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Newly Released ACAMS CAMS Exam PDF

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Total 772 questions

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

Question 161

A financial institution (FI) is being investigated for possible money laundering. When cooperating with law enforcement agencies, which additional steps should the FI ensure are taken? (Choose two.)

Options:

A.

Centralized control is maintained over all requests and responses to ensure completeness and timely responses.

B.

Make employees, including corporate officers, unavailable for interviews and refuse documents upon receipt of a subpoena.

C.

Subpoenas and other information requests should be reviewed by senior management and an investigations group or counsel.

D.

Address the document destruction policy to ensure the relevant documents are destroyed.

E.

Inquiries from the media are not answered directly, but rather are addressed by replying, "No comment."

Question 162

What does the Financial Action Task Force (FATF) urge its members and all other jurisdictions to do when a jurisdiction is identified as having lax anti-money laundering / counter financing of terrorism controls?

Options:

A.

Apply counter-measures to that jurisdiction

B.

Consider customers from that jurisdiction as high risk

C.

Cease doing business with that jurisdiction immediately

D.

Apply economic sanctions until otherwise notified by FATF

Question 163

An auction house dealing in fine art and antiques sells a well-known painting at a price of $12 million to an agent bidding for a group of local investors. The same painting sold ten years prior at auction for $5 million. The auction house receives payment for the painting via wire transfer from an account maintained in an offshore jurisdiction by the investor group. No beneficial ownership information is available for the account.

What are the two money laundering red flags? (Choose two.)

Options:

A.

The payment is received via wire transfer.

B.

An agent bids on the painting for a group of investors.

C.

The painting has more than doubled its value in ten years.

D.

Payment is received from an account in an offshore jurisdiction.

E.

Lack of beneficial ownership details for the originating account.

Question 164

Which activity would require an update to the first line training program?

Options:

A.

The implementation of a new system that provides information for monitoring customer accounts.

B.

The expansion to customer segments that will utilize newly established products.

C.

The maintenance of regulatory requirements for onboarding documentation collections of a customer base.

D.

The onboarding of a new customer type which was previously reviewed and risk rated.

Page: 41 / 58
Total 772 questions