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

According to Basel Committee on Banking Supervision's Customer Due Diligence for Banks, which of the following should provide an evaluation of a bank's policies and procedures independent from its management?

Options:

A.

The credit risk department

B.

The Board

C.

A peer institution

D.

The compliance function

Discussion
Question 177

When should the anti-money laundering risk assessment be updated?

Options:

A.

Every two years

B.

After a merger or acquisition

C.

When the board of directors changes

D.

When instructed to by the Financial Action Task Force

Discussion
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Question 178

Which method is indicative of potential money laundering and terrorist financing activity?

Options:

A.

Client converts 500 Euro in mixed denomination notes to small denomination U.S. bills in a single transaction

B.

A commercial client in the export business regularly receives wire transfers from high risk countries

C.

An unknown client purchases multiple monetary instruments for one person during the course of one day

D.

An unknown client pays $1,000 in cash for an urgent transfer to a high risk country

Discussion
Question 179

Which scenario is closest to the definition of money laundering the United Nations Convention against Transnational Organized Crime and Other Protocols provided?

Options:

A.

Filing a suspicious transaction report when you know or suspect money laundering is taking place

B.

Knowingly financing a resort development with the proceeds of arms trafficking

C.

Assisting a client in a property conveyance by effecting the transfer of ownership from the seller to the purchaser when you don’t know the purchaser

D.

Discussing your suspicions with a client, thus giving the client the opportunity to switch service providers and to cover his tracks in future transactions

Discussion
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