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120 Anti-Money Laundering (AML) Basics Training Practice Questions (2026)

Below is a complete list of real practice questions you may be asked during the Anti-Money Laundering (AML) Basics Training. Try answering each one yourself before checking your knowledge. If you find questions you don’t know, you can study them using our interactive spaced-repetition flashcards that repeat what you forget.

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Full Question List

  1. Question 1

    What is money laundering?

  2. Question 2

    What are the three stages of money laundering?

  3. Question 3

    What is AML compliance?

  4. Question 4

    What is the Bank Secrecy Act (BSA)?

  5. Question 5

    What is FinCEN?

  6. Question 6

    What does KYC stand for?

  7. Question 7

    What information is collected during KYC?

  8. Question 8

    What is Customer Due Diligence (CDD)?

  9. Question 9

    What is Enhanced Due Diligence (EDD)?

  10. Question 10

    Who is a Politically Exposed Person (PEP)?

  11. Question 11

    What is a red flag in AML?

  12. Question 12

    What is structuring or smurfing?

  13. Question 13

    What are red flags for cash transactions?

  14. Question 14

    What are red flags for wire transfers?

  15. Question 15

    What customer behavior raises red flags?

  16. How many did you know?

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  17. Question 16

    What is a Suspicious Activity Report (SAR)?

  18. Question 17

    When must a SAR be filed?

  19. Question 18

    What is tipping off?

  20. Question 19

    What is a Currency Transaction Report (CTR)?

  21. Question 20

    What happens after filing a SAR?

  22. Question 21

    What is terrorist financing?

  23. Question 22

    What is the USA PATRIOT Act?

  24. Question 23

    What is an AML program?

  25. Question 24

    Who needs to comply with AML regulations?

  26. Question 25

    What are the penalties for AML violations?

  27. Question 26

    What is beneficial ownership?

  28. Question 27

    What is ongoing monitoring?

  29. Question 28

    What is customer risk rating?

  30. Question 29

    What documents verify customer identity?

  31. Question 30

    When should customer information be updated?

  32. How many did you know?

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  33. Question 31

    What are red flags for account activity?

  34. Question 32

    What geographic red flags exist?

  35. Question 33

    What are shell company indicators?

  36. Question 34

    What are red flags for trade transactions?

  37. Question 35

    What are third-party payment red flags?

  38. Question 36

    What should be included in a SAR?

  39. Question 37

    Who can file a SAR?

  40. Question 38

    What is safe harbor protection?

  41. Question 39

    Can you continue serving a customer after filing SAR?

  42. Question 40

    What is a CTR exemption?

  43. Question 41

    What is a money service business (MSB)?

  44. Question 42

    What is the FATF?

  45. Question 43

    What are FATF recommendations?

  46. Question 44

    What is trade-based money laundering?

  47. Question 45

    What is correspondent banking?

  48. How many did you know?

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  49. Question 46

    What is a customer identification program (CIP)?

  50. Question 47

    What is negative news screening?

  51. Question 48

    What is sanctions screening?

  52. Question 49

    What is OFAC?

  53. Question 50

    What is a high-risk customer?

  54. Question 51

    What are red flags for real estate transactions?

  55. Question 52

    What are cryptocurrency red flags?

  56. Question 53

    What are insurance product red flags?

  57. Question 54

    What are loan red flags?

  58. Question 55

    What are charitable organization red flags?

  59. Question 56

    What is the look-back period for SARs?

  60. Question 57

    What happens if you miss SAR deadline?

  61. Question 58

    Should you investigate before filing a SAR?

  62. Question 59

    Can regulators request to see SARs?

  63. Question 60

    What is aggregation in CTR filing?

  64. How many did you know?

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  65. Question 61

    What is a shell bank?

  66. Question 62

    What is layering in money laundering?

  67. Question 63

    What is integration in money laundering?

  68. Question 64

    What is placement in money laundering?

  69. Question 65

    What is a funnel account?

  70. Question 66

    What is simplified due diligence?

  71. Question 67

    What is a family member of a PEP?

  72. Question 68

    What is a close associate of a PEP?

  73. Question 69

    What is source of wealth?

  74. Question 70

    What is source of funds?

  75. Question 71

    What are red flags for business accounts?

  76. Question 72

    What are red flags for cash businesses?

  77. Question 73

    What are employee red flags?

  78. Question 74

    What are red flags for foreign exchanges?

  79. Question 75

    What are red flags for check transactions?

  80. How many did you know?

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  81. Question 76

    What is a continuing SAR?

  82. Question 77

    What is SAR confidentiality?

  83. Question 78

    Who has access to filed SARs?

  84. Question 79

    What is a defensive SAR filing?

  85. Question 80

    Can you file a SAR on a prospect?

  86. Question 81

    What is an AML compliance officer?

  87. Question 82

    What is an AML audit?

  88. Question 83

    What is AML training?

  89. Question 84

    What is transaction monitoring?

  90. Question 85

    What is a high-risk jurisdiction?

  91. Question 86

    What is a domestic PEP?

  92. Question 87

    What is a foreign PEP?

  93. Question 88

    What is a non-face-to-face customer?

  94. Question 89

    What is customer exit or de-risking?

  95. Question 90

    What is a risk-based approach?

  96. How many did you know?

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  97. Question 91

    What are red flags for nonprofit organizations?

  98. Question 92

    What are red flags for attorneys or accountants?

  99. Question 93

    What are red flags for casinos or gaming?

  100. Question 94

    What are red flags for precious metals dealers?

  101. Question 95

    What are red flags for vehicle sales?

  102. Question 96

    What is SAR recordkeeping requirement?

  103. Question 97

    What is the no-subject SAR situation?

  104. Question 98

    Can you close account after filing SAR?

  105. Question 99

    What is a joint SAR filing?

  106. Question 100

    What is the BSA E-Filing System?

  107. Question 101

    What is hawala?

  108. Question 102

    What is a designated non-financial business?

  109. Question 103

    What is the Wolfsberg Group?

  110. Question 104

    What is a red flag indicator?

  111. Question 105

    What is a virtual currency?

  112. How many did you know?

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  113. Question 106

    What is biometric verification?

  114. Question 107

    What is adverse media?

  115. Question 108

    What is transaction purpose?

  116. Question 109

    What is expected account activity?

  117. Question 110

    What is a control person?

  118. Question 111

    What are red flags for elderly customers?

  119. Question 112

    What are red flags for student accounts?

  120. Question 113

    What are red flags for payroll accounts?

  121. Question 114

    What are red flags for medical professionals?

  122. Question 115

    What are red flags for art dealers?

  123. Question 116

    What is the role of management in SAR process?

  124. Question 117

    What is SAR narrative?

  125. Question 118

    What is the difference between SAR and CTR?

  126. Question 119

    Can you file SAR on your own employee?

  127. Question 120

    What is suspicious activity log?

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