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All CAMS Test Inside ACAMS Questions

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Total 772 questions

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

Question 185

A bank’s transaction surveillance system triggers an alert for a deposit of 250.000 USO into a client's account. According to the bank's KYC information, the client works for a financial advisory firm, and earns approximately 100,000 USD per year. Which actions should be taken? (Select Three.)

File the suspicious transaction immediately to the financial intelligence unit.

Options:

A.

Discard the alert as a false positive hit

B.

Request information and documentation from the client on the background of the transaction.

C.

Contact the client advisor to learn if he has any insight on the transaction background.

D.

Review the alert if the deposit is made in cash.

E.

Review the transaction background in the bank's transaction platform.

Question 186

A financial institution recently purchased anti-money laundering software. The software routinely generates more alerts than the anti-money laundering staff can properly analyze as a result of limited staffing. These alerts are generated by default software rules. Which of the following should the individual responsible for setting the anti-money laundering software parameters recommend?

Options:

A.

Reset software parameters to reduce risk sensitivity.

B.

Disable the software until more staff are trained to process alerts.

C.

Ensure alert parameters are based on risk.

D.

Adjust software parameters so the number of alerts decrease gradually.

Question 187

Which transaction monitoring processes would alert a bank for red flag activity?

Options:

A.

A client who does not typically make extravagant credit card purchases books an airline ticket on a travel website.

B.

The company has a name that is similar to that of a company whose directors are named on the bank's internal blacklist.

C.

A client makes a prepayment on their credit card and a week later makes multiple cash withdrawals using an automated teller machine (ATM) in a foreign country.

D.

A charity account receives multiple electronic transfers and then sends a wire transfer to a higher-risk country.

Question 188

What action should a bank CEO's assistant take when the bank CEO expenses large sums of money to a charitable organization run by the bank CEO's direct family member?

Options:

A.

Report the actions to the Executive Board of the bank.

B.

Meet with the bank CEO to learn why the donations are being made.

C.

Investigate the charitable organization's relationship with the bank CEO.

D.

Submit the concern anonymously to the bank's internal Compliance Hotline.

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Total 772 questions