CAMS Certification Real Questions v13.02 to Pass Certified Anti-Money Laundering Specialist

Good news, lots of candidates passed Certified Anti-Money Laundering Specialist CAMS Certification recently, the updated CAMS Certification Real Questions version 13.02 have proved to be valid through successful feedbacks. PassQuestion provides you real CAMS questions and answers to practice and ensure you pass your CAMS certification exam successfully in your first time.

CAMS Certification Real Questions v13.02 to Pass Certified Anti-Money Laundering Specialist

1. A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the customer base.

Which two courses of action should the compliance officer include in the institution’s procedures for considering PEPs as customers? (Choose two.)

 
 
 
 

2. Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

 
 
 
 

3. Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

 
 
 
 

4. A local law enforcement officer, who is conducting a criminal investigation, requests information about a customer.

Which two actions should the bank take? (Choose two.)

 
 
 
 

5. What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)

 
 
 
 

6. In which two ways do Financial Action Task Force-style regional bodies influence anti-money laundering and terrorist financing standards within their respective regions? (Choose two.)

 
 
 
 

7. The board of directors receives notice from the primary regulator of the bank that potentially suspicious activity has been identified and the bank president appears to be involved. The Board asks the compliance officer for advice.

Which action should the compliance officer take when informed?

 
 
 
 

8. Who has the day-to-day responsibility of communicating and reinforcing the established anti-money laundering compliance culture and program?

 
 
 
 

9. The compliance officer for a private bank has been tasked with reviewing the procedure for authorized signatories on customer accounts to ensure it is in line with relevant Wolfsberg Anti-Money Laundering Principles for Private Banking.

Which three statements from the procedure are in line with Wolfsberg? (Choose three.)

 
 
 
 
 

10. What is a method of placement that can be used by a money launderer in a deposit taking institution?

 
 
 
 

11. The local manager of a remote mortgage origination department of a financial institution has just discovered that sanctions screening of new customers is not being performed.

Which action should the local manager take in this situation?

 
 
 
 

12. An anti-money laundering officer is conducting employee reviews.

Which employee action warrants enhanced due diligence?

 
 
 
 

13. Which two methods can be used to structure casino-related transactions? (Choose two.)

 
 
 
 

14. A New York-based lawyer is interested in purchasing a luxury condo in Manhattan listed at $30 million for a client based in the Caribbean.

The client does not want to be named on the deed and wants the purchase to be made under the name of a limited liability company (LLC). The client states that the reason for this arrangement is that he is a high level government official who is concerned about his privacy if the purchase were to be made in his name.

The funds for the purchase are to be wired from several accounts in various countries.

Which two facts lead to gathering more information about this potential client before moving forward with the transaction? (Choose two.)

 
 
 
 

15. A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account owned by Foreign Bank A, a number of transactions appear to have been originated by Foreign Bank B outside the expected activity for this account. These transactions appear suspicious and a suspicious transaction report was filed by the compliance officer.

Which step should the compliance officer take?

 
 
 
 

16. What can a compliance officer do in the absence of automated software to conduct U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) sanction screens?

 
 
 
 

17. Which two actions should Financial Intelligence Units (FIUs) take when submitting a request to another FIU? (Choose two.)

 
 
 
 

18. What is a tool governments and multi-national bodies can use to prevent the proliferation of weapons of mass destruction?

 
 
 
 

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

 
 
 
 
 

20. A startup virtual currency exchange has registered as a money services business and will commence operations in six months. The company will provide digital wallets to customers to hold their virtual currency after purchase. Customers will have the option to conduct purchases of the virtual currency and transfer the currency to and from the digital wallet. The startup must develop an anti-money laundering compliance program prior to launch.

Which two anti-money laundering responsibilities should be considered before business launch? (Choose two.)

 
 
 
 

CAMS Free Questions - Certified Anti-Money Laundering Specialist V9.02

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