CAMS Exam Questions
993 real CAMS exam questions with expert-verified answers and explanations. Page 1 of 20.
- Question #1
An employee hears a colleague on the telephone with a customer giving advice on how to ensure that a suspicious transaction report will not be filed as a result of a future transac...
- Question #2
The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information from non-U.S. banks that hold a correspondent account. Which two pieces of i...
- Question #3
What are two legal risks of having inadequate privacy policies and procedures? (Choose two.)
- Question #4
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 corr...
- Question #5
What is an example of the integration stage of money laundering involving a bank or another deposit-taking institution?
- Question #6
Which aspect of the USA PATRIOT Act impacts foreign financial institutions?
- Question #7
The compliance officer at a crowd funding website is in charge of monitoring new crowd funding projects. Recently, the number of crowd funding projects has significantly increased....
- Question #8
Which two statements in the Wolfsberg Group's "Suppression of the Financing of Terrorism" define the role financial institutions should play in the fight against terrorism? (Choose...
- Question #9
What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee's paper on Customer Due Diligence for Banks?
- Question #10
What are two sources for maintaining up-to-date sanctions information? (Choose two.)
- Question #11
A bank has maintained an account for a European charity for several years. The charity provides clothing to persons in need in various countries with active terrorists' cells. Whic...
- Question #12
A politically exposed person (PEP) maintains an account at a bank. Last month a money laundering analyst filed a suspicious transaction report about unusual wire deposits originate...
- Question #13
Which two individuals are ordinarily beneficial owners of a private banking account according to the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)
- Question #14
What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)
- Question #15
When should the anti-money laundering risk assessment be updated?
- Question #16
A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unre...
- Question #17
A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syn...
- Question #18
Which two factors assist a money laundering investigation that involves multiple countries? (Choose two.)
- Question #19
A popular restaurant in town has begun depositing less cash than it has in prior years. In a review of the customer's accounts, you notice that credit card receipts have increased...
- Question #20
An organization's automated surveillance system identifies large fluctuations in customer activity. As a result of an audit, the compliance officer is informed that the system is n...
- Question #21
Upon a routine account review a money laundering investigator identified a number of large round dollar wire transfer deposits into a business account owned by a local auto repair...
- Question #22
A compliance officer learns from an Information Technology (IT) source of a potential new financial service being discussed by the new product approval committee. What is the corre...
- Question #23
What is the goal of the Egmont Group in providing a forum for Financial Intelligence Units (FIUs) around the world?
- Question #24
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 launderi...
- Question #25
The branch manager notices that a number of customers come in weekly and always use the same teller to process their deposits. The manager notices that the customers and the teller...
- Question #26
A law enforcement official calls a bank inquiring about a customer who is currently under investigation. The law enforcement official requests information about the customer. How s...
- Question #27
A bank compliance officer has implemented enhanced monitoring rules that have identified some unusual activity that may be indicative of human trafficking. Which red flag should pr...
- Question #28
The compliance officer for a private bank has been tasked with writing a policy on how the bank will deal with intermediaries. Which two aspects should be included in the policy in...
- Question #29
A non-U.S. bank wants to open an account at Bank A, which is a U.S.-based bank. Which information must Bank A obtain under the USA PATRIOT Act?
- Question #30
Which insurance product is particularly vulnerable to money laundering?
- Question #31
What is an essential element of Know Your Customer (KYC) standards according to the Basel Committee's Customer Due Diligence for Banks paper?
- Question #32
A foreign bank operating under an offshore license wants to open a correspondent account with a United States (U.S.) bank. The foreign bank plans to provide payable through account...
- Question #33
An institution has made the decision to exit a client relationship due to anti-money laundering concerns. Prior to starting the close out process, the institution receives a writte...
- Question #34
An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into...
- Question #35
A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk ju...
- Question #36
A retail bank has just acquired a credit card business. The bank's anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refres...
- Question #37
Which method do terrorist financiers use to move funds without leaving an audit trail?
- Question #38
Why do governments and multi-national bodies impose economic sanctions?
- Question #39
In reviewing recent activity, a compliance officer for a money transmitter that several customers are each remitting the same amount of money but much more frequently. How should t...
- Question #40
In the summer, an institution identifies anti-money laundering concerns regarding a customer's account activity. The customer, an ice cream, has deposited a lot of checks drawn on...
- Question #41
Which three methods are commonly used by an accountant to launder money? (Choose three.)
- Question #42
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 compan...
- Question #43
What is a key risk associated with Correspondent Accounts according to the Basel Customer Due Diligence paper?
- Question #44
A law enforcement agency is reviewing a suspicious transaction report (STR) filed by a financial institution for suspicious activity on a client's account. Subsequently, the agency...
- Question #45
A new compliance officer is reviewing the bank's anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired...
- Question #46
The Wolfsberg Anti-Money Laundering Principles for Private Banking require new clients to be approved by whom?
- Question #47
Which two factors should increase the risk of a correspondent bank customer and require additional due diligence according to the Wolfsberg Anti-Money Laundering Principles for Cor...
- Question #48
In which two ways does a government Financial Intelligence Unit interact with public and private sectors? (Choose two.)
- Question #49
What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?
- Question #50
What are the regulatory risks to a bank employee who willfully violates anti-money laundering laws?