CAMS TEST VCE PRACTICE & CAMS EXAM TRAINING FILES & CAMS UPDATED PREP EXAM

CAMS test vce practice & CAMS exam training files & CAMS updated prep exam

CAMS test vce practice & CAMS exam training files & CAMS updated prep exam

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The CAMS certification exam is an essential qualification for professionals working in the AML and financial crime prevention field. It demonstrates a deep understanding of AML regulations and best practices and enhances credibility and career prospects. ACAMS provides a range of resources to help professionals prepare for the exam and maintain certification, making it a valuable investment for anyone in the industry.

The CAMS certification exam is designed for professionals in the anti-money laundering field, including compliance officers, risk managers, investigators, and auditors. CAMS Exam covers a wide range of topics, including money laundering techniques, anti-money laundering laws and regulations, compliance programs, risk assessment, and due diligence. CAMS exam is conducted online and consists of 120 multiple-choice questions that must be completed within four hours. The passing score for the exam is 75%.

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If moving up in the fast-paced technological world is your objective, ACAMS is here to help. The excellent Certified Anti-Money Laundering Specialists (CAMS) practice exam from ACAMS can help you realize your goal of passing the ACAMS Treasury with Certified Anti-Money Laundering Specialists (CAMS) certification exam on your very first attempt. Most people find it difficult to find excellent ACAMS Treasury with Certified Anti-Money Laundering Specialists (CAMS) exam dumps that can help them prepare for the actual Certified Anti-Money Laundering Specialists (CAMS) exam.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q659-Q664):

NEW QUESTION # 659
A bank located in Arizona is considering a loan application for a new client. The collateral for the loan is a property in Florida.
The loan will be in the name of a limited liability company (LLC) whose ownership is not disclosed to the bank.
The LLC was established by a New York-based attorney.
The loan will be repaid by the LLC in monthly wire transfers of $9,000 which is more than the required monthly payment.
Which aspect indicates the potential for money laundering?

  • A. The repayment in the amount of $9,000 indicates potential structuring
  • B. The collateral, a property in Florida, is not located in Arizona
  • C. The attorney associated with the account is outside the bank's lending area
  • D. The LLC's ownership is not disclosed to the bank

Answer: A,D


NEW QUESTION # 660
Which three procedures should a compliance officer looking to revise an institution's CTF efforts include in accordance with the Wolfsburg Group's Statement on the Suppression of the Financing of Terrorism?

  • A. Maintaining customer information to facilitate timely retrieval of such information
  • B. Consulting applicable lists and taking appropriate actions to determine if customers appear on such lists
  • C. Reporting matches from lists of known or suspected terrorists to relevant authorities
  • D. Reviewing only original identification documents when verifying customers

Answer: A,B,C


NEW QUESTION # 661
A bank teller receives a written request from a police officer to review a previous customer's account on a pre-populated form with the officer's official letterhead. The officer suspects the previous customer is engaging in smurfing. Which action should the bank teller perform?

  • A. Escalate the police officer's request for the customer's account information to the compliance officer.
  • B. Reject the police officer's request for the customer's account information and escalate to the compliance officer.
  • C. Provide the police officer the customer's account information.
  • D. Provide the police officer the customer's account information after management approval.

Answer: A

Explanation:
The compliance officer should evaluate the request, determine whether it is valid, and provide the necessary information, subject to management approval. It is important to follow the bank's policies and procedures for responding to law enforcement requests, including verifying the authenticity of the request and the identity of the officer making the request. Additionally, it is important to protect customer privacy and ensure that sensitive information is not released to unauthorized individuals. (Reference: Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 6)


NEW QUESTION # 662
When should new business products to evaluate for AML concerns?

  • A. On an annual basis
  • B. Before they are launched into the market
  • C. At the time of the next enterprise risk assessment
  • D. After they have been implemented so there is empirical data to review

Answer: B


NEW QUESTION # 663
Under the USA PATRIOT Act, in which scenario would the US not have jurisdiction?

  • A. Shell banks operating in foreign jurisdictions
  • B. Foreign branch of a bank located in the US
  • C. Foreign bank with a US correspondent account
  • D. US bank subsidiaries located in foreign jurisdictions

Answer: A

Explanation:
shell banks are banks that have no physical presence in any country and are not affiliated with any regulated financial institution. They are often used by money launderers and terrorist financiers to hide their illicit activities and evade regulatory oversight. The USA PATRIOT Act prohibits US financial institutions from opening or maintaining correspondent accounts with shell banks, and requires them to take reasonable steps to ensure that their foreign correspondent banks do not provide services to shell banks12. Therefore, the US does not have jurisdiction over shell banks operating in foreign jurisdictions, unless they are involved in transactions that violate US laws or sanctions.
References:
* USA PATRIOT Act Section 313: Prohibition on U.S. Correspondent Accounts with Foreign Shell Banks1
* Fact Sheet Regarding the Treasury Department's Use of Sanctions Authorities to Combat Money Laundering and Terrorist Financing3 Reference: https://www.congress.gov/107/plaws/publ56/PLAW-107publ56.htm


NEW QUESTION # 664
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