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AML Certification CAMS Passing Score

Page: 46 / 58
Total 772 questions

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

Question 181

The marketing department presents to an anti-money laundering specialist a business plan targeting individuals holding important public positions. In addition to obtaining the proper identification and basic information from these customers, what else should theanti-money laundering specialist recommend a financial institution do to check the background and conduct enhanced due diligence based on public information?

1. Determine if a client appears on the Basel Committee on Banking Supervision's list of public officials.

2. Investigate the source of funds.

3. Identify people and companies that are clearly related.

4. Identify a person fully, including their political history.

Options:

A.

1, 2, and 3 only

B.

1, 2, and 4 only

C.

1, 3, and 4 only

D.

2, 3, and 4 only

Question 182

The AML compliance officer of a financial institution (Fl) has been advised that the institution is being investigated by the country's financial intelligence unit (FIU). What should the AML compliance officer do? (Select Two.)

Options:

A.

inform senior leadership and the board of the investigation.

B.

Share investigation results with other FIs to help them prepare.

C.

Monitor the progress of the investigation by keeping clear records.

D.

Send an informative communication to all employees about the investigation.

E.

Provide all information to the FIU as soon as possible to avoid delays.

Question 183

An EU Trust and Company Service Provider (TCSP) analyst notices some unusual activity while looking through a customer's financial statements and detailed general ledger. The customer is in the business of importing and exporting machineries. Which transaction indicator warrants further escalation to the compliance officer?

Options:

A.

Inter-company loans from the holding company to the subsidiary company to finance the shipment of machinery.

B.

The payment of virtual offices services overseas.

C.

The payment of consultancy fees to unrelated companies and service providers established in a foreign jurisdiction.

D.

The payment of company secretarial retainer fees to a foreign company in a tax efficient jurisdiction.

Question 184

Which of the following are the most suspicious transaction indicators related to casino activities?

1. A client requests a winnings check (cheque) in a third party's name.

2. Acquaintances bet against each other in even-money games and it appears they are intentionally losing to one of the parties.

3. A new client who is a large volume player asks the casino operator about the ability to transfer the funds to other locations in the same country.

4. A client requests the transfer of winnings to the bank account of a third party in a country without an effective anti-money laundering regime.

Options:

A.

1, 2, and 3 only

B.

1, 2, and 4 only

C.

1, 3, and 4 only

D.

2, 3, and 4 only

Page: 46 / 58
Total 772 questions