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ACAMS Updated CAMS Exam Questions and Answers by koby

Page: 32 / 48

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: koby
Question 128

FATF recommends the incorporation of some measures in customer due diligence (CDD) programs including:

Options:

A.

conducting the risk assessment of products and services.

B.

conducting ongoing due diligence on the business relationship and monitoring of transactions.

C.

identifying the products and services and their suitability to customers.

D.

identifying the number of beneficial owners without the verification of their true identity.

Discussion
Question 129

What are four key elements that a KYC program should contain according to the Basel Committee requirements?

Options:

A.

Customer onboarding, sanction monitoring, customer acceptance, customer due diligence

B.

Customer identification, risk assessment, customer screening, monitoring

C.

Customer onboarding, risk monitoring, customer acceptance, enhanced due diligence

D.

Customer identification, risk management, customer acceptance, monitoring

Discussion
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Question 130

When an institution files an STR with regard to a particular account, what steps should the institution take visa account?

Options:

A.

The institution should close the account due to the obvious risk it represents

B.

The institution should keep the account open due to the need to continue to monitor the account

C.

The institution should consult its counsel and AML compliance officer and determine whether closing the account is in accord with the institution’s procedures

D.

The institution should not close the account due to the risk of tipping off the customer and upsetting the criminal investigation

Discussion
Question 131

Historically, which vehicle is most often used to hide beneficial ownership?

Options:

A.

Professional association

B.

An offshore company

C.

A limited liability partnership

D.

A charitable organization

Discussion
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