Following requests by many studying towards the CySEC AML examination, the SALVUS team has prepared a sample of test questions. This short set of questions are available for free and it will give you a better idea as to the type and style of questions of the actual AML examination by CySEC.

1. CySEC AML Certification mock examination #1
2. CySEC AML Certification mock examination #2  at the online platform of the IforPE
3. CySECAnti-Money Laundering (AML) Mock Examination #3 👇

Your name & surname

Your Company name

Your email

Consent: SALVUS protects and respects your privacy. Your personal information will be securely stored. We will only use your personal information to help us understand your needs and contact you on areas we can be of value for you.

A ‘tipping-off’ offense upon conviction is subject to

A. imprisonment not exceeding 5 years or to a fine not exceeding €50.000 and/or to both these sentences

B. imprisonment not exceeding 2 years or to a fine not exceeding €50.000 and/or to both these sentences.

C. imprisonment not exceeding 2 years or to a fine not exceeding €5.000 and/or to both these sentences

D. imprisonment not exceeding 5 years or to a fine not exceeding €5.000 and/or to both these sentences

Which of the following factor does not contribute to reducing risk?

A. third party payments are not allowed

B. Customer is a government body from an EEA jurisdiction

C. Customers request unreasonable levels of secrecy

D. Customer is an institutional investor verified by an EEA agency

All obliged entities should aim to establish a strong compliance environment, which

A. will supersede the profit-making activities as long as the Company remains healthy.

B. will supersede the profit-making activities of the Company.

C. will never supersede the profit-making activities of the Company.

D. none of the above.

A wealthy individual wishes to establish a relationship with a credit institution. A member of the board is vouching for the client and is eager to open the relationship quickly. The AML officer did not receive sufficient information in regards to the source of funds. What should the AML officer do?

A. Open the account

B. Open the account and monitor the activity

C. Perform a background investigation to determine that the sourse of funds are credible.

D. Decline the account opening

In which stage of ML would you classify the use of laundered funds and mix them with legitimate businesses such as restaurants?

A. Integration

B. Structuring

C. Placement

D. Layering

Which of the following should not be considered on weighting risk factors?

A. Weighting is not disproportionately influenced by just one factor.

B. Weighting is disproportionately influenced by just one factor.

C. Economic or profit considerations do not influence the risk rating.

D. Weighting does not lead to a situation where it is impossible for any business relationship to be classified as high risk.

Which two of the following are not considered a suspicious customer identification circumstance?

A. A customer that makes frequent or large transactions and has no record of past or present employment experience

B. A customer is reluctant to reveal details about the business activities

C. Customer experiences high turnover of professionals

D. Customer suggests paying a gratuity to an employee

Which two of the below statements are false for the Advisory Body of Financial Sanctions (ABFS)?

A. Examines requests for the release of funds maintained in accounts of credit institutions.

B. Examines requests that fall within the financial sector.

C. The approval or rejection to a final decision to be taken by the Minister of Finance.

D. The approval or rejection to a final decision to be taken collectively or by majority by the Ministers of Finance, Foreign Affairs, Energy, Trade, Industry and Tourism.

What is a Risk-Based Approach (RBA)?

A. RBA requires Obliged Entities to have systems and controls that are proportionate to the nature and size of the entity.

B. Is an approach to measure risk factors.

C. RBA considers three levels of risk: low, normal, high.

D. RBA requires resources to be allocated on all levels of risks equally.

As per the AML/CFT Law, identification procedures and CDD measures include the following

A.assess and obtain information on the purpose and intended nature of the business relationship.

B. monitor the business relationship only when reaching pre-defined thresholds.

C. identify the beneficial owner, yet not necessarily to understand the structure of the customer ownership and control.

D. identify the customer and verify the customer's identity on the basis of documents, data or information obtained based on personal judgment.

Please provide an email to send you your results and your name, once you have answered all the questions.

Time is Up!

Time's up

We remain at your disposal should you have any questions on the mock-up questions. Contact us at info@salvusfunds.com

#StayAhead.

Should you be interested to read about Anti-Money Laundering, please visit the selected articles below:

• AML: suspicious activity reporting and ML offences
• AML: compliance culture and reporting obligations
• AML: Customer verification and deposits
• Compliance Tips and Enforcement of AML Best Practices
• The Next Regulatory Regime of Anti-Money Laundering (AMLD5)

The information provided in this article is for general information purposes only. You should always seek professional advice suitable to your needs.