CAMS Exam Questions

According to the Basel Committee, customer acceptance, customer due diligence, and record- keeping policies and procedures should be changed as necessary to:

Which approach ensures the successful implementation of a transaction monitoring system?

When investigating an AML event, which techniques would be used to investigate suspected mule accounts? (Select Three.)

While conducting a review of a medium-risk customer, an analyst noted that a newly added authorized signatory is a foreign politically exposed person (PEP). Which is the appropriat...

How should a compliance program respond to an AML audit finding?

Law enforcement is confidentially investigating 20 individuals suspected of belonging to a criminal network allegedly involved in laundering tens of millions of euros for cybercrim...

A bank received a subpoena regarding one of its clients. The financial intelligence unit of the bank should review the subpoena and:

According to the USA PATRIOT Act, under which condition would US financial institutions (Fls) maintain correspondent accounts for foreign shell banks?

To understand if the customer operates in line with the firm's risk appetite for a specific industry segment, a financial institution must:

A foreign bank maintains a correspondent account in the US. According to an investigation carried out by US authorities, the specific correspondent account seems to have facilitate...

Before providing suspicious activity report documentation to an authorized requestor, the institution should first:

What should a bank do if it suspects one of its employees may be involved in mortgage loan fraud?

What should a financial institution (FI) do in response to a formal law enforcement request to produce documents?

A customer has borrowed the cash surrender value of their life insurance policies. Which requires a further investigation and filing of the suspicious activity report?

A high volume of incoming wire transfers generates an alert about a client. The funds are immediately debited by cash withdrawals and outgoing wire transfers. Which information sho...

Which factors should lead to a reassessment of the current AML program? (Select Two.)

A student contacts a real estate broker to view a home but cancels last minute due to illness. The student wants to quickly buy the 800,000 USD home, which is overvalued, despite t...

What action does the USA PATRIOT Act allow the US government to take regarding financial institutions (Fls) that are based outside of the US?

Law enforcement is conducting an investigation of a financial institution (FI) and has submitted an overly broad and unduly intrusive request. Which is a Fl's most appropriate resp...

A law enforcement agency submits several requests to a financial institution. Which request is legitimate and requires the bank to respond?

Which action should a financial institution take when it receives a grand-jury subpoena regarding a customer?

Which action does the Financial Action Task Force call on member countries to take in the most serious cases when countries have significant strategic AML deficiencies?

According to Basel Committee guidelines, which level of the organization should determine whether or not to enter business relationships with higher risk customers?

Which should be provided to the board of directors or designated specialized committee when preparing suspicious activity reports (SARs)?

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

Which should a financial institution implement in order to identify and investigate money laundering activity from their clients? (Select Two.)

Which is an indicator that there is an attempt to conceal a company's true beneficial ownership?

A typical red flag regarding potential money laundering in connection with an art purchase occurs when a customer:

Which principle about safeguarding privacy and data should an auditor adhere to when performing an AML investigation?

A country that does not have strong predicate offenses and is lax in prosecuting AML cases could suffer which social/economic consequence?

According to the Financial Action Task Force, financial institutions should exit the relationship with a client in which case?

A precious metals dealer opens a new account with a bank. Which requires a referral to AML investigations for further review?

Which accurately describes the social and economic impacts of money laundering?

The AML investigator is reviewing the transaction monitoring alerts and the customer's historical profile for the past two years. A review of the negative news search from a blog i...

A customer puts high-denomination cash notes into a poker machine at a casino. Without placing any bets, the customer collected winnings in the form of a check from the casino. Whi...

What is a key objective of the Egmont Group?

Which action by a prospective customer during the account opening process requires further investigation?

Which activities conducted by a lawyer could be a red flag for money laundering? (Select Two.)

An existing customer has changed its business scope and jurisdictions it deals with. Which are the steps the bank needs to take to manage sanctions compliance risk for this custome...

Which is the most severe consequence for a financial institution if the regulator finds it is in breach of AML regulatory obligations?

According to the Financial Action Task Force methodology, which situations would require a financial institution (FI) to consider filing a suspicious activity report?

In order for a terrorist organization to move funds from Cyprus to England through trade-based money laundering, which technique would be used?

Which is often an indirect consequence of non-compliance with AML laws?

Which activity associated with new or developing technologies does the Financial Action Task Force recommend financial institutions pay special attention to?

When a financial institution is requested to provide data and information to a law enforcement agency for matters related to financing of terrorism, assistance:

A law enforcement agent is conducting an investigation into a possible money laundering event. During the investigation, the officer will use:

When an existing customer becomes a politically exposed person (PEP), what should the KYC analyst do during the review/refresh period?

Which is most relevant when examining transactions suspected of being associated with money laundering via real estate?

AML training programs should extend beyond basic concepts to deliver targeted training by:

The Financial Action Task Force recommends the incorporation of some measures in customer due diligence programs including: