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Legit CAMS Exam Download

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Total 772 questions

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

Question 113

An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution.

Which three should be included? Choose 3 answers

Options:

A.

Basel Committee on Banking Supervision’s capital adequacy requirements for the host country

B.

A training program for senior management and staff

C.

An anti-money laundering compliance program, internal audit program, and procedure manual

D.

Compliance requirement of host and charting countries

Question 114

Which insurance product is particularly vulnerable to money laundering?

Options:

A.

Annuity

B.

Casualty

C.

Collateral

D.

Regulated pension

Question 115

A close relative of a privately-owned bank's senior manager requests to open an account. Because of this relationship, the staff expedites the opening of the account without following established account-opening procedures. Applying the Basel Committee on Banking Supervision principles, which of the following poses the highest operational risk?

Options:

A.

Failure to conduct proper due diligence.

B.

The possibility of lawsuits that adversely affect the operations of a bank.

C.

The bank's exposure to politically exposed persons.

D.

Not having appropriate information to share with Financial Intelligence Units.

Question 116

A suspicious transaction report has been filed on an account owned by the wife of the bank's Chief Executive Officer. Which of the following is the most important consideration when deciding whether to recommend closing the account?

Options:

A.

The institution's anti-money laundering policy

B.

Requests from the competent authority

C.

Customer relations

D.

Chief Executive's reputational risk

Page: 29 / 58
Total 772 questions