ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) - CAMS Free Exam Questions

A. Transaction Risk

B. Geographic Risk

C. Customer Risk

D. Credit Risk

A. Micro-structuring cash

B. Obscured beneficial ownership

C. Legitimizing illicit funds

D. Misuse of money service business

A. All thefinancial institutions where the new customer currently banks or banked previously.

B. Theemployment profilesand information of all employees of the new customer.

C. The type of businessthe corporate customer is engaged in.

D. Theidentity of senior managing officialsand all individuals authorized to operate the account.

E. Thecountry or locationwhere the customer is from or conducts business.

A. High number of transactions through company's connected bank accounts

B. Paper packaging demand production

C. Business registry activities state promotion of environmental protection

D. Executive's association with politically exposed persons

E. Expeditious shipment of wood to far away jurisdictions

F. Use of heavy machinery in non-protected areas

A. It allows for the US Attorney General to subpoena records from a foreign bank with US correspondent accounts, including those that are located outside the US.

B. It allows the Secretary of the Treasury to order a US financial institution (FI) to close a correspondent account when a subpoena has not been responded by a foreign bank in a timely manner.

C. It allows federal banking supervisors to require records of the identity of the owners of a foreign bank from a Fl operating in the US.

D. It excludes as foreign FIs businesses that would be considered broker-dealers, money transmitters, and currency exchangers.

E. It obliges the government to trace the origin of the funds when a seizure of assets occurs in a correspondent account that has been opened and maintained for a foreign bank in the US.

F. It allows foreign banks to voluntarily designate a registered agent in the US to accept service of subpoenas.

A. OFAC sanctions programs prohibit transactions and require the blocking of assets of foreign individuals that appear in negative media sources.

B. OFAC administers sanctions based on criminal investigations against targeted foreign individuals.

C. OFAC acts only under presidential wartime emergency powers, against countries and foreign individuals considered enemies of the US.

D. OFAC has the power to impose significant penalties on foreign individuals who are found to be in violation of the blocking orders.

A. Increased organized crime and corruption

B. Reputation risk for the port

C. Loss of tax revenue

D. US sanctions

A. Inform the customer their activity Is suspicious and request an explanation

B. Make a note in the customer's account that the customer's gambling activities are frequently conducted below the reporting limit

C. Follow internal reporting procedures to escalate the activity as suspicious and report to appropriate authorities

D. Contact law enforcement to launch an Investigation into the customer's financial activities

A. The trio purchased the chips with cash and proceeded to gamble.

B. The trio purchased chips worth 20,000 USD and requested a casino cheque for the remaining chips.

C. The trio uses chips worth 200 USD to gamble before requesting the refund.

D. The trio engage in minimal gambling and combine the funds to request a casino cheque for the chips presented.

A. Conducting small cash transactions at multiple locations during the same day.

B. Establishing both a personal and business account and depositing cash in both.

C. Performing transactions by check (cheque) or other payment instrument.

D. Making small cash deposits over the course of a week.