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Total 772 questions

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

Question 121

A remittance company received a money order from a senior political figure m the Philippines to transfer a large sum of money to a charity group in the Philippines. A review of the charity group revealed a director having dose ties with a known terrorist group primarily financed through kidnapping and extortion.

What is a key risk indicator associated with terrorism financing?

Options:

A.

The sender is a Political Exposed Person (PEP) and should be subject to enhanced due diligence

B.

A large sum sent by money order to a charity

C.

There is no risk relating of terrorism financing when the charity group is operating legitimately in that country

D.

There is a link between the charity group and a known terrorist group

Question 122

What are three potential issues for foreign financial institutions maintaining correspondent accounts with U.S. banks under the Patriot Act? Choose 3 answers

Options:

A.

Cancellation of correspondent banking relationships

B.

Forfeiture of funds in a U.S. interbank account

C.

Prohibition of correspondent accounts for shell banks

D.

U.S. residents maintaining private banking accounts

Question 123

Which Trust parties should be identified to determine the true nature of the Trust relationship according to Basel guidelines? (Choose three.)

Options:

A.

Respondents

B.

Payees

C.

Trust Administrators

D.

Trustees

E.

Beneficiaries

F.

Settlors/grantors

Question 124

An AML training program should include which requirement?

Options:

A.

New tellers should receive training after their first year on the identification of suspicious or unusual activity.

B.

New lending staff should receive annual training on the preparation of currency transaction reporting.

C.

New staff should receive training during employee orientation or shortly thereafter on bank procedures.

D.

New operational staff should receive training shortly after hire on currency transaction reporting exemptions.

Page: 31 / 58
Total 772 questions