Summer Special - Limited Time 65% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: top65certs

Passed Exam Today CAMS

Page: 9 / 65
Total 860 questions

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

Question 33

A money remittance business will most likely attract money launderers because it

1.deals primarily in cash transactions.

2.engages in international transactions.

3. conducts transactions for walk-in customers.

4.does not have to comply with transaction reporting.

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 34

Which payment method for purchasing luxury items is a red flag for potential money laundering?

Options:

A.

Personal loan

B.

Cash

C.

Wire transfer

D.

Credit card

Question 35

Three individuals enter a casino and use cash to purchase chips worth 20,000 USD. The trio uses 200 USD in chips to play games and then combine their funds to request a casino cheque. What is the potential red flag that alludes to money laundering?

Options:

A.

The trio purchased the chips with cash and proceeded to gamble.

B.

The trio engage in minimal gambling and combine the funds to request a casino cheque for the chips presented.

C.

The trio uses chips worth 200 USD to gamble before requesting the refund.

D.

The trio purchased chips worth 20,000 USD and requested a casino cheque for the remaining chips.

Question 36

Which of the following is an important factor to consider when setting up an anti-financial crimes (AFC) compliance program governance structure?

Options:

A.

Ensuring the structure is reviewed by an outside auditor or consultant

B.

Establishing a system of internal controls commensurate with the institution’s size and complexity

C.

Designating a qualified board of directors to monitor day-to-day compliance

D.

Establishing clear roles and responsibilities for AFC risk escalations and issues

Page: 9 / 65
Total 860 questions