AMLA - MCQS WITH Answers PDF

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Anti-Money Laundering ActAnswe rNo. StatementC 1 It is a crime whereby the proceeds of an unlawful activity are transacted, thereby making them appear to have originated from legitimate source. A. FRAUD B. SCAM C. MONEY LAUNDERING D. SMUGGLING B 2 All of the following are functions of the AMLC excep...

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Anti-Money Laundering Act Answe r C

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B

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C

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D

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A

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Statement It is a crime whereby the proceeds of an unlawful activity are transacted, thereby making them appear to have originated from legitimate source. A. FRAUD B. SCAM C. MONEY LAUNDERING D. SMUGGLING All of the following are functions of the AMLC except: A. TO REQUIRE AND RECEIVE COVERED TRANSACTION REPORTS FROM COVERED INSTITUTIONS. B. TO INSTITUTE CIVIL FORFEITURE PROCEEDING AND ANOTHER REMEDIAL PROCEEDINGS THROUGH THE OFFICE OF THE SECRETARY GENERAL C. TO APPLY BEFORE THE COURT OF APPEALS, EX PARTE, FOR THE FREEZING OF ANY MONETARY INSTRUMENTS OR PROPERTY ALLEGED TO BE LAUNDERED, PROCEEDS FROM, OR INSTRUMENTALITIES USED IN OR INTENDED FOR USE IN ANY UNLAWFUL ACTIVITY D. TO ISSUE ORDER ADDRESSED TO THE APPROPRIATE SUPERVISING AUTHORITY Which of the following is not considered as an unlawful activity? A. VIOLATIONS OF THE ANTI-FENCING LAW B. VIOLATIONS OF THE ANTI-CARNAPPING ACT OF 2002 C. VIOLATIONS OF THE COOPERATIVE CODE OF 2008 D. VIOLATIONS OF THE FORESTRY CODE Any person knowing that any monetary instrument or property represents, involves or related to the proceeds of any unlawful activity transacts said monetary instrument or property, is penalized with: A. IMPRISONMENT FROM 4 YEARS TO 7 YEARS AND A FINE OF NOT LESS THAN P1,000 000 BUT NOT MORE THAN P3,000 000 B. IMPRISONMENT RANGING FROM 6 MONTHS TO 4 YEARS AND A FINE OF NOT LESS THAN P100 000 BUT NOT MORE THAN TWICE THE VALUE OF THE MONETARY INSTRUMENT OR PROPERTY INVOLVED IN THE OFFENSE. C. IMPRISONMENT OF 6 MONTHS TO 4 YEARS AND A FINE OF NOT LESS THAN P100 000 BUT NOT MORE THAN P500 000 D. IMPRISONMENT RANGING FROM 7 YEARS TO 14 YEARS AND A FINE OF NOT LESS THAN P3,000 000 BUT NOT MORE THAN TWICE THE VALUE OF THE MONETARY INSTRUMENT OR PROPERTY What is the penalty imposed upon a covered person, its directors, officers or personnel who knowingly participated in the commission of the crime of money

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C

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D

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laundering? A. IMPRISONMENT FROM 4 YEARS TO 7 YEARS AND A FINE NOT MORE THAN 200% OF THE VALUE OF THE MONETARY INSTRUMENT OR PROPERTY LAUNDERED B. IMPRISONMENT RANGING FROM 7 TO 14 YEARS AND A FINE OF NOT LESS THAN P3,000 000 BUT NOT MORE THAN TWICE THE VALUE OF THE MONETARY INSTRUMENT OR PROPERTY INVOLVED IN THE OFFENSE C. IMPRISONMENT OF 6 MONTHS TO 4 YEARS AND A FINE OF NOT LESS THAN P100 000 BUT NOT MORE THAN P500 000 OR BOTH D. IMPRISONMENT FROM 4 YEARS TO 7 YEARS AND A FINE OF NOT LESS THAN P1,500 000 BUT NOT MORE THAN P3,000 000 What penalty is imposed to any person who, knowing that any monetary instrument or property represents, involves or relates to the proceeds, fails to perform any act as a result of which he facilitates the offense of money laundering? A. IMPRISONMENT FROM 4 YEARS TO 7 YEARS AND A FINE OF NOT LESS THAN P1,500 000 BUT NOT MORE THAN P3,000 000 B. IMPRISONMENT RANGING FROM 7 YEARS TO 14 YEARS AND A FINE OF NOT LESS THAN P3,000 000 BUT NOT MORE THAN TWICE THE VALUE OF THE MONETARY INSTRUMENT OR PROPERTY INVOLVED IN THE OFFENSE C. IMPRISONMENT OF 6 MONTHS TO 4 YEARS AND A FINE OF NOT LESS THAN P100 000 BUT NOT MORE THAN P500 000 OR BOTH D. IMPRISONMENT RANGING FROM 3 YEARS TO 8 YEARS AND A FINE OF NOT LESS THAN P500 000 BUT NOT MORE THAN P1,000 000 What is the penalty imposed upon a covered person who, knowing that a covered or suspicious transactions, fails to report such transactions to the Anti-Money Laundering Council? A. IMPRISONMENT FROM 4 YEARS TO 7 YEARS AND A FINE OF NOT LESS THAN P1,500 000 BUT NOT MORE THAN P3,000 000 B. IMPRISONMENT RANGING FROM 7 YEARS TO 14 YEARS AND A FINE OF NOT LESS THAN P3,000 000 BUT NOT MORE THAN TWICE THE VALUE OF THE MONETARY INSTRUMENT OR PROPERTY INVOLVED IN THE OFFENSE C. IMPRISONMENT OF 6 MONTHS TO 4 YEARS AND A FINE OF NOT LESS THAN P100 000 BUT NOT MORE THAN P500 000 OR BOTH D. IMPRISONMENT RANGING FROM 3 YEARS TO 8 YEARS AND A FINE OF NOT LESS THAN P500 000 BUT NOT MORE THAN P1,000 000 It refers to gold, silver, platinum, palladium, rhodium, ruthenium, iridium and osmium. A. PRECIOUS STONES B. PRECIOUS MONEY C. MONEY INSTRUMENT D. PRECIOUS METALS Which of the following is not a covered institution? A. BANKS

B

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B. SECURITIES DEALER C. OPEN-END INVESTMENT COMPANIES D. INVESTMENT HOUSES The following composes the Anti-Money Laundering Council, except: A. GOVERNOR OF THE BANGKO SENTRAL B. CABINET MEMBER OF THE BANGKO SENTRAL C. COMMISSIONER OF THE INSURANCE COMMISSION D. CHAIRMAN OF THE SECURITIES AND EXCHANGE COMMISSION...