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ACAMS Updated CAMS Exam Questions and Answers by ewan

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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: 772 Q&A's Shared By: ewan
Question 176

A non-U.S. bank wants to open an account at Bank A, which is a U.S.-based bank.

Which information must Bank A obtain under the USA PATRIOT Act?

Options:

A.

A complete client list from the non-U.S. bank

B.

The identity of owners and percentage of ownership of the non-U.S. bank

C.

The structure and identity of the management team at the non-U.S. bank

D.

The details of the non-U.S. bank’s anti-money laundering compliance training program

Discussion
Question 177

Why are Money Services Business (MSBs) frequently accused of being high risk for money laundering?

Options:

A.

A MSB should be used to hide money from a regulated entity

B.

MSBs generally charge lower commission rates than banks charge making them attractive to criminals

C.

MSBs can route funds to more high risk countries than banks

D.

MSBs are subject to regulatory scrutiny which varies greatly from country to country

Discussion
Question 178

What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?

Options:

A.

It is not used on a daily basis

B.

The service fees are insufficient to cover the cost of managing the account

C.

The respondent bank’s customer acceptance and know your customer policies are ineffective

D.

The volume and value of transactions passing through the account may not be in line with the original

correspondent agreement

Discussion
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Question 179

Which action indicates possible Penza scheme activity?

Options:

A.

A licensed seller offers higher profit on investments in a high risk country

B.

An unlicensed investment advisor offers profits other investments cannot guarantee

C.

A licensed investment advisor lures aging/retired professionals to invest in securities

D.

A unlicensed investment advisor offers returns that are competitive with industry benchmarks

Discussion
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