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ACAMS Updated CAMS Exam Questions and Answers by maysa

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ACAMS CAMS Exam Overview :

Exam Name: Certified Anti-Money Laundering Specialist (the 6th edition)
Exam Code: CAMS Dumps
Vendor: ACAMS Certification: AML Certification
Questions: 763 Q&A's Shared By: maysa
Question 12

What is a key objective of the Egmont Group?

Options:

A.

Validate Financial Action Task Force implementations in countries and territories through a system of evaluations

B.

Provide enforcement recommendations to national law enforcement agencies pursuant to a memorandum of understanding

C.

Exchange international law interpretations among regulators through plenary sessions

D.

Foster better and secure communications across financial intelligence units through the application of technology

Discussion
Question 13

According to Basel Committee on Banking Supervision guidelines, which of the following statements best describes the relationship between the internal audit function and compliance?

Options:

A.

The internal audit methodology should include an assessment of compliance risk.

B.

An internal audit program of adequacy of the bank's compliance function should be es-tablished, but should not include review of transactions.

C.

The compliance function and internal audit function should be combined.

D.

The auditors should not discuss internal audit findings with compliance management to maintain independence.

Discussion
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Question 14

Which scenario best justifies why a customer's account might be closed by a financial institution?

Options:

A.

The account has transactions that triggered multiple suspicious activity reports.

B.

The customer uses a shipping company dealing with specially designated nationals.

C.

The customer is the object of a civil subpoena.

D.

The account shows periodic fixed amount remittances for tuition fees.

Discussion
Question 15

An internal review of anti-money laundering training documentation revealed only new agents employed by a financial institution that sells life insurance products were trained. Additionally, it typically took the institution 8 months to begin training for new actuaries. The compliance officer explained training was limited to actuaries because they perform the only high-risk function. The institution relied on e-learning techniques without follow-up assessment.

Which of the following issues would the internal review most likely recommend?

Options:

A.

All staff, apart from the Board of Directors, must be trained.

B.

Pro duct-specific anti-money laundering training should be provided company-wide.

C.

The institution must provide anti-money laundering training to actuaries within 6 months.

D.

Continue using e-learning to emphasize anti-money laundering content during training.

Discussion
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