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ACAMS Updated CAMS Exam Questions and Answers by hoorain

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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: hoorain
Question 164

Which is a characteristic of the Financial Action Task Force (FATF) 40 recommendations?

Options:

A.

They enable FATF's active engagement in law enforcement matters, investigations, or prosecutions.

B.

They are automatically transposed into local law across the EU member states and the US.

C.

They provide a list of mandatory requirements for an effective AML regulatory framework.

D.

They comprise global standards for countering money laundering, recognized by government bodies across the world.

Discussion
Question 165

Which of the following should an anti-money laundering specialist consider the most serious deficiency when detected during a regulatory audit of the anti-money laundering program?

Options:

A.

The compliance officer fails to have on-going meetings with upper management to keep them apprised of current money laundering trends.

B.

The company's anti-money laundering manual has not been updated to reflect a recent internal control enhancement.

C.

The company has failed to download the most recent regulation from the Financial Intelligence Unit web site.

D.

The company has not implemented an anti-money laundering training program.

Discussion
Question 166

Which type of sanctions are most likely to be used in order to avoid escalating violent conflicts and/or proliferation of weapons?

Options:

A.

Financial prohibitions

B.

Export and import restrictions

C.

Arms and related materials embargo

D.

Asset freeze

Discussion
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Question 167

According to the Basel Committee on Banking Supervision standards, which statements best describe sound practices in relation to customer due diligence (CDD) policies and procedures? (Choose three.)

Options:

A.

Banks should identify its customers based on a general-rules based assessment without considering the expected size and use of the account.

B.

Banks should never allow for verification to be completed after the establishment of the business relationship since it would not be essential for the normal conduct of business.

C.

Banks should take into consideration the occasional banking transaction or the size/level of assets to build an understanding of the customer's profile and behavior.

D.

Banks should develop and implement clear acceptance policies and procedures to identify the types of customer that are likely to pose a higher risk of financing terrorism or money laundering.

E.

Banks should implement enhanced due diligence measures for entering business relationships with high-risk customers, such as approval by senior management.

F.

Banks should use CDD procedures based in another bank's standards when subject to the same criteria for handling funds of a shared customer.

Discussion
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