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CAMS Exam Results

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Total 772 questions

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

Question 189

Which is a red flag for funds transfers?

Options:

A.

Funds transfers are received in numerous small quantities from entities that are in related industries.

B.

Funds transfers are repeatedly sent to the same beneficiary out of line with the business purpose.

C.

Funds transfers are repetitive and within expected patterns.

D.

Funds transfers are to a higher-risk geographic location with a known supplier within the same industry as the originator.

Question 190

What is an example of a legal risk a financial institution (FI) could face if it is sanctioned for failure to report suspected fraud activity?

Options:

A.

Foreign correspondents could terminate their relationships with the sanctioned bank.

B.

Clients of the bank might draw down the reserves of the bank and lead to liquidity issues.

C.

The bank could be forced to reimburse the victims of the fraudster for the losses suffered.

D.

The bank could see higher default rates on loans granted to companies owned by the fraudster.

Question 191

Which information should be gathered as part of enhanced due diligence (EDD) for a high-risk customer?

Options:

A.

Explanations for changes in marital status

B.

Details on individuals with control over the account

C.

Plans for traveling in business trips

D.

Personal references

Question 192

During the course of work on behalf of a client, a lawyer participated in the movement of money. If the lawyer suspects an act of money laundering, which of the following should the lawyer do according to European Union Money Laundering Directives?

Options:

A.

Follow bank secrecy laws.

B.

Report the facts to the competent authorities.

C.

Inform the client of the intent to terminate services.

D.

Adhere to business confidentiality laws.

Page: 48 / 58
Total 772 questions