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ACAMS CAMS Online Access

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Total 772 questions

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

Question 85

What does the Financial Action Task Force 40 Recommendations address on transparency of beneficial ownership?

Options:

A.

Gatekeepers

B.

Correspondent banking

C.

Payable through accounts

D.

Legal persons and arrangements

Question 86

A new compliance officer is reviewing the bank’s anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, renamed

the internal records group, and streamlined cash handling procedures.

Which factor causes the compliance officer to update the bank’s risk assessment?

Options:

A.

The bank acquired another institution

B.

The internal records group has been re-named

C.

The cash handling procedures were streamlined

D.

The risk assessment was completed six months ago

Question 87

An employee hears a colleague on the telephone with a customer giving advice on how to ensure that a

suspicious transaction report will not be filed as a result of a future transaction.

What action should the employee take?

Options:

A.

Report the conversation to the local police

B.

Report the conversation to the compliance officer

C.

Tell the colleague that it is against policy to give such advice

D.

Ignore the situation because the colleague is the relationship manager for that customer

Question 88

A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank’s jurisdiction.

Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)

Options:

A.

Identify the money laundering scheme and submit a suspicious transaction report

B.

Identify if there is a decrease in the sale of large denomination U.S. bank notes to casas de cambio by the

bank

C.

Identify deposits by casas de cambio that include third-party items including sequentially numbered

monetary instruments

D.

Identify multiple wire transfers initiated by casas de cambio to jurisdictions outside of Mexico that bear no

apparent business relationship with that casa de cambio

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Total 772 questions