Acams exactexam cams Questions Bank by Neave q244 vce pdf

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Exam Name:	Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Exam Code:	CAMS Dumps
Vendor:	ACAMS	Certification:	AML Certifications
Questions:	229 Q&A's	Shared By:	neave

Question 40

The UN Security Council's primary role in imposing sanctions is that it has the authority to:

Options:

impose sanctions lo maintain of restore international peace and security

impose sanctions on countries that lack AML/CFT controls.

conduct research on and analyze the impacts of sanctions to improve the effectiveness of sanctions regimes.

impose sanctions on economic targets to maintain or restore financial stability within a country.

Discussion

Question 41

Which collective body of Financial Intelligence Units (FlUs) was formed with an objective to improve Information exchange and sharing mechanisms among member FlUs as well as to support its members by enhancing their capabilities'?

Options:

The Organisation for Economic Co-operation and Development (OECD)

The Egmont Group

The Wolfsberg Group

The International Monetary Fund (IMF)

Discussion

Question 42

What is the primary purpose of a risk appetite statement (RAS) in an organization and how should it be effectively communicated and implemented?

Options:

An RAS defines the amount and type of risk an organization is willing to take to achieve its objectives and should be communicated clearly to all stakeholders with corresponding controls implemented

An RAS is a detailed plan for managing operational risks and does not cover strategic or financial risks

An RAS is a formal document meant for regulatory compliance that does not influence day-to-day risk management practices within the organization

An RAS is used to outline the risk tolerance limits to external stakeholders and does not need to be communicated within the organization

Discussion

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Question 43

Financial crime risk related to the use of "hawalas" can stem from: (Choose two.)

Options:

remote verification of identity by third-party program managers

heavy usage by senior political figures.

heightened risks of returned transactions.

informal networks used for cross-border transactions outside of the formal banking system

difficulty in tracking the originator recipient, and source of transactions.