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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: 763 Q&A's Shared By: harlan
Question 44

When deficiencies are identified in the Financial Action Task Force (FATF) mutual evaluation report, the assessed country needs to:

Options:

A.

address the shortcomings identified in the report and agree to post-assessment monitoring by FATF.

B.

request exception from the relevant FATF-style regional body by submitting a report with the reasons.

C.

pay a penalty for the delay in adopting the FATF 40 recommendations accurately and timely.

D.

prepare a report to defend its position against the FATF secretariat, which is comprised of the assessors.

Discussion
Question 45

The compliance department receives an internal referral that appears to indicate terrorist financing. What is the first step that should be taken in the investigation process?

Options:

A.

Notify the Board of Directors.

B.

Immediately file a suspicious activity report.

C.

Gather background and transaction information.

D.

Exit the relationship.

Discussion
Question 46

The bank's Compliance Officer is tasked with designing standards based on Basel's KYC principles. Which essential elements should be included in the program? (Choose two.)

Options:

A.

Appointing an independent audit function

B.

Conducting a money laundering risk assessment

C.

Documenting a customer acceptance policy

D.

Establishing on-going monitoring of high-risk accounts

E.

Reporting suspicious activity

Discussion
Question 47

A long-term client of an insurance company makes changes to a policy that require payment of an additional lump sum. The amount payable is high, though within the client's means based on the KYC information collected. The payment is made via a company in another jurisdiction that is known to have lax AML controls. Which indicator of suspicious activity is present?

Options:

A.

The payment was made via a company that appears to be owned and controlled by the client being insured.

B.

The payment was made via a company in a jurisdiction known to have lax AML controls.

C.

A long-term client wants a change to a policy that is already in force.

D.

The additional premium payable appears to be within the client's means based on the KYC information collected.

Discussion
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