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ACAMS Updated CAMS Exam Questions and Answers by harlan

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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: harlan
Question 44

Which statement identifies one of the duties of a government Financial Intelligence Unit?

Options:

A.

It serves as the central agency for the receipt of disclosures filed by reporting entities.

B.

It administers and enforces economic and trade sanctions based on a government’s foreign policy and national security goals.

C.

It supervises and regulates banking institutions to ensure the safety and soundness of the nation’s banking and financial system.

D.

It prosecutes suspected money launderers and terrorist financiers based on financial institution suspicious transaction report filings.

Discussion
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Question 45

An organization uses an automated surveillance system that generates a very large volume of anti-money laundering alerts. The monthly volume of alerts has increased over the last year causing the compliance staff to fall significantly behind reviewing the alerts. As a result, the system settings are under review to determine if they are appropriate.

Which action should be included in the evaluation of system settings?

Options:

A.

Compare settings to organizations within its peer group

B.

Flag filters with no history of generating an alert for removal

C.

Review parameter settings based on the latest risk assessment

D.

Calibrate parameters based on staffing capabilities to clear alerts

Discussion
Question 46

In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.

What is another name for these internal, non-client accounts?

Options:

A.

Trust accounts

B.

Correspondent accounts

C.

Concentration accounts

D.

Pay through accounts

Discussion
Question 47

What are four key elements that a KYC program should contain according to the Basel Committee requirements?

Options:

A.

Customer onboarding, sanction monitoring, customer acceptance, customer due diligence

B.

Customer identification, risk assessment, customer screening, monitoring

C.

Customer onboarding, risk monitoring, customer acceptance, enhanced due diligence

D.

Customer identification, risk management, customer acceptance, monitoring

Discussion
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