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ACAMS AML Certification CAMS New Questions

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Total 860 questions

Certified Anti-Money Laundering Specialist (the 6th edition) Questions and Answers

Question 137

An internal investigation log is primarily intended to:

Options:

A.

Provide training on investigations to the anti-money laundering officer and Financial IntelligenceUnit.

B.

Track the status of investigations into unusual activity.

C.

Report status of investigations to the Board of Directors.

D.

Report status of investigations to the Board of Directors.

E.

Detect and monitor possible suspicious activity.

Question 138

A compliance manager at a virtual asset service provider (VASP) is evaluating its business and its impact on AML policies. Which of the following features of the VASP's business would be of greatest concern? (Select Four.)

Options:

A.

Allowing clients lo transact anonymity-enhanced tokens

B.

Onboardlng of clients who are residents abroad. Including those with politically exposed person (PEP) status

C.

Enabling transfer of tokens from one blockchain to another

D.

Offering services to VASPs established in jurisdictions that are not FATF compliant

E.

Operating a network of crypto ATMs charging high fees

F.

Lack of adequate IP address tracking capabilities

Question 139

Under requirements for correspondent accounts in the USA PATRIOT Act, the word "certification" refers to a written representation by a

Options:

A.

federal receiver" certifying that he is not the beneficial owner of the correspondent account.

B.

respondent bank, certifying that they do not do business with politically exposed persons.

C.

correspondent bank, certifying that they do not open correspondent accounts for alternative remittance companies.

D.

respondent bank, certifying that they do not do business with shell banks.

Question 140

Which of the following activities conducted at a financial institution is the strongest example of avoiding reporting thresholds?

Options:

A.

Making small cash deposits over the course of a week.

B.

Performing transactions by check (cheque) or other payment instrument.

C.

Conducting small cash transactions at multiple locations during the same day.

D.

Establishing both a personal and business account and depositing cash in both.

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Total 860 questions