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ACAMS Updated CAMS Exam Questions and Answers by rami

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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: rami
Question 16

How can violations of anti-money laundering laws be a risk to individuals?

Options:

A.

Violations can result in civil and criminal fines and penalties against the individuals.

B.

Violations can result in additional legislation that the individuals have to comply with.

C.

Violations can result in enforcement actions that damage the reputation of the individual’s employer.

D.

Violations can result in additional and more stringent anti-money laundering training for individuals.

Discussion
Question 17

Which step should be taken to understand the types of financial institutions to whom the services are being offered when a correspondent bank permits “nested” relationships according to the Wolfsberg Group?

Options:

A.

Review peer-group clients by risk category

B.

Understand the type and volume of accounts serviced

C.

Evaluate the distribution of downstream correspondents and identify any direct or indirect issues

D.

Obtain independent audits or examination reports for “nested” relationships to determine risk levels

Discussion
Question 18

A client who owns a swimming pool company requests to open 19 accounts at a bank, each with a debit card for its swimming pool technicians. When asked about the purpose of each account, the client explains that each technician needs a separate checking account to purchase pool chemicals.

Which available source could be used in the bank’s internal investigation on this client’s activities?

Options:

A.

Client’s credit bureau report

B.

Local law enforcement investigation report

C.

Interview swimming pool technicians and chemical suppliers

D.

Internet search showing how such business are typically operated

Discussion
Question 19

A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the customer base.

Which two courses of action should the compliance officer include in the institution’s procedures for considering PEPs as customers? (Choose two.)

Options:

A.

Conduct enhanced ongoing monitoring of the business relationship

B.

Expedite due diligence when a PEP is pre-approved by a member of senior management

C.

Obtain appropriate senior management approval for establishing a business relationship with a PEP from a high risk country

D.

Take adequate measures to establish the source of wealth and source of funds which are involved in the business relationship or occasional transaction

Discussion
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