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ACAMS Updated CAMS Exam Questions and Answers by maja

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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: maja
Question 136

According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions?

1. Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500.

2. Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral.

3. A ptfiisiui i Ll idL pr uviJcfb lelir emei it bei lefils Lu employees.

4. Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.

Options:

A.

1, 2, and 3 only

B.

1, 2, and 4 only

C.

1, 3, and 4 only

D.

2, 3, and 4 only

Discussion
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Question 137

Which aspect of the USA PATRIOT Act impacts foreign financial institutions?

Options:

A.

Requiring enhanced due diligence for foreign shell banks

B.

Expanding sanctions requirements to a U.S. financial institution’s foreign branches

C.

Expanding the anti-money laundering program requirements to all foreign financial institutions

D.

Providing authority to impose special measures on institutions that are of primary money-laundering

concern

Discussion
Question 138

In reviewing recent activity, a compliance officer for a money transmitter that several customers are each

remitting the same amount of money but much more frequently.

How should the institution respond?

Options:

A.

File a suspicious transaction report

B.

Instruct the tellers not to process remittances for these customers in the future

C.

Conduct further investigation to determine whether this is truly suspicious activity

D.

Immediately contact the customers and ask them why they are remitting money more often

Discussion
Question 139

Which function provided by lawyers can be useful to a potential money launderer as documented by FATF in its typology report 2000-2001? Choose 3 answers

Options:

A.

Creating complex legal arrangements

B.

Buying and selling property

C.

Performing financial transactions on behalf of a client

D.

Providing legal advice

Discussion
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