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ACAMS Updated CAMS Exam Questions and Answers by poppie

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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: poppie
Question 84

An anti-money laundering specialist working at a bank just received a legal request from a law enforcement agency mandating the release of all financial transaction records relating to an account at the bank. The specialist immediately recognizes the account as one owned by the bank Chief Executive Officers brother. During research to gather the requested documents, the specialist finds several internal memos he had sent to the bank president with concerns regarding possible suspicious activity relating to this account. The specialist recalls the bank president verbally responded to each memo with an explanation of the activity and indicated there was no cause for concern. What should the specialist do with respect to these internal memos?

Options:

A.

Place these memos in his personal files in case they are subsequently requested

B.

Ask the bank president to document his instructions to the specialist

C.

Call the law enforcement agent and suggest he modify the legal request to include these memos

D.

Advise the bank’s senior legal advisor of the situation

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Question 85

After review of the financial institution's enterprise-wide anti-money laundering risk assessment, the new compliance officer identifies several deficiencies that need attention.

Which deficiency could lead to the highest potential for unmitigated risk?

Options:

A.

The risk assessment is several years old and does not cover all current products and services.

B.

The risk assessment is revisited too frequently thereby diverting critical resources from other compliance tasks.

C.

The risk assessment is managed by a different team from the previous assessment therefore disrupting continuity of institutional knowledge.

D.

The risk assessment does not anticipate potential risks even though the financial institution has no immediate plans involving those risks.

Discussion
Question 86

An organization uses an automated surveillance system that generates a very large volume of anti-money laundering alerts. The monthly volume of alerts has increased over the last year causing the compliance staff to fall significantly behind reviewing the alerts. As a result, the system settings are under review to determine if they are appropriate.

Which action should be included in the evaluation of system settings?

Options:

A.

Compare settings to organizations within its peer group

B.

Flag filters with no history of generating an alert for removal

C.

Review parameter settings based on the latest risk assessment

D.

Calibrate parameters based on staffing capabilities to clear alerts

Discussion
Question 87

Why is the Mutual Legal Assistance Treaty (MLAT) a gateway for international cooperation?

Options:

A.

They provide a legal basis for transmitting evidence that can be used for prosecution and judicial proceedings

B.

They receive reports of suspicious transactions from financial institutions to disseminate to local Law enforcement and foreign FIUs

C.

They obtain intelligence that might lead to evidence

D.

They issue the Prmc4es of Information Exchange Between Financial intelligence Units (FIUs)

Discussion
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