Acams crack4sure cams Actual Questions by Ela q122 vce pdf

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Exam Name:	Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Exam Code:	CAMS Dumps
Vendor:	ACAMS	Certification:	AML Certifications
Questions:	313 Q&A's	Shared By:	ela

Question 64

A large financial institution (FI) is considering expanding business to an area of the world with weak AML laws. The risk-based assessment indicates that the location will increase the FI's risk appetite beyond the stated acceptable amount.

Which risk factors should be used to identify the priority of the FI?

Options:

Cash-intensive businesses risks

Unknown third-party risks

Geographic risks

Anonymous transactions risks

Discussion

Question 65

When the Financial Action Task Force (FATF) places a jurisdiction on the list of "jurisdictions under increased monitoring," also known as the "grey list," the jurisdiction:

Options:

Accepts to participate in an off-cycle FATF mutual evaluation to be held within the next 12 months.

Must pay a fine to be removed from the list before the next FATF plenary.

Has committed to swiftly resolving the deficiencies identified in a FATF mutual evaluation.

Poses a high money laundering, terrorist financing and proliferation financing risk and must be restricted from accessing the international financial system.

Discussion

Question 66

According to guidelines issued by Basel Committee on Banking Supervision relating to corporate governance principles for banks, what is the role of the board of directors in addressing an institution's AML oversight and governance?

Options:

The board of directors should be responsible for overseeing the management of the bank's compliance risk but not involved in establishing a compliance policy that explains the processes by which compliance risks are to be identified and managed throughout the organization.

The board of directors should establish a compliance function and approve the bank's policies for identifying, assessing, monitoring, reporting, and advising on compliance risk.

The compliance function must have sufficient authority, stature, independence, and resources to be effective on its own and should not have access to the board of directors.

The compliance function should report directly to the CEO concerning the bank's compliance with applicable laws, rules, and standards and only update the board of directors on the bank's efforts in managing compliance risk when required.

Discussion

Question 67

According to the Financial Action Task Force (FATF) Recommendation regarding "tipping off," which of the following statements accurately describes the obligations of reporting entities?

Options:

Reporting entities are prohibited from disclosing to clients or third parties that a suspicious activity report (SAR) has been filed or that an investigation is ongoing

Reporting entities can share general information about suspicious activities internally within the organization without compromising confidentiality

Reporting entities must inform their clients if a suspicious activity report (SAR) has been filed, as part of maintaining transparency in customer relations

Reporting entities are allowed to discuss suspicious activities with clients if it helps clarify a situation before submitting a suspicious activity report

Discussion

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