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New Release CAMS AML Certification Questions

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Total 772 questions

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

Question 105

Which scenario is closest to the definition of money laundering the United Nations Convention against Transnational Organized Crime and Other Protocols provided?

Options:

A.

Filing a suspicious transaction report when you know or suspect money laundering is taking place

B.

Knowingly financing a resort development with the proceeds of arms trafficking

C.

Assisting a client in a property conveyance by effecting the transfer of ownership from the seller to the purchaser when you don’t know the purchaser

D.

Discussing your suspicions with a client, thus giving the client the opportunity to switch service providers and to cover his tracks in future transactions

Question 106

In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?

Options:

A.

A system of internal policies, procedures and controls

B.

A designated compliance officer with day-to-day oversight over the AML program

C.

An ongoing employee training program

D.

A description of its OFAC program to address government watch list screening

Question 107

When creating an anti-money laundering program for a foreign bank with branches in the United States, which of the following are included among the four minimum elements required under the USA PATRIOT Act?

1. The development of a Know Your Customer program.

2. An ongoing employee training program.

3. The designation of a compliance officer.

4. An independent audit function to test the program.

Options:

A.

1, 2, and 3 only

B.

1, 2, and 4 only

C.

1, 3, and 4 only

D.

2, 3, and 4 only

Question 108

A non-U.S. bank wants to open an account at Bank A, which is a U.S.-based bank.

Which information must Bank A obtain under the USA PATRIOT Act?

Options:

A.

A complete client list from the non-U.S. bank

B.

The identity of owners and percentage of ownership of the non-U.S. bank

C.

The structure and identity of the management team at the non-U.S. bank

D.

The details of the non-U.S. bank’s anti-money laundering compliance training program

Page: 27 / 58
Total 772 questions