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ACAMS Updated CAMS Exam Questions and Answers by neave

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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: neave
Question 40

Which step should financial institutions take when complying with sanctions requirements?

Options:

A.

Adopt automatic screening systems to detect designated persons and entities.

B.

Conduct enhanced due diligence for prohibited entities on the sanctions list.

C.

Change the risk profile to "high-risk" if an existing customer becomes a sanctioned entity and continue monitoring further transactions.

D.

Freeze the funds or assets of designated persons and entities once this decision is approved by the Board.

Discussion
Question 41

According to the Financial Action Task Force, as part of their risk assessment, which are important data and information that a Trust and Company Service Provider must understand when establishing and administering a trust? (Select Two.)

Options:

A.

The responsibility and authority in the structure

B.

The management structure of the trust

C.

The source of funds in the structure

D.

The general purpose behind the structure

E.

The general nature of business of the trust

Discussion
Question 42

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
Question 43

Which of the following customer activities poses the highest risk of money laundering?

Options:

A.

Transferring funds to pay for flight training lessons.

B.

Paying a supplier of precious metals at regular quarterly intervals.

C.

Making multiple cash deposits slightly below a required reporting limit.

D.

Conducting business in a country that represents a high risk of money laundering.

Discussion
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