CAMS Exam Questions

Which two aspects of the security broker dealer industry increase its exposure to money laundering? Choose 2 answers

In which three situations is correspondent banking most vulnerable to money laundering? Choose 3 answers

How does a regulatory body typically obtain international assistance in a money Laundering inquiry?

Federal law requires all U.S. financial institutions to secure and maintain all records and supporting documentation used m suspicious activity reporting for how many years?

What is a major money laundering risk associated with a number of prepaid cards as opposed to credit or debit cards?

Why would a credit card account likely not be used in the placement stage of money laundering?

What are some red flags financial institutions should be aware of when trying to verify the identity of a customer? Choose 3 answers

A compliance officer is looking to modify procedures covering correspondent banking relationships. Which three would be recommended under the Wolfsburg Principles on Correspondent...

When an institution conducts an internal investigation into an account following a law enforcement inquiry, it should consider a number of factors to independently determine if the...

What should be part of an institution's monitoring and STR filing process? Choose 3 answers

A bank account is established for a new business customer. The business was established five years ago with an address in another state. The business website contains few details o...

A branch manager for a small community bank has a new customer who deposits for EUR 50,000 checks into one account. Shortly thereafter, the customer goes to another branch and asks...

A government has instituted a new anti-money laundering laws which require all financial institutions to obtain certain information from its customers. Which step should an institu...

An anti-money laundering audit identifies a significant weakness in how transaction monitoring alerts are cleared. Audit sampling identified potentially suspicious activity that wa...

Which method to launder money through deposit-taking institutions is closely associated with international trade?

A customer opens a corporate account with a broker-dealer on behalf of several beneficial owners, with a stated long-term investment goal. The customer deposits $25.5 million into...

What should countries do to help prevent non-profit organizations from being abused for the financing of terrorism according to the Financial Action Task Force 40 Recommendations?

Using the customer profile and expected activity information, a financial institution should be able to identify transactions that are difficult to:

Which are essential elements of a KYC program identified by the Base1 Committee on Banking Supervision? (Select Two.)

According to the Basel Committee's principles on customer due diligence, a bank should:

Which transaction monitoring processes would alert a bank for red flag activity?

A company is endorsing the execution of terrorism through different activities, such as developing content for pro-terrorist television messages, encouraging the support of terrori...

The Chief Compliance Officer (CCO) of a financial institution has been asked by a manufacturing customer reliant upon imported raw materials if there will be repercussions to his b...

Which is a key aspect of the first EU Directive on Money Laundering?

What should an employee do after witnessing suspicious activity from a coworker?

An oil exploration company based in France does business with oil refineries in Iran, which is subject to comprehensive Office of Foreign Assets Control (OFAC) sanctions. What type...

Which is true about Financial Action Task Force (FATF)-Style Regional Bodies (FSRBs)?

When considering sharing information across the institution or within the same jurisdiction, what is the key legal issue that poses challenges to sharing customer-related informati...

Which does the USA PATRIOT Act stipulate for foreign banks concerning correspondent banking?

Typical events to identify and investigate potential AML activities include: (Select Three.)

When a financial institution is requested to provide data and information to a law enforcement agency for matters related to financing of terrorism, assistance:

Why should a financial institution (Fl) require an update of its AML risk assessment?

Which are key objectives of the Egmont Group? (Select Two.)

Which of the following employee behaviors would not trigger an AML red flag?

When assessing and managing money laundering risks while operating in foreign jurisdictions different from that of the head office, an effective AML monitoring program should:

When using virtual assets such as Bitcoin to finance terrorism, which tactic may be used to ensure that the virtual assets are not easily seized by law enforcement?

Which is an extraterritorial function of Office of Foreign Assets Control sanctions?

According to the Financial Action Task Force, which action must a financial institution take to fulfill customer due diligence obligations?

Who bears the ultimate responsibility for approving a financial institution's relationship with a politically exposed person?

What are the three basic functions of a national financial intelligence unit?

Which risks are involved in a correspondent banking client's ownership and management structure? (Select Two.)

In its paper. Customer Due Diligence for Banks, the Basel Committee on Banking Supervision identified which risks on banking institutions as a result of an inadequate KYC program?

Which regulatory bodies cooperate when dealing with cross-border suspicious or unusual financial activity investigations?

A US casino customer has won 55,518 USD. The customer goes to the casino cashier cage to execute some transactions. Which ^transactions are an indicator of money laundering? (Selec...

A new business opened an account at a bank. After a month of activity, the account is referred to AML Investigations for potential human trafficking activity. Which red flags most...

Who meets the standard to perform the AML audit? (Select Two.)

Which is a characteristic of the Financial Action Task Force (FATF) 40 recommendations?

An example of an external factor that will affect an organization's AML risk is:

Which is an emerging risk associated with cyber-enabled fraud?

A non-US bank is implementing a sanctions compliance program. Which extraterritorial reach of Office of Foreign Assets Control (OFAC) regulations would matter the most to the forei...