CAMS Exam Questions

Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity?...

A startup virtual currency exchange has registered as a money services business and will commence operations in six months. The company will provide digital wallets to customers to...

Which three measures are contained in Financial Action Task Force 40 Recommendations for reporting suspicious activity? (Choose three.)

What is a tool governments and multi-national bodies can use to prevent the proliferation of weapons of mass destruction?

Which two actions should Financial Intelligence Units (FIUs) take when submitting a request to another FIU? (Choose two.)

What can a compliance officer do in the absence of automated software to conduct U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) sanction screens?

A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account own...

The local manager of a remote mortgage origination department of a financial institution has just discovered that sanctions screening of new customers is not being performed. Which...

What is a method of placement that can be used by a money launderer in a deposit taking institution?

The compliance officer for a private bank has been tasked with reviewing the procedure for authorized signatories on customer accounts to ensure it is in line with relevant Wolfsbe...

Who has the day-to-day responsibility of communicating and reinforcing the established anti- money laundering compliance culture and program?

The board of directors receives notice from the primary regulator of the bank that potentially suspicious activity has been identified and the bank president appears to be involved...

In which two ways do Financial Action Task Force-style regional bodies influence anti-money laundering and terrorist financing standards within their respective regions? (Choose tw...

What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)

A local law enforcement officer, who is conducting a criminal investigation, requests information about a customer. Which two actions should the bank take? (Choose two.)

Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the cus...

A bank receives a wire transfer that references the sale of equipment to a sanctioned company. The bank's operations team removes the sanctioned company reference and allows the wi...

A compliance officer for a casino may suspect money laundering if an individual:

Which response represents a high-level principle for FATF-Style Regional Bodies (FSRB)?

A benefit of using bearer shares in corporate formations is that bearer shares are:

OFAC-issued regulations apply to which entities? (Choose two.)

What is an aspect of the USA PATRIOT Act that has extraterritorial reach?

Based on the USA PATRIOT Act, what action might the US take to demonstrate extraterritorial reach?

How should a compliance officer respond to law enforcement agencies' request for information on a customer undergoing an investigation?

Which factor should a financial institution (FI) consider prior to sharing customer records within the same jurisdiction?

Which principles should be included in a FATF-Style Regional Body (FSRB) update? (Choose two.)

A precious metals dealer opens a new account with a bank. Which requires a referral to AML Investigations for further review?

Under the USA PATRIOT Act, in which scenario would the US not have jurisdiction?

FATF recommends the incorporation of some measures in customer due diligence (CDD) programs including:

What are four key elements that a KYC program should contain according to the Basel Committee requirements?

A Money Laundering Reporting Officer's (MLRO) lack of action led to deficiencies in the bank's AML program and a civil monetary penalty being levied against the MLRO. Why was this...

Which is a key goal of EU Directives on money laundering?

An AML training program should include which requirement?

Which statement best describes a key aspect of the AML Directive of the EU regarding business relationships and transactions with high-risk third countries?

Enhanced due diligence (EDD) may be bypassed for which situation?

What core objective does the Egmont Group suggest would lead to an effective national Financial Intelligence Unit (FIU)?

A new AML Officer for a US-based money service business (MSB) is drafting procedures around types of activity that require further review. Which should be included? (Choose two.)

Which is a key role of FATF-Style Regional Bodies (FSRBs)?

When implementing a risk-based approach related to casinos, which risks are related to the customer as an individual? (Choose two.)

A financial institution (FI) is being investigated for possible money laundering. When cooperating with law enforcement agencies, which additional steps should the FI ensure are ta...

When should a financial institution (FI) exit a relationship? (Choose two.)

Which statement is true regarding the FATF standards for SARs/STRs information sharing within a financial group?

Which statements regarding the USA PATRIOT ACT best describe key aspects that have extraterritorial reach? (Choose three.)

The ultimate goal of economic sanctions is to:

Why do organized crime groups often use front companies? (Choose two).

Which Trust parties should be identified to determine the true nature of the Trust relationship according to Basel guidelines? (Choose three.)

Which unusual or suspicious activity by a financial institution's (FI's) employee requires additional investigation and scrutiny?

After review of the financial institution's enterprise-wide anti-money laundering risk assessment, the new compliance officer identifies several deficiencies that need attention. W...