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CAMS Exam Questions Tutorials

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Total 860 questions

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

Question 157

Challenges in the implementation of new technologies for AML/CFT include: (Select Four.)

Options:

A.

data privacy.

B.

enhanced due diligence (EDD) policies.

C.

the Travel Rule.

D.

data quality.

E.

complexity.

F.

regulatory.

Question 158

Which information should be provided to theBoard of Directors or a designated specialized committeewhen preparing aSuspicious Activity Report (SAR) report summary?

Options:

A.

All possible detailsof SARs filed during the reporting period.

B.

Copies of all SARs filedduring the reported period.

C.

Names of all customerssubject to SARs filed during the reported period.

D.

Statistical data regarding SARs filedduring the reported period.

Question 159

The compliance department receives an internal referral that appears to indicate terrorist financing. What is the first step that should be taken in the investigation process?

Options:

A.

Notify the Board of Directors.

B.

Immediately file a suspicious activity report.

C.

Gather background and transaction information.

D.

Exit the relationship.

Question 160

Whichpractices should financial institutions (FIs) adoptfor the process ofterminating customer relationships? (Select Three.)

Options:

A.

Utilizing a flexible communication style that adapts to different customer situations during the termination process.

B.

Implementing a standardized procedure for customer termination that includes risk assessments and necessary documentation.

C.

Performing a final review of a customer's transaction history and records to address any unresolved issues prior to termination.

D.

Keeping records of the termination process, including the justification for the decision and any correspondence with the customer.

E.

Notifying the customer of the termination decision only after completing the termination process to prevent possible disputes.

Page: 40 / 65
Total 860 questions