CAMS Exam Questions

A long-term client of an insurance company makes changes to a policy that require payment of an additional lump sum. The amount payable is high, though within the client's means ba...

Which is an objective of the Financial Action Task Force (FATF)-Style Regional Bodies (FSRBs)?

Cybersecurity risk can result in identity theft by:

A professional dealer in precious metals and stones in an EU country plans to implement measures to reduce the risk of being misused for money laundering purposes. Which measures a...

Three individuals enter a casino and use cash to purchase chips worth 20,000 USD. The trio uses 200 USD in chips to play games and then combine their funds to request a casino cheq...

A prospective client walks into an accounting firm wanting to incorporate a company. The accountant feels uncomfortable after the meeting. Which two of the accountant's observation...

Under the Egmont Group Principles, information exchange among financial intelligence units (FlUs) should be conducted:

The Wolfsberg Group has issued a number of documents since its inception aiming to:

In accordance with Financial Action Task Force (FATF) standards, when the minimum AML requirements of the host country where a financial institution (Fl) operates are less strict t...

Private investment companies are potentially vulnerable to money laundering because:

According to recommendations from the Financial Action Task Force, what role does a country's financial intelligence unit play in safeguarding against money laundering?

Which are characteristics of Mutual Legal Assistance Treaties (MLATs)? (Select Three.)

The compliance department receives an internal referral that appears to indicate terrorist financing. What is the first step that should be taken in the investigation process?

A bank receives a request for a subpoena (or a client who has been the subject of monitoring for several months. The bank wishes to close the account in order to mitigate any addit...

When may Office of Foreign Assets Control (OFAC) sanctioned-related transactions be allowed that would otherwise be prohibited?

Which are red flags indicating potential engagement of a bank employee in money laundering? (Select Two.)

Which factors specific to the securities industry increase the exposure to money laundering risk? (Select Two.)

Client A is flagged for a high volume of outgoing transfers. Further investigation reveals Client A has a potentially key role in a network linked to human trafficking. After filin...

An AML specialist at a financial institution is presented with a search warrant. Which actions should be taken to comply with the search? (Select Two.)

How does the Egmont Group assist financial intelligence unit members to accomplish their goals? (Select Three.)

According to the Financial Crimes Enforcement Network, after an initial suspicious activity report has been filed for a customer, a financial institution must perform a continuing...

What is a primary responsibility of a financial intelligence unit?

Which is a goal of Financial Action Task Force Regional-Style Bodies?

Which is a valid extraterritorial effect of the USA PATRIOT Act?

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 s...

Which situation would require enhanced due diligence be performed on a customer?

Under the Wolfsberg Correspondent Banking Principles, which action is considered an enhanced due diligence obligation to correspondent banking clients that present greater risks?

A company service provider in Country A sets up a corporate structure for a client from Country B, which is known for corruption. The corporate structure includes a holding company...

The recommended way lot a financial institution to respond to a request from a law enforcement agency is to:

Which constitute red flags in connection with a company involved in illegal logging? (Select Three.)

The owner of a real estate investment company deposits multiple cashier's checks that were bought using cash over a three-month period, from the sale of two apartments. This accoun...

Money laundering can cause which consequences for a financial institution? (Select Two.)

According to the Financial Action Task Force, financial institutions should be required to implement:

Which statements relate to the mandate, roles, and responsibilities of the Financial Action Task Force (FATF) and the FATF-Style Regional Bodies (FSRBs)? (Select Two).

Which product type is subject to US extra jurisdictional reach over non-US banks and non-US persons under the USA PATRIOT Act?

A law enforcement agency is conducting an investigation of a financial institution (Fl). How should the Fl respond to the law enforcement agency's requests?

A compliance officer is reviewing transactions related to a company suspected of being involved in wildlife trafficking. Which of activities below are common in wildlife traffickin...

A foreign bank's compliance officer receives a request for information from a US bank, alerting the foreign bank to the possibility that it may have transferred funds on behalf of...

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

Which type of formal agreement occurs between countries that wish to aid each other in the investigation and enforcement of criminal laws?

Which regulation regarding data privacy has to be considered while carrying out a financial crime investigation?

Which red flags should be considered prior to establishing a relationship with a third party? (Select Two.)

Which elements can trigger a review of the existing relationship during the opening of a new account? (Select Two.)

The AML compliance officer of a financial institution (Fl) has been advised that the institution is being investigated by the country's financial intelligence unit (FIU). What shou...

A large financial institution (Fl) is considering expanding business to an area of the world with weak AML laws. The risk-based assessment indicates that the location will increase...

Release of the EU's Fourth AML Directive resulted in what change to member state*s procedures? (Select Two.)

Which transaction should result in a suspicious activity report filing?

Which statement is true regarding the Financial Action Task Force standards for suspicious activity reports (SARs) information sharing within a financial group?

Which are the requirements of the Filth AML Directive of the EU? {Select Two.)

Which principles of the Egmont Group of Financial Intelligence Units (Fills) are aimed at maximizing cooperation between FlUs to more effectively combat money laundering? (Select T...