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

Changed CAMS Exam Questions

Page: 21 / 58
Total 772 questions

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

Question 81

On who does the ultimate responsibility for an institution’s anti-money laundering program rest?

Options:

A.

The designated AML Compliance Officer

B.

The institution’s Board of Directors

C.

All employees with customer contact

D.

The government regulator examining the AML program

Question 82

What are two requirements of United States financial institutions when conducting business with an

international institution as a result of the USA PATRIOT Act? (Choose two.)

Options:

A.

Performing enhanced due diligence on shell banks

B.

Performing due diligence on correspondent accounts

C.

Visiting the head office of the international financial institution

D.

Complying with Special Measures issued under the USA PATRIOT Act

Question 83

A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan. A law enforcement officer calls the anti-money laundering officer to discuss the suspicious transaction report. Which of the following is the anti-money laundering officer legally permitted to do?

1. Discuss any aspects of the reported activity.

2. Provide copies of the customer's loan documents.

3. Explain the customer's loan payment history.

4. Send the deposit documents referenced in the suspicious transaction report.

Options:

A.

1 and 2 only

B.

1 and 4 only

C.

2 and 3 only

D.

2 and 4 only

Question 84

Which of the following customer transactions with a securities dealer would indicate the highest suspicion of money laundering?

Options:

A.

Frequent trades in unlisted securities throughout the day on a regular basis.

B.

Recurring transfers of money into a brokerage account subsequently invested in short-term securities.

C.

An unexplained high level of account activity with very low levels of securities transactions

D.

Investment in securities with a significantly lower risk than the customer's expressed risk tolerance.

Page: 21 / 58
Total 772 questions