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ACAMS Updated CAMS Exam Questions and Answers by angelina

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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: angelina
Question 148

A financial institution receives a regulatory enforcement action because of deficiencies in its anti-money

laundering program.

Which action should the board of directors take?

Options:

A.

Terminate the compliance officer and staff

B.

Purchase and install a new suspicious activity monitoring system

C.

Hire an attorney with instructions to protest the enforcement action

D.

Instruct the compliance officer to develop a plan to remediate the institution’s anti-money laundering

program

Discussion
Question 149

As a result of an audit, a policy exception was identified that had been approved by the compliance officer.

The auditor determined that the policy exception is a violation of a regulatory requirement.

What should the auditor do?

Options:

A.

Advise the compliance officer on how to appropriately respond to policy exceptions.

B.

Include the regulatory violation in the audit report and report it to the board of directors.

C.

Consult with legal counsel to determine if the approval of the policy exception was acceptable.

D.

Include the regulatory violation in the audit report and recommend the compliance officer be subject to

disciplinary action by the board of directors.

Discussion
Question 150

An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the following item s should be delivered?

1. Monthly statements and transaction activities for that individual since 2004.

2. All wire transfers for that individual since 2004.

3.Signature cards from accounts opened by that individual since 2004.

4. All security trading activities for that individual since 2004.

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

Discussion
Question 151

What are two requirements for monitoring and reporting suspicious activity for correspondent banking

according to the Wolfsberg Principles? (Choose two.)

Options:

A.

Incorporate suspicious activity monitoring into periodic reviews

B.

Incorporate due diligence results such as customer risk ratings

C.

Utilize downstream correspondents to investigate and report suspicious activity

D.

Investigate and report suspicious activity only for the correspondent bank’s clients

Discussion
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