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ACAMS Updated CAMS Exam Questions and Answers by abu

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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: abu
Question 172

The vice president of the foreign correspondent banking department at a large United States bank has been notified that a foreign bank with an offshore license wants to open a correspondent account.

Which two things must the vice president acquire under the USA PATRIOT Act? (Choose two.)

Options:

A.

A list of all the customers of the correspondent bank

B.

A list of the types of businesses served by the correspondent bank

C.

Information relating to the foreign bank’s anti-money laundering program

D.

The identity of 10% owners of the correspondent bank, unless it is publicly traded

Discussion
Question 173

What is the intentional evasion of a reporting or recordkeeping requirement?

Options:

A.

Money laundering

B.

Layering

C.

Placement

D.

Structuring

Discussion
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Question 174

What types of things should an institution incorporate in it AML policies and procedures? Choose 3 answers

Options:

A.

On-going training, as well as initial training of new employees

B.

Periodic audits, to be performed by independent staff at least once a year

C.

Ability to incorporate relevant legislative and regulatory AML changes

D.

Review of the AML policy by the Board of Directors

Discussion
Question 175

A compliance officer at an insurance company has been reviewing the transaction activity of several clients.

Which transaction is considered a red flag for potential money laundering?

Options:

A.

A client paid the quarterly life insurance premium using money orders from two different banks.

B.

A client from a high-risk jurisdiction recently purchased property insurance for a real-estate development.

C.

A corporation owns several affiliates and recently opened separate group life insurance policies for each of

the affiliates.

D.

A client established a $100,000 charitable annuity with a non-profit organization that provides health and

safety assistance internationally.

Discussion
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