onsite and offsite reviews, cooperating on an international and domestic basis with access to a range of sanctions and outreach
• C.Offsite reviews, cooperating on a domestic basis with access to a range of sanctions and outreach
• D.Onsite reviews, cooperating on an international and domestic basis with outreach and access to a range of sanctions

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A risk-based approach (RBA) to anti-financial crimes (AFC) involves understanding and managing risks by:

• A.applying uniform controls to all customers, regardless of their risk profile
• B.allocating resources and implementing controls based on the level of identified risks
• C.prioritizing regulatory compliance over customer experience and operational efficiency
• D.relying on automated systems to detect and mitigate AFC risks

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Money laundering has social and economic impacts, especially within developing countries. A high volume of money laundering in a country may: (Select Two.)

• A.Reduce confidence in the country's financial sector.
• B.Reduce volatility in exchange and interest rates.
• C.Lower the employment rate.
• D.Dissuade foreign investment.
• E.Dissuade government tax incentive programs

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What are the primary sources of reference besides AML laws and regulations when developing and maintaining the AML policies, standards, and procedures of a bank? (Choose three.)

• A.National Risk Assessment
• B.Regulatory guidance or publications
• C.Government or state-run newspapers
• D.Guidance issued by international bodies
• E.Policies and procedures developed by other banks

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Which action should a financial institution take when it receives a grand-jury subpoena regarding a customer?

• A.Notify the customer being investigated before submitting documents
• B.Keep the customer's accounts open at the enforcement agency's verbal request
• C.Have the institution's assigned legal counsel review the subpoena
• D.Make copies of the customer's documents and submit the originals to the enforcement agency

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