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ACAMS Updated CAMS Exam Questions and Answers by wilbur

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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: wilbur
Question 72

To ensure that an institution’s anti-money laundering program is current, which step should be taken?

Options:

A.

The program should be evaluated and updated at least every six months be the Board of Directors

B.

The program should be reviews by a federal law enforcement officer for gaps in controls

C.

The program should be sent to the institution’s government regulator on a periodic basis

D.

The program should be reassessed at least annually

Discussion
Question 73

At a small community bank, the compliance officer identifies unusual activity on a customer, who with his personal and company accounts, is the bank’s largest depositor. The customer’s companies have significant balances on their outstanding loans. The compliance officer notices that there is a lot of unusual movements of money between the customer’s individual and business accounts. After filing a suspicious transaction report (STR), the compliance officer gets a call from law enforcement indicating that they want the bank to keep the account open while they conduct an investigation into the customer.

How should the compliance officer escalate this information to the board of directors?

Options:

A.

By providing a copy of the STR to the board

B.

By informing the regulator to bring it up with their next meeting with the board

C.

By providing a high level summary of the activity and the interactions with law enforcement

D.

By providing a copy of the letter from law enforcement asking the bank to keep the account open.

Discussion
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Question 74

What can a compliance officer do in the absence of automated software to conduct U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) sanction screens?

Options:

A.

Rely on a credit report from OFAC

B.

Conduct a key-word search on the Internet

C.

Use the consolidated Sanctions List Search screen on the OFAC website

D.

Obtain up-to-date copies of the OFAC’s Specially Designated Nationals list

Discussion
Question 75

When providing reporting of STRs to the board, which of the following should be provided?

Options:

A.

A numerical summary of all the STRs

B.

A numerical summary of all the STRs and a summary of key STRs, including PEPs, key employees

C.

A summary of all key STRs, including PEPs and key employees

D.

All the STRs filed with the national FIU

Discussion
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