CAMS Exam Questions
993 real CAMS exam questions with expert-verified answers and explanations. Page 2 of 20.
- Question #51
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.)
- Question #52
What are two reasons physical certificates present a money laundering risk to broker-dealers? (Choose two.)
- Question #53
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...
- Question #54
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...
- Question #55
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...
- Question #56
What is a major economic consequence of money laundering through the use of front companies?
- Question #57
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....
- Question #58
What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?
- Question #59
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...
- Question #60
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?
- Question #61
Which requirement is included in the Fourth European Union Directive on money laundering?
- Question #62
A bank maintains a relationship with a customer who owns a small bakery business. Which customer action indicates potential money laundering?
- Question #63
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...
- Question #64
What is a key objective of the Egmont Group?
- Question #65
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...
- Question #66
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?
- Question #67
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?
- Question #68
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...
- Question #69
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...
- Question #70
Which method is used to launder money in casinos?
- Question #71
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...
- Question #72
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...
- Question #73
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...
- Question #74
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...
- Question #75
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...
- Question #76
Which red flag indicates high potential for money laundering in a real estate purchase?
- Question #77
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...
- Question #78
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...
- Question #79
Under which two circumstances may law enforcement be given access to a financial institution customer's financial records? (Choose two.)
- Question #80
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...
- Question #81
What must be materially true regarding transactions for United States (U.S.) sanctions laws to have jurisdiction?
- Question #82
How does the Financial Acton Task Force (FATF) communicate its findings regarding jurisdictions with strategic anti-money laundering / Counter Financing of Terrorism deficiencies?
- Question #83
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...
- Question #84
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...
- Question #85
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...
- Question #86
A bank receives an anonymous tip from an employee about another employee through its confidential hotline. Which activity warrants further review?
- Question #87
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...
- Question #88
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.)
- Question #89
During a law enforcement investigative interview regarding potential money laundering, the suspect starts making assertions and statements that the investigator believes are false....
- Question #90
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...
- Question #91
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...
- Question #92
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?
- Question #93
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...
- Question #94
Which two aspects of precious metals pose the highest risk of money laundering? (Choose two.)
- Question #95
Which two methods have terrorist groups used to diversify their revenue stream and to fund their operations? (Choose two.)
- Question #96
Which two statements are true regarding the European Union Money Laundering Directives? (Choose two.)
- Question #97
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...
- Question #98
Which action does the Financial Action Task Force (FATF) recommend be taken against jurisdictions that have strategic deficiencies?
- Question #99
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...
- Question #100
Which method is used to launder money via wire remittances sent through a bureau de change or money services business?