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Passed Exam Today CAMS

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Total 860 questions

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

Question 33

Which of the followingscenarios warrants enhanced due diligence (EDD)?(Select Three.)

Options:

A.

The former personal secretary to the minister of transport in a low-risk country 25 years ago opening a bank account at a bank in a neighboring low-risk country.

B.

An existing local league footballer trying to open a bank account with a bank in their local jurisdiction.

C.

A bank located in a higher-risk country trying to establish a correspondent-respondent banking relationship with a bank in a lower-risk country.

D.

An individual with a current bank account who resides in one country becoming the ambassador of another country.

E.

The current prime minister of a country trying to open a bank account in another country.

Question 34

Whichred flagscould indicateincreased terror financing and money laundering risksrelated tocultural objects? (Select Three.)

Options:

A.

Use ofart storage facilitieslocated intax-free zones.

B.

Payingfair market valueorpremium pricesfor valuable art, gems, or precious metals at auction.

C.

Engagement ofthird-party art advisorsas representatives at art auctions.

D.

High-quality single pieces of significant valuesold on social media platforms.

E.

Use ofart and antiquity expertsto verify an item’s authenticity.

Question 35

What is the first step that an investigator should take when beginning a financial investigation into a potential suspicious activity?

Options:

A.

Contacting the country's financial intelligence unit (FIU) officers to seek advice on whether the potential suspicious activity is indeed suspicious.

B.

Determining whether the potential suspicious activity is consistent with the customer's transactional behavior, nature of business, and occupation.

C.

Gathering and assessing internal sources of information, including information obtained from the customer, transactions, and value and volume.

D.

Identifying and reviewing external information, including online presence, customer-related entities, and relevant media.

Question 36

The Wolfsberg Group's 2012 "Principles (or Private Banking" established that.

Options:

A.

private banks agree that transparency of client beneficial ownership Is necessary and appropriate.

B.

due diligence requirements tor private banking customers are necessary to prevent predicate offenses.

C.

risk based approaches are insufficient to address the heightened risk presented through private banking

D.

private banks need to better coordinate and align their global AML control environment strategies.

Page: 9 / 61
Total 860 questions