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ACAMS Updated CAMS-FCI Exam Questions and Answers by scott

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ACAMS CAMS-FCI Exam Overview :

Exam Name: Advanced CAMS-Financial Crimes Investigations
Exam Code: CAMS-FCI Dumps
Vendor: ACAMS Certification: AML Certifications
Questions: 101 Q&A's Shared By: scott
Question 24

What action does the USA PATRIOT Act allow the US government to take regarding financial institutions (FIs) that are based outside of the US?

Options:

A.

Sanction a country when an individual Fl does not comply with US law.

B.

Subpoena documents from FIs that have no presence in the US.

C.

Revoke the banking licenses of non-US FIs in countries outside the US.

D.

Allow all US regulators to place a non-US Fl on the Specially Designated Nationals and Blocked Persons List.

Discussion
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Question 25

Which information is it best practice to share at the very beginning of a well-written SAR/STR narrative?

Options:

A.

A specific description of the involved accounts and transactions, including the origination and application of funds

B.

The purpose of the SAR/STR narrative and a general description of the known or alleged violation

C.

Information about any follow-up actions conducted by the financial institution on the account

D.

Any and all relevant facts about the parties who facilitated the suspicious activity or transactions

Discussion
Question 26

Which actions should financial institutions perform to ensure proper data governance? (Select Three.)

Options:

A.

Establish an appropriate data management method for collecting and storing information.

B.

Ensure the accuracy of customer identification records and transaction records and appropriately manage data as a prerequisite for the effective use of IT systems.

C.

For customers who are determined to be at high risk, review their risk rating and apply risk mitigation measures as appropriate.

D.

Periodically validate integrity and accuracy of information used for IT systems such as customer information, customer identification records, and transaction records.

E.

Evaluate the nature of foreign remittance under a risk-based structure of AML/CFT and take necessary measures in accordance with the risk-based approach.

F.

Review significant discrepancies between the values of the product reported on the invoice and the fair market value.

Discussion
Question 27

Which reputations risk consequence could a financial entity face for violating AML laws?

Options:

A.

Loss of high-profile customers

B.

Seizure of assets

C.

Increased audit costs to monitor behavior

D.

Monetary penalties

Discussion
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