Spring Sale 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: save70

AML Certification CAMS Reddit Questions

Page: 4 / 30
Total 395 questions

Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Questions and Answers

Question 13

Which of the following corporate structures present a higher money laundering risk because of reduced transparency? (Select Three.)

Options:

A.

A limited liability company incorporated in a foreign jurisdiction

B.

A private company that has no activity in a tax haven jurisdiction

C.

A company with nominee shareholders and directors in a local jurisdiction

D.

A company with bearer shares incorporated in a tax haven jurisdiction

E.

A private investment company incorporated in a tax haven jurisdiction with strict secrecy laws

Question 14

How does the Financial Action Task Force (FATF) measure the effectiveness of a country's efforts to combat money laundering and terrorist financing?

Options:

A.

FATF Evaluation Committee

B.

Series of internal audits followed by reporting to FATF

C.

Basel Committee

D.

Mutual evaluation

Question 15

A bank has been fined for failing to take reasonable care to establish and maintain effective systems and controls for high-risk customers, including politically exposed persons (PEPs).

Which typical financial crime risks should the bank have addressed? (Choose three.)

Options:

A.

Gathering sufficient information to establish the source of funds and source of wealth

B.

Assessing the level of money laundering risk posed by prospective and existing high-risk customers

C.

Assessing and reviewing the minutes of the relevant committee responsible for onboarding customers

D.

Ensuring an employee is responsible for liaison with the authorities on matters related to countering the finance of terrorism

E.

Ensuring that resources in its compliance and AML areas kept pace with the bank's growth

Question 16

Which risks inherent to real estate sector carry the highest AML/CFT risk? (Select Two.)

Options:

A.

Use of cash to purchase property

B.

Unlicensed real estate agents acting as front companies

C.

Use of a registered trust for the purchase of property

D.

Use of a company for the purchase of property

E.

Manipulation of the value of a property

Page: 4 / 30
Total 395 questions