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ACAMS CAMS Questions Answers

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Total 772 questions

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

Question 145

An anti-money laundering analyst is reviewing a new customer list to confirm potentially high risk customers have been identified and subject to enhanced due diligence.

Which new customer warrants enhanced due diligence?

Options:

A.

A non-profit hospital

B.

A fundraising organization

C.

An employee benefit plan trust

D.

A medical practice limited partnership

Question 146

An institution receives a request for credit from a local company that has been a client for many years. The information provided by the company indicates that its assets have increased substantially with the addition of several new subsidiaries. Further research performed by the institution indicates the new subsidiaries are recently created shell companies.

Could this indicate potential money laundering?

Options:

A.

No, the company has been a client for many years.

B.

Yes, shell companies are typically created to manage tax liabilities.

C.

No, it is normal for a business to diversify by creating shell companies.

D.

Yes, the shell companies could have been created to hide beneficial ownership.

Question 147

A bank provides trade financing for a company whose primary export is steel.

Which action by the company indicates possible money laundering?

Options:

A.

The company often deals with foreign currency exchanges.

B.

The company regularly understates the value of goods exported.

C.

The company frequently sells above or below its competitors’ price.

D.

The company frequently transfers funds to other bank accounts located in other jurisdictions.

Question 148

Which product is considered to be of highest money laundering risk?

Options:

A.

Credit cards

B.

Savings accounts

C.

Time deposit accounts

D.

International wire transfers

Page: 37 / 58
Total 772 questions