CAMS Exam Questions

What are two requirements with respect to supporting documentation that is used to identify potentially suspicious activity, according to Financial Action Task Force? (Choose two.)

What are two reasons physical certificates present a money laundering risk to broker-dealers? (Choose two.)

An automotive parts company in South America sends multiple $500,000 wire transfers per week to ABC Holdings Ltd. in Asia referencing payment for silk flower shipments. Research re...

The branch manager calls the compliance officer and informs her that a law enforcement officer has just left the branch and was asking a lot of. What should the compliance officer...

The bank's internal financial intelligence unit (FIU) has reviewed activity related to a politically exposed person (PEP); the activity in the account contains a large, round numbe...

What is a major economic consequence of money laundering through the use of front companies?

An institution is about to release a new peer to peer (P2P) funds transfer product to provide much needed remittance services to an under-banked population segment in the country....

What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?

As a result of an audit, a policy exception was identified that had been approved by the compliance officer. The auditor determined that the policy exception is a violation of a re...

A foreign politically exposed person (PEP) requests to add a beneficiary to a file insurance policy. How should the request be processed to mitigate risk?

Which requirement is included in the Fourth European Union Directive on money laundering?

A bank maintains a relationship with a customer who owns a small bakery business. Which customer action indicates potential money laundering?

A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at ?0 million, in the outskirts of London as an investment property. The c...

What is a key objective of the Egmont Group?

The compliance officer for a bank is reviewing on-boarding documents for a new business account for a domestic corporation. The officer is unable to verify the identity of the bene...

Law enforcement submitted a request to a bank for information regarding one of its customers. How should the bank respond according to Financial Action Task Force Guidance?

How should a financial institution respond to a verbal request from a law enforcement agency to keep an account open to assist in an investigation?

A bank operates in multiple countries and offers a variety of products and services. The compliance officer recently joined the bank and wants to better understand the inherent lev...

A bank is preparing for its anti-money laundering independent review, which is performed every two years under the direction of the compliance officer. The bank's corporate audit d...

Which method is used to launder money in casinos?

Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the worl...

A bank's anti-money laundering section receives an anonymous tip that a customer might be engaging in possible money laundering. Which two facts should be considered during the cou...

A bank employee reviews wire transactions looking for indications of wire stripping. Which two actions should the employee take to complete appropriate bank procedures? (Choose two...

Who has the ultimate responsibility within a bank for ensuring that the bank has a comprehensive and effective Bank Secrecy Act / anti-money laundering (BSA/AML) program and oversi...

A compliance officer provides an overview of the bank's anti-money laundering program to a group of new tellers during employee orientation. Which training element should be delive...

Which red flag indicates high potential for money laundering in a real estate purchase?

A compliance officer at a small community bank has been asked to review existing customer onboarding policies and procedures to ensure they adequately address anti-money laundering...

A bank compliance officer discovers cash deposit activity inconsistent with the expected and historical cash activity within the personal accounts of the chairman of the board. The...

Under which two circumstances may law enforcement be given access to a financial institution customer's financial records? (Choose two.)

Findings from a regulatory examination report states that the job descriptions of personnel outside of the compliance department do not include references to anti-money laundering...

What must be materially true regarding transactions for United States (U.S.) sanctions laws to have jurisdiction?

How does the Financial Acton Task Force (FATF) communicate its findings regarding jurisdictions with strategic anti-money laundering / Counter Financing of Terrorism deficiencies?

A recent anti-money laundering audit revealed several regulatory reporting violations and lapses with the organization's anti-money laundering policy. As a result, the compliance o...

A corporate services provider in a European Union (EU) country has a prospect from an African country who deals in oil and gas. The prospect intends to develop an oil terminal in h...

The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geographic area in the United States. The customers are immigrant...

A bank receives an anonymous tip from an employee about another employee through its confidential hotline. Which activity warrants further review?

A bank located in New York has identified suspicious transactions at a correspondent bank in China. For one of the international customers, the correspondent bank is not following...

Which two channels can be utilized during a cross-border money laundering investigation to assist in gathering information according to Financial Action Task Force? (Choose two.)

During a law enforcement investigative interview regarding potential money laundering, the suspect starts making assertions and statements that the investigator believes are false....

A bank employee recently opened an account for a new restaurant. Daily cash deposits over a three-month period are close to $9,500. What are two red flags that indicate possible mo...

A customer has held an account at a bank and has lived locally for over 25 years. Historically he has come into the bank monthly to deposit a $1,500 retirement check from the compa...

A financial institution receives a regulatory enforcement action because of deficiencies in its anti- money laundering program. Which action should the board of directors take?

A banker in the credit department wants to assess the risk of all customers, and contacts the compliance officer to request a list of customers with suspicious transaction report f...

Which two aspects of precious metals pose the highest risk of money laundering? (Choose two.)

Which two methods have terrorist groups used to diversify their revenue stream and to fund their operations? (Choose two.)

Which two statements are true regarding the European Union Money Laundering Directives? (Choose two.)

A compliance officer was recently reviewing transactional data for an international charity and found transactions that present a higher risk. Which reason is cause for terminating...

Which action does the Financial Action Task Force (FATF) recommend be taken against jurisdictions that have strategic deficiencies?

A client opens a bank account for a multi-level marketing company. The debits and credits of the account are numerous and very involved. Further, there are a lot of international t...

Which method is used to launder money via wire remittances sent through a bureau de change or money services business?