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ACAMS CAMS Questions Answers

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Total 860 questions

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

Question 145

In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?

Options:

A.

Identifying how customers are using products

B.

Highlighting the skills of the system analysts

C.

Proving to the Board of Directors that the FIU is doing its job

D.

Meeting mandatory regulatory requirements for system implementation

Question 146

The new compliance officer has reviewed the bank’s anti-money laundering training program. The program consists of online training for all new employees within 30 days of hire date and annual refresher training to all employees. In addition, there is specialized training for areas that deal with higher risk products and customers.

Over the last year, there have been no regulatory changes and no new products or services have been introduced. The compliance officer wants to propose to the board of directors that the annual refresher training is still current and can be delivered unchanged to all employees.

Which two critical pieces of information could be missed by taking this approach? (Choose two.)

Options:

A.

Any new trends, developments, or risks

B.

Results of the previous year’s risk assessment

C.

Changes to internal policies, procedures, and processes

D.

Links to enforcement actions identifying violations in other financial institutions

Question 147

A bank receives a wire transfer that references the sale of equipment to a sanctioned company. The bank's operations team removes the sanctioned company reference and allows the wire transfer to process. This is a description of what type of activity?

Options:

A.

U-turn payment

B.

Cover payment misuse

C.

Layering

D.

Wire stripping

Question 148

What are three indicators of money laundering associated with using electronic funds transfers? Choose 3 answers

Options:

A.

Funds transfers to or from a financial secrecy haven without an apparent business reason

B.

Regular and frequent transfers from the account of a large company said to be payment for goods bought on credit

C.

Funds transfers are received or sent from the same person to or from different accounts

D.

Payment or receipts with no apparent link to legitimate contracts, goods or services

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Total 860 questions