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ACAMS Updated CAMS Exam Questions and Answers by wynter

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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: wynter
Question 32

How can a ‘free-look provision’ as part of a life insurance policy help criminals to launder money?

Options:

A.

A policy owner can decide how to pay the premium within a pre-defined period.

B.

A policy owner is able to terminate the contract without penalties such as surrender charges.

C.

A policy owner has freedom to decide who the beneficiary of the policy will be and can in this way move money to a related third party.

D.

A policy owner has freedom to decide who the beneficiary of the policy will be and can in this way move money to an unrelated third party.

Discussion
Question 33

A profitable commercial customer who operates an import-export business has multiple accounts with the same institution at branches m different locations. The customer receives funds from a jurisdiction perceived as highly corrupt according to Transparency International ratings. The customer makes frequent transfers among the accounts and prefers to manage the accounts separately. What should the institution do to mitigate the risk associated with these accounts?

Options:

A.

File a suspicious transaction report

B.

Diminish the importance of the subjective Transparency International rating

C.

Conduct a trade-price manipulation analysis

D.

Develop a system to monitor all the activity

Discussion
Question 34

A compliance officer is tasked with implementing an enterprise-wide anti-money laundering program for a bank, which operates in multiple countries. Not all the bank products and services are available in all countries.

Which three factors should be considered as part of the approach? (Choose three.)

Options:

A.

The types of customers serviced by the bank

B.

The customer onboarding platform that will be used

C.

The extent of anti-money laundering regulations in the various countries

D.

The anti-money laundering risk posed by the products and services offered by the bank

E.

The amount of resources needed to implement the anti-money laundering program in the countries

Discussion
Question 35

Which three measures are contained in Financial Action Task Force 40 Recommendations for reporting suspicious activity? (Choose three.)

Options:

A.

The activity should be reported promptly to the country’s financial intelligence unit.

B.

The financial institution has been contracted by law enforcement regarding the activity.

C.

The financial institution has grounds to believe the activity is related to terrorist financing.

D.

The financial institution has contacted the account holder to determine the activity of the account.

E.

The financial institution has reasonable grounds to suspect the funds are proceeds of criminal activity.

Discussion
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