CAMS Exam Questions

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...

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...

Which of the following is the best action to take regarding a particular account once suspicious activity is reported by the institution?

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...

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...

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...

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...

According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professions include

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...

During an ongoing investigation into a client's activities by a competent authority, a compliance officer should

Which of the following represents the first Financial Action Task Force initiative?

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...

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...

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...

A charity has unaudited accounts. Which of the following represents the highest risk factor for terrorist financing?

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...

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...

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...

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...

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...

Which of the following customer transactions with a securities dealer would indicate the highest suspicion of money laundering?

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...

Which of the following is the financial stage of money laundering?

Which of the following customers require the most enhanced due diligence?

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...

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...

Under requirements for correspondent accounts in the USA PATRIOT Act, the word "certification" refers to a written representation by a

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...

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...

According to the European Union Money Laundering Directives, "knowledge, intent or purpose"' required as an element for money laundering may be inferred from

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...

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...

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

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?

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...

What describes the Black Market Peso Exchange money laundering method?

Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers

What was cited by the Wolfsberg Group in its Statement on the Suppression of the Financing of Terrorism as being vulnerable to terrorist financing?

In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?

In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?

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...

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...

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...

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...

How can a financial institution verify the nature and purpose of a business and its legitimacy?

Which three criteria does a shell bank meet according to the Wolfsberg Principles on Correspondent Banking? Choose 3 answers.

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...

What does designing a country as being of "prime money laundering concern" allow the U.S. government to do?

What are three elements of a sound Customer Due Diligence Program?

On who does the ultimate responsibility for an institution's anti-money laundering program rest?