CAMS Exam Questions

Which statement about U.S. Specified Unlawful Activities (SUA) is true?

An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institutio...

A customer comes into the bank and appears to be ill-at-ease waiting in the teller line. When the customer gets to the teller, he become exceedingly nervous and asks for a large ca...

Which three elements should be considered in an institution's enhanced due diligence process to assure itself that it has secured sufficient understanding of its higher risk respon...

Which three should real estate agents include in the criteria to assess their company's potential money laundering and terrorist financing risks when implementing a reasonable risk...

According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professionals include which entities?

Bank A is located in Country A. A wire transfer from Bank B located in Country B is processes by Bank A, where the funds are being moved to a customer at Bank C located in Country...

With which person(s) should an anti-money laundering officer coordinate when implementing a new hire screening program?

A compliance officer is conducting a review of the automated transaction monitoring system. What would be most likely to result in a change in the monitoring system parameters?

Which three are the most commonly used risk criteria?

Which three do the Office of Foreign Asset Control regulations cover? Choose 3 answers

Which statement is true about when an institute becomes aware that a particular employee is under investigation by law enforcement as a result of a subpoena or warrant?

In relationship to life insurance business, the third European Directive states that Member States may allow the identity verification of the beneficiary under the policy after the...

What was the topic the Wolfsberg Group's first guidance addressed?

What is an indicator of suspicious activity?

What is the primary action a financial institution should take before formulating its anti-money laundering program?

When an institution files an STR with regard to a particular account, what steps should the institution take visa account?

What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers

The bank for International Settlements provides the secretariat for which organization?

In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent o...

What are three potential issues for foreign financial institutions maintaining correspondent accounts with U.S. banks under the Patriot Act? Choose 3 answers

A client who owns a swimming pool company requests to open 19 accounts at a bank, each with a debit card for its swimming pool technicians. When asked about the purpose of each acc...

A bank sells reloadable open-loop prepaid cards to both customers and non-customers. What is a red flag associated with these cards that may indicate money laundering?

Which product is considered to be of highest money laundering risk?

A compliance officer at a large financial institution has been tasked by senior management to lead a team in an internal review and potential revision of the institution's customer...

A bank provides trade financing for a company whose primary export is steel. Which action by the company indicates possible money laundering?

An anti-money laundering analyst is reviewing a new customer list to confirm potentially high risk customers have been identified and subject to enhanced due diligence. Which new c...

Which statement about a multinational institution's ability to fully investigate unusual activity in all its foreign operations is correct?

Which step should be taken to understand the types of financial institutions to whom the services are being offered when a correspondent bank permits "nested" relationships accordi...

What does the Basel Committee's Customer Due Diligence for Banks paper suggest that a bank needs to have in place when establishing an account for a corporate business entity?

Which measure to mitigate risk does the Basel Committee's Customer Due Diligence Principles suggest banks apply when accepting business from non-face-to-face customers?

A comprehensive set of risk-based guidelines for maintaining business relationships is being developed. Which situation indicates that the institution should terminate the relation...

At a small community bank, the compliance officer identifies unusual activity on a customer, who with his personal and company accounts, is the bank's largest depositor. The custom...

What does the Egmont Group's support for its members include?

Which statement identifies one of the duties of a government Financial Intelligence Unit?

A new accounts representative recently opened an account for individual whose stated employment is tutoring students. Which customer action indicates possible money laundering?

A bank has opened a new account for a well-known attorney to manage client funds. During the first six months, bank staff observe the account receives multiple deposits via wire tr...

How can a `free-look provision' as part of a life insurance policy help criminals to launder money?

Since its last regulatory examination, a financial institution has aggressively grown by adding profitable new products and services. The institution has not historically received...

An auction house dealing in fine art and antiques sells a well-known painting at a price of $12 million to an agent bidding for a group of local investors. The same painting sold t...

How can violations of anti-money laundering laws be a risk to individuals?

A director of a financial institution was convicted of laundering money as part of a Ponzi scheme and terminated. As a result of an internal investigation evidence proved that an e...

The new compliance officer has reviewed the bank's anti-money laundering training program. The program consists of online training for all new employees within 30 days of hire date...

An institution receives a request for credit from a local company that has been a client for many years. The information provided by the company indicates that its assets have incr...

Which method to finance terrorism involves falsifying transaction-related documents?

Bank A is a non-United States (U.S.) bank that has $5 million in a correspondent account at a bank in New York City. The Worldwide Terrorist Syndicate (WTS) has $1 million in its a...

A money transmitter's nation-wide agent network remits funds to a country in Africa on behalf of an immigrant community based in the United States. A terrorist group is known to op...

A compliance officer is tasked with implementing an enterprise-wide anti-money laundering program for a bank, which operates in multiple countries. Not all the bank products and se...

What do the Financial Action Task Force (FATF) mutual evaluations of each member assess?

A compliance officer is reviewing the activity of the wire transfer department for the previous month and identifies an unusual wire transfer from a customer's account. Which infor...