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ACAMS Updated CAMS Exam Questions and Answers by renzo

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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: renzo
Question 52

What does the Basel Committee’s Customer Due Diligence for Banks paper suggest that a bank needs to have in place when establishing an account for a corporate business entity?

Options:

A.

An understanding of the structure of the company

B.

A policy requiring all identified beneficial owners to undergo a national police check

C.

A process to ensure that the approval of senior management is obtained prior to opening the account

D.

A fee structure that reflects the banks’ costs in monitoring the risks associated with entity’s business activities

Discussion
Question 53

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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Question 54

A comprehensive set of risk-based guidelines for maintaining business relationships is being developed.

Which situation indicates that the institution should terminate the relationship with a client?

Options:

A.

The client does business in countries with active terrorist organizations.

B.

The client conducts international financial transactions exceeding U.S. $500 million.

C.

The client exceeds the criteria of an acceptable risk model created by another institution that is not similar in size and complexity.

D.

The client exceeds the criteria of an acceptable risk model created by the institution and does not perform acceptable remedial actions.

Discussion
Question 55

A commission rogatory would be used in which gateway to obtain information from another country?

Options:

A.

An FIU request under the Egmont principles

B.

An MLAT request

C.

A supervisory channel request with the Basel Committee

D.

A FATF request

Discussion
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