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ACAMS CAMS exam covers a wide range of topics related to AML, including risk assessment, regulatory compliance, customer due diligence, and investigations. CAMS exam is designed to test the practical knowledge and skills of AML professionals, and it includes multiple-choice questions that cover real-life scenarios. CAMS Exam is divided into six sections, each of which covers a specific aspect of AML. To pass the CAMS exam, candidates must score at least 75% on each section. CAMS exam is available in multiple languages, including English, Spanish, and Chinese, and it can be taken online or at a physical testing center.

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CAMS Quiz Braindumps: Certified Anti-Money Laundering Specialists - CAMS Quiz Torrent & CAMS Exam Review

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The CAMS Certification Exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading international organization dedicated to advancing the AML profession through education, certification, and networking. CAMS Exam covers topics such as AML regulations, compliance programs, risk management, customer due diligence, and suspicious activity reporting, among others.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q422-Q427):

NEW QUESTION # 422
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are developing an application that uses an Azure Kubernetes Service (AKS) cluster.
You are troubleshooting a node issue.
You need to connect to an AKS node by using SSH.
Solution: You change the permissions of the AKS resource group, and then you create an SSH connection.
Does this meet the goal?

A. No
B. Yes

Answer: A

Explanation:
Instead add an SSH key to the node, and then you create an SSH connection.
References:
https://docs.microsoft.com/en-us/azure/aks/ssh

NEW QUESTION # 423
A financial institution opens a mortgage loan for a customer. During a subsequent internal review of the loan, it was noted that the appraisal used to support the loan was performed by an appraiser who was not on the institution's approved appraiser list. This exception was approved by the senior loan underwriter. The reviewer, who had examined other loans from the same general area, noted that the value on the loan appeared significantly higher than on other comparable properties. Which of the following should the anti-money laundering specialist recommend next?

A. Document the underwriter's actions prior to filing a suspicious transaction report.
B. Alert local law enforcement regarding a potential collusive relationship between the un-derwriter and appraiser.
C. Determine whether the loan underwriter reviewed the appraiser's license for validity.
D. Train the appraiser on anti-money laundering compliance for high-end real estate loans.

Answer: A

Explanation:
According to the Anti-Money Laundering Specialist (the 6th edition) resources, one of the red flags for money laundering in real estate transactions is the use of an appraiser who is not on the approved list of the financial institution. This could indicate a possible collusion between the appraiser and the borrower or the underwriter to inflate the value of the property and obtain a higher loan amount. The anti-money laundering specialist should document the underwriter's actions and the reasons for approving the exception, as well as the discrepancy between the appraised value and the market value of the property. The specialist should then file a suspicious transaction report (STR) to the relevant authorities, as required by the local regulations .
References:
ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 7: Money Laundering Risks and Methods, page 201.
ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 8: Anti- Money Laundering Programs, page 227.
ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 9:
Conducting or Supporting the Investigation Process, page 255.

NEW QUESTION # 424
When a bank performs a risk assessment, what areas should an institution focus on?

A. The amount of the money the institution earns prior to taxes
B. The type and location of the institution's clients
C. The geographic locations where the institution does business
D. The nature and breadth of the services and products the institution provides

Answer: B,C,D

Explanation:
A bank's risk assessment is a process of identifying, measuring, and mitigating the potential risks that the bank faces in its operations, products, services, and customers. According to the ACAMS Study Guide, a bank should focus on the following areas when performing a risk assessment1:
The type and location of the institution's clients. This involves analyzing the customer base, the types of accounts and transactions, the source and destination of funds, the level of due diligence and verification, and the risk profile of the customers. For example, a bank should consider whether its customers are individuals or entities, domestic or foreign, politically exposed persons, high-net-worth individuals, non-profit organizations, or cash-intensive businesses. The location of the customers may also indicate the level of exposure to money laundering, terrorist financing, sanctions, or tax evasion risks.
The nature and breadth of the services and products the institution provides. This involves evaluating the range and complexity of the products and services offered by the bank, the delivery channels, the payment methods, and the innovation and technology involved. For example, a bank should consider whether it offers wire transfers, correspondent banking, trade finance, private banking, trust and fiduciary services, prepaid cards, mobile banking, or cryptocurrency services. The nature and breadth of the services and products may also affect the level of transparency, traceability, and compliance of the transactions.
The geographic locations where the institution does business. This involves assessing the jurisdictions where the bank operates, where its customers reside, where its counterparties are located, and where the funds flow. For example, a bank should consider whether it has branches, subsidiaries, or affiliates in high-risk countries, whether it serves customers from high-risk countries, whether it engages in cross-border transactions, and whether it complies with the local laws and regulations of the countries where it does business. The geographic locations where the institution does business may also influence the level of exposure to political, legal, regulatory, or reputational risks.
Reference:
1: ACAMS Study Guide, Chapter 2: Risk Assessments, 1

NEW QUESTION # 425
What is a tool governments and multi-national bodies can use to prevent the proliferation of weapons of mass destruction?

A. Account Monitoring Order
B. Commission Rogatoire
C. Mutual Legal Assistance Treaties
D. Economic Sanctions

Answer: D

Explanation:
Economic sanctions are a tool that governments and multi-national bodies can use to prevent the proliferation of weapons of mass destruction (WMDs) by imposing restrictions on trade, financial transactions, travel, or other activities with targeted countries, entities, or individuals that are involved or suspected of being involved in WMD programs. Economic sanctions aim to disrupt the supply chains, funding sources, and incentives for developing or acquiring WMDs, as well as to deter and punish any violations of international norms and obligations regarding WMDs. Economic sanctions can be imposed unilaterally by a country or multilaterally by a group of countries or an international organization, such as the United Nations, the European Union, or the Financial Action Task Force.
Reference:
ACAMS CAMS Certification Video Training Course, Module 4: Preventing the Proliferation of Weapons of Mass Destruction, Lesson 4.2: Sanctions1 ACAMS CAMS Certification Study Guide, 6th Edition, Chapter 4: Preventing the Proliferation of Weapons of Mass Destruction, Section 4.2: Sanctions2

NEW QUESTION # 426
the Financing of Terrorism (CFT)]
An individual opened an account with a minimal cash deposit at a financial institution. He presented a foreign passport and stated he would be working locally for a few months. He also requested information about making electronic fund transfers. The institution was subsequently unable to verify the employment or residence information provided by the individual. Soon after this, a large transfer was sent to the customer's account. Which of the following is the course of action recommended by the Basel Committee on Banking Supervision's Customer Due Diligence for Banks?

A. Post the deposit to the account and notify the customer that the deposit has been made.
B. Close the account and return the funds to the source from which they were received.
C. End the relationship by sending a check (cheque) to the customer for the full amount in the account.
D. Implement enhanced due diligence procedures to monitor the account for suspicious activity.

Answer: D

Explanation:
According to the Basel Committee on Banking Supervision's Customer Due Diligence for Banks1, banks should have policies and procedures to identify and manage high-risk customers, such as those who provide false or incomplete information, have complex or opaque beneficial ownership structures, or are involved in large or unusual transactions. In such cases, banks should apply enhanced due diligence measures, such as obtaining additional information or documentation, verifying the source and purpose of funds, conducting more frequent and intensive monitoring of account activity, and reporting any suspicious transactions to the relevant authorities. Therefore, the best course of action for the bank in this scenario is to implement enhanced due diligence procedures to monitor the account for suspicious activity, as option B suggests.
Option A is not recommended, as it would imply that the bank accepts the customer without verifying his identity and background, which would expose the bank to money laundering and terrorist financing risks.
Option C is not advisable, as it would terminate the relationship without investigating the origin and destination of the funds, which could hinder the efforts of law enforcement agencies to trace and recover illicit assets. Option D is also not appropriate, as it would involve sending a check to a customer whose address and identity are not confirmed, which could facilitate money laundering and fraud.
:
5: Customer due diligence for banks - Bank for International Settlements, October 2001, pages 8-9, 13-14.

NEW QUESTION # 427
......

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Tom White Tom White

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