MONEY LAUNDERING & TERRORIST FINANCING PREVENTION PROGRAM (MTPP) SEMINAR

LEARNING CHECK: PRE-VALIDATION TEST

NAME: SCORE:
BANK/COMPANY: DATE:

MULTIPLE CHOICE: ENCIRCLE THE CORRECT ANSWER.

1. The fight against money laundering and terrorist financing activities needs your vigilance.
a. The statement is TRUE.
b. The statement is FALSE.
c. The statement is half TRUE and half FALSE.
d. I don’t care.
2. What are the three stages of Money Laundering?
a. Placement, Layering and Integral
b. Placement, Layer and Integration
c. Place mat, Layering and Integration
d. Placement, Layering and Integration
3. What Republic Act (R. A.) can you find the Anti-Money Laundering (AML) Act of 2001 of
the Philippines, that criminalizes the money laundering violations?
a. R. A. No. 9160
b. R. A. No. 9194
c. R. A. No. 10167
d. R. A. No. 10168
4. What are the three (3) member institutions under Anti-Money Laundering Council (AMLC)?
a. BSP, Insurance Commission and SEC
b. SEC, BSP and PNP
c. BSP, NBI and SEC
d. BSP, NBI and PNP
5. Padala Dito, Padala Doon Company is an entity providing money or value transfer service
(MVTS). What is their classification under BSP?
a. Pawnshop
b. Remittance and Transfer Company
c. Money Changing Business
d. Foreign Exchanging Business
6. Mr. Bombastic is guilty of terrorism financing. What will be the penalty for the commission of
terrorism financing?
a. Imprisonment of 12-20 yrs and penalty of P500K to P1Mn
b. Imprisonment of 12-20 yrs and maximum of 20-40 yrs and fine of P500K to P1Mn
c. Imprisonment of 12-20 yrs only
d. Imprisonment of 20-40 yrs only
7. Padala Dito, Padala Doon Company is a remittance & transfer company (RTC). What is/are its
duty/ies as a remittance and transfer company (RTC)?
a. Know-Your-Customer and Customer Due Diligence (KYC/CDD)
b. Record Keeping and Retention
c. Covered & Suspicious Transaction Reporting and Attending AML Seminar
d. All of the above
8. Per BSP Circular No. 706, as amended by Circular Nos. 950 & 1022, which of the following is NOT
a minimum required information to be obtained from customers?
a. Name of Customer and PhilSys Number
b. Date and Place of Birth
c. Civil Status
d. Citizenship or Nationality
9. Client Remy Terr wishes to send funds amounted to P51K to her sister for payment of tuition
fee. What are the required information from both parties (originator & beneficiary)?
a. Name only of both parties
 b. Account or Unique Reference Number only of both parties
c. Name & Account or Unique Reference Number of both parties
d. Name & Account or Unique Reference Number of both parties, in addition the Address
or National ID or Customer Number of Originator.
10. Agent Mr. Inno Tousan is claiming the remittance for Mr. Andy Lim amounted to P20K because,
Mr. Lim got hospitalized. What shall you do?
a. Process the transaction right away.
b. Agent shall present authorization letter, ID of Mr. Lim and his own ID prior to
processing.
c. Decline the transaction as it is not allowed by the BSP.
d. Call and confirm from Mr. Lim if the agent is authorized to claim the funds.
11. Ms. Amy Ricana is a foreign national who wants to send money to her parents in America for
medical expenses. What document will you require from her?
a. Any Identification Document (ID) issued abroad
b. Passport and Alien Certificate of Registration (ACR)
c. Passport or Alien Certificate of Registration (ACR)
d. Visa and Passport
12. Karen Deria is sending money in Cebu as capital for her newly opened eatery. She presented to
you a DTI Certificate. How will you verify it?
a. Check if it bears correct & complete name of business and of owner
b. Check the 5-yr validity period & issue date is not weekend or holiday
c. Check the business name or certificate number in the DTI website
d. All of the above
13. Kathy Walian wants to claim a fund & presented her 2 valid IDs. You saw that both IDs have
same pictures where it should not be. What will you do?
a. Proceed with the interview and tactfully deny her transaction
b. Retain a photocopy of her tampered IDs.
c. File necessary Suspicious Transaction Report (STR) against the client
d. All of the above
14. Which of the following is/are Covered Person under AMLA?
a. Banks
b. Money Service Businesses (money changers, forex dealers, remittance agents)
c. Non-stock Savings and Loan Associations
d. All of the above
15. Miss Placed failed to provide the KYC records of customers during investigation as files are
missing. What will be her penalty if proven guilty?
a. 6 months to 1 year of imprisonment only
b. 6 months to 1 year of imprisonment or a fine of not less than Php100,000.00 but not
more than Php500,000.00 or both
c. Fine of not less than Php100,000.00 but not more than Php500,000.00 only
d. 6 months of imprisonment only
16. All “covered and suspicious transactions” shall be reported by the covered institutions to what
agency:
a. AMLC
b. BSP
c. SEC
d. Both AMLC and BSP
17. Maka Kalimutin neglected to file STR on her client who is subject of negative news due to graft &
corruption case. If guilty, what is the penalty?
a. Imprisonment from 6 mos. to 4 yrs. only
b. Fine of not less than P100K but not more than PHP500K only
c. Imprisonment from 6 mos. to 4 yrs. or fine of P100K up to P500K, or both
d. Imprisonment of 4 years only.
18. Padala Mo Company has a total assets of P50Mn. Per BSP audit, majority of its employees and
sub-agents did not attend AMLA seminar. What is the possible penalty?
a. ₱10,000 per violation, but not exceeding ₱100,000.00
 b. ₱25,000 per violation, but not exceeding ₱250,000.00
c. ₱50,000 per violation, but not exceeding ₱500,000.00
d. ₱75,000 per violation, but not exceeding ₱750,000.00
19. Manny Londres is engaged in human trafficking. He wants to send money to Iran as show money
of his victim. If proven guilty, what is the penalty of Mr. Londres?
a. Imprisonment of 7 years only
b. Imprisonment of 7 to 14 years only
c. Imprisonment: 7 to 14 yrs & fine of P3Mn but not more than 200% of money laundered.
d. Fine of not more than P3Mn only.
20. Ms. Facilitator knew that the funds of Mr. Londres is a dirty money. However, she still processed
the fund transfer. If found guilty, what is the penalty of Ms. Facilitator?
a. Imprisonment of 4 years only
b. Imprisonment of 4 to 7 years only
c. Fine of P1.5Mn up to P3Mn only
d. Imprisonment: 4 to 7 yrs & fine of P1.5Mn up to P3Mn.
21. Mr. Forget It is found guilty for not filing STR against the processed wire transfer of Mr. Londres.
If found guilty, he will be penalized of:
a. Imprisonment: 6 mos. to 4 yrs AND fine P100K up to P500K
b. Imprisonment: 6 mos. to 4 yrs OR fine of P1M up to P5M or both
c. Imprisonment: 6 mos. to 4 yrs OR fine of P100K up to P500K or both
d. Imprisonment: 1 to 4 yrs OR fine of P100K up to P500K or both
22. No remittance transaction shall be processed without:
a. Face-to-face contact or interview with the client
b. The MINIMUM information and ID required
c. Both A & B
d. Either A or B alone is sufficient
23. Cashier Irmah Daldal disclosed to client that STR was filed due to unexplained remittance
transactions made 3 days ago. If proven guilty, the penalty is:
a. Imprisonment: 3 to 8 yrs and fine of P500K up to P1Mn
b. Imprisonment: 3 to 8 yrs or fine of P500K up to P1Mn
c. Imprisonment: 3 to 8 yrs only
d. Fine of P500K up to P1Mn only

END OF PRE-VALIDATION TEST. GOD BLESS YOU & STAY SAFE!