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Exactprep CAMS Questions

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Total 772 questions

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

Question 117

Which step should be taken to understand the types of financial institutions to whom the services are being offered when a correspondent bank permits “nested” relationships according to the Wolfsberg Group?

Options:

A.

Review peer-group clients by risk category

B.

Understand the type and volume of accounts serviced

C.

Evaluate the distribution of downstream correspondents and identify any direct or indirect issues

D.

Obtain independent audits or examination reports for “nested” relationships to determine risk levels

Question 118

In performing a risk analysis, which factor(s) should a financial institution review?

Options:

A.

The level of its gross revenue

B.

Recent regulatory actions against financial institutions of comparable size

C.

Its customer base, location, products and services

D.

The adequacy and completeness of its STR filings

Question 119

Bank A is a non-United States (U.S.) bank that has $5 million in a correspondent account at a bank in New York City. The Worldwide Terrorist Syndicate (WTS) has $1 million in its account at a non-US branch of Bank A. The U.S. government has initiated forfeiture action against the WTS.

Which potential action can the U.S. take under the USA PATRIOT ACT pursuant to the issuance seizure warrant?

Options:

A.

Seize Bank A’s $5 million correspondent account in the U.S.

B.

Seize WTS’ $1 million account at the non-U.S. branch of Bank A.

C.

Seize $1 million from Bank A’s correspondent account in the U.S.

D.

Seize $5 million from the non-U.S. branch of Bank A where the WTS’ account is located.

Question 120

A commission rogatory would be used in which gateway to obtain information from another country?

Options:

A.

An FIU request under the Egmont principles

B.

An MLAT request

C.

A supervisory channel request with the Basel Committee

D.

A FATF request

Page: 30 / 58
Total 772 questions