CAMS Exam Questions
993 real CAMS exam questions with expert-verified answers and explanations. Page 4 of 20.
- Question #151
An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the fo...
- Question #152
A European Union (EU) bank has a correspondent banking relationship with a U.S. bank. Under USA PATRIOT Act Section 311, the U.S. government has enacted special measures against a...
- Question #153
Which of the following is the best action to take regarding a particular account once suspicious activity is reported by the institution?
- Question #154
A money remittance business will most likely attract money launderers because it: 1. deals primarily in cash transactions. 2. engages in international transactions. 3. conducts tra...
- Question #155
A suspicious transaction report filed on a car dealer structuring deposits initiates a criminal investigation. The dealer changes branches and begins placing transactions with a fr...
- Question #156
A division anti-money laundering officer for a financial institution has been conducting a monthly self-assessment. The officer reviews the accounts opened for compliance with a lo...
- Question #157
A close relative of a privately-owned bank's senior manager requests to open an account. Because of this relationship, the staff expedites the opening of the account without follow...
- Question #158
According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professions include
- Question #159
An anti-money laundering expert is hired by a new Internet bank to assess the money laundering threat to the bank. Because it is an o line bank the most important recommendation fo...
- Question #160
During an ongoing investigation into a client's activities by a competent authority, a compliance officer should
- Question #161
Which of the following represents the first Financial Action Task Force initiative?
- Question #162
Transfers of money over the last 6 months to a corporation in a jurisdiction with strict secrecy laws triggered an alert. Which of the following should cause the most suspicion of...
- Question #163
The anti-money laundering specialist of a small bank has identified suspicious activity at a branch located in an area of town where drug dealers are known to operate. An investiga...
- Question #164
An anti-money laundering specialist is concerned that several suspicious transaction reports will discuss potential illegal activity of bank employees. In this situation, which of...
- Question #165
A charity has unaudited accounts. Which of the following represents the highest risk factor for terrorist financing?
- Question #166
Following a recent exercise which explained how a correspondent banking operation could be used by money launderers, an anti-money laundering specialist decided to re-write the due...
- Question #167
An anti-money laundering specialist has been hired by an independently-owned community bank to implement an anti-money laundering compliance program. This bank has recently seen a...
- Question #168
An anti-money laundering specialist notes a significant reduction in suspicious transaction report filings at a particular branch. Which of the following actions is most appropriat...
- Question #169
A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan. A law enforcement officer c...
- Question #170
An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier in the year. The customer received...
- Question #171
Which of the following customer transactions with a securities dealer would indicate the highest suspicion of money laundering?
- Question #172
The Board of Directors for a small private bank has asked the management to no longer apply the identity requirements for high net worth individuals to protect their privacy. Which...
- Question #173
Which of the following is the financial stage of money laundering?
- Question #174
Which of the following customers require the most enhanced due diligence?
- Question #175
Which of the following provides anti-money laundering specialists information related to money laundering trends? 1. Egmont Group's 100 Cases 2. Financial Action Task Force Typolog...
- Question #176
Outgoing foreign transactions of similar amounts trigger a monitoring alert for a customer's accounts. During the evaluation of the accounts, the bank discovers the wire transfers...
- Question #177
Under requirements for correspondent accounts in the USA PATRIOT Act, the word "certification" refers to a written representation by a
- Question #178
According to Basel Committee on Banking Supervision's Customer Due Diligence for Banks, which of the following should provide an evaluation of a bank's policies and procedures inde...
- Question #179
An anti-money laundering specialist has been asked to establish a compliance program to detect and prevent money laundering and terrorist financing. Which of the following should t...
- Question #180
According to the European Union Money Laundering Directives, "knowledge, intent or purpose"' required as an element for money laundering may be inferred from
- Question #181
A bank customer operates a fuel station as a sole proprietorship. The customer places deposits and other credits in a business account. The customer routinely transfers money from...
- Question #182
After evaluating recent changes to international standards, an anti-money laundering specialist should consider enhanced due diligence on accounts held by: 1. lawyers. 2. foreign e...
- Question #183
The Basel Committee on Banking Supervision issued a paper in October 2001 in which it presented a Know Your Customer framework and recommended standards applicable to
- Question #184
Upon filing a suspicious transaction report, which of th following elements should be the highest anti-money laundering priority in making the decision to keep the account open?
- Question #185
According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of produ...
- Question #186
What describes the Black Market Peso Exchange money laundering method?
- Question #187
Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers
- Question #188
What was cited by the Wolfsberg Group in its Statement on the Suppression of the Financing of Terrorism as being vulnerable to terrorist financing?
- Question #189
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?
- Question #190
In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?
- Question #191
Which three procedures should a compliance officer looking to revise an institution's CTF efforts include in accordance with the Wolfsberg Group's Statement on the Suppression of t...
- Question #192
An AML compliance officer receives notice of government update including the names of the latest terrorists sanctioned by the United Nations Security Council. Which would be the mo...
- Question #193
An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been...
- Question #194
A customer comes into a financial institution and deposits a large amount of cash. He has never done that before. When asked about the deposit, he indicates he recently sold a used...
- Question #195
How can a financial institution verify the nature and purpose of a business and its legitimacy?
- Question #196
Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking? Choose 3 answers.
- Question #197
A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, a...
- Question #198
What does designing a country as being of "prime money laundering concern" allow the U.S. government to do?
- Question #199
What are three elements of a sound Customer Due Diligence Program?
- Question #200
On who does the ultimate responsibility for an institution's anti-money laundering program rest?