CAMS Exam Questions

An AML analyst at a financial institution is examining an alert generated by the automated transaction monitoring system to determine whether the alert should be escalated to the A...

Which scenario indicates potential money laundering activity by a lawyer?

Which of the below statements are supported by the Financial Action Task Force (FATF) 40 Recommendations adopted in 2012? (Select Two.)

Which key metric would provide the most valuable data to senior management about the effectiveness of its AML controls?

Which red flag is most relevant to money laundering through capital markets?

Privacy and data protection restrictions placed upon financial institutions (FIs) in the EU require that FIs must: (Select Two.)

Which of the following corporate structures present a higher money laundering risk due to reduced transparency? (Select Three.)

An AML compliance officer receives an independent audit report with a number of findings. An appropriate response to the report would include:

A bank is preparing for a regulatory exam after a previous regulatory exam identified weaknesses in its AML program. Since the last exam, the bank has: - Improved its written AML p...

What are the roles of a government Financial Intelligence Unit (FIU)? (Select Three.)

An AML compliance officer is drafting plans to address deficiencies identified in an independent audit. Which approach is the best option?

An employee in a corporation's finance department hears news of an internal investigation into potential fraud within the company, quits their job, and disappears. If they had been...

Which statement is the most accurate in describing who must comply with Office of Foreign Assets Control (OFAC) sanctions?

A newly appointed senior money laundering reporting officer (MLRO) at a digital bank has been instructed to implement an effective AML transaction monitoring system. What are impor...

A legal instrument executed between two nations that governs cross-border information sharing is known as a:

Section 319(a) of the USA PATRIOT Act:

A team overseeing the governance and effectiveness of a bank's transaction monitoring approach should implement which strategies? (Select Two.)

A recruitment manager in the human resources department of a bank has shortlisted a candidate for the position of relationship manager in its private banking division. The bank's c...

How can awareness be raised within countries that do not have sanctions regulatory regimes? (Select Two.)

The financial industry relies heavily on rules-based approaches to transaction monitoring to detect suspicious activities. Scenario-based systems use technology and algorithms to i...

A financial institution plans to implement adverse media screening with Artificial Intelligence (AI)/Machine Learning (ML) capabilities During testing, the system produces high vol...

When services are provided by a trust and company service provider (TCSP) connected to a high-risk country, which of the following may present an immediate financial crime risk con...

Which benefits are most commonly associated with transitioning from a rules-based approach to artificial intelligence (AI) and machine learning-based tools in transaction monitorin...

Why is it important to use multiple sanctions lists, such as United Nations (UN), Office of Foreign Assets Control ("OFAC"), and European Union ("EU") lists, in name screening syst...

The chief compliance officer (CCO) at a bank approved offering trade finance services to a company which is established within a country with a weak democratic system routinely rev...

Which services provided by an accounting firm could be considered as higher risk from a financial crime perspective? (Choose three.)

Common risks associated with cryptocurrency and convertible virtual currencies include: (Choose three.)

An organization is developing a comprehensive anti-money laundering (AML) framework. Which of the following statements best describes the relationship between AML policies and proc...

A multinational corporation is considering expanding into a new market with a history of political instability and corruption. Which strategy would be most effective in mitigating...

Which line of defense would be tasked with interpreting new AML regulations and revising training for client-facing relationship managers?

Which of the following statements describe the strengths associated with public-private partnerships (PPPs)? (Choose two.)

Which of the following AML/CFT arrangements should a bank have in place at minimum before opening for business? (Choose three.)

When selecting an anti-financial crime (AFC) tool for an organization, the most important factor to consider is whether the tool:

A sound AML compliance program requires a comprehensive governance framework that addresses key elements to ensure the integrity of the financial system. Which element forms the st...

Which statement best describes a key money laundering risk associated with virtual asset service providers (VASPs), cryptoassets, and related products?

Which role within private banking has the best placement to identify and report money laundering risk?

When deciding on the fuzzy matching threshold for sanctions screening, consideration should be given to:

Which of the following is a primary objective of public sector groups in the fight against money laundering?

Which external data source is most reliable for verifying beneficial ownership during onboarding?

The primary objectives of the United Nations in developing sanctions regimes include: (Choose three.)

A client advisor at a bank contacts a member of the compliance team for guidance on how to proceed with a client who wants to transfer US$250,000 from the sale of cryptoassets into...

At a high level, the risk assessment process involves identifying and rating the inherent risks associated with customers, products, countries, and delivery channels, and then:

Which of the following is a broader risk specific to casinos and gambling?

Which of the following processes or tools contribute to AML compliance despite being seemingly unrelated? (Choose two.)

Which techniques are most commonly used in a rules-based approach to transaction monitoring for detecting suspicious activities? (Choose two.)

Which of the following presents the highest money laundering risk from a money services business (MSB)?

When considering purchasing AFC tools from a vendor to implement into the customer lifecycle, which of the following measures should be taken during the process? (Choose two.)

Beyond the physical and mental harm caused to individuals, which of the following problems can be linked to significant costs from unregulated online gambling and gaming?

During a routine periodic KYC refresh of a policyholder and client of an insurance company, updated business registry documentation has highlighted that the policyholder's business...

There are three types of factors that can be used to authenticate someone ownership, knowledge, and inherent factors. Which of the following factors falls under inherent factors?