Latest [Aug 01, 2023] 100% Passing Guarantee - Brilliant CAMS Exam Questions PDF
CAMS Certification – Valid Exam Dumps Questions Study Guide! (Updated 512 Questions)
NEW QUESTION # 204
An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution. Which of the following should be included?
1. A training program for senior management and staff.
2. An anti-money laundering compliance program, internal audit program, and procedure manual.
3. Basel Committee on Banking Supervision's capital adequacy requirements for the host country.
4. Compliance requirements of host and chartering countries.
- A. 2, 3, and 4 only
- B. 1, 2, and 3 only
- C. 1, 3, and 4 only
- D. 1, 2, and 4 only
Answer: D
NEW QUESTION # 205
Why do governments and multi-national bodies impose economic sanctions?
- A. To enforce foreign policy objectives
- B. To combat an imminent terrorist threat
- C. To impede kleptocracy
- D. To prevent fraudulent international trade transactions
Answer: A
NEW QUESTION # 206
On what basis are international sanctions imposed against entities?
- A. For their involvement in terrorism
- B. For their involvement in stripping information from SWIFT cover payments and Letters of Credit
- C. For their involvement in the black market peso exchange
- D. For their involvement in human trafficking and bulk cask smuggling
Answer: A
NEW QUESTION # 207
What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?
- A. The financial institution may notify the account holder of the request
- B. A copy of all the documentation released must also be provided to the account holder's attorney
- C. Confirm that the request originated from a representative of the law enforcement agency
- D. Documentation must be provided as quickly as possible using email
Answer: C
Explanation:
Reference: https://www.sec.gov/about/offices/ocie/aml2007/fin-2007-g003.pdf
NEW QUESTION # 208
A Trust and Company Service Provider (TCSP) providing services should have policies and procedures in place to identify critical information of the:
- A. general manager.
- B. controller.
- C. registered address.
- D. signatory.
Answer: D
Explanation:
Reference:
https://www.fatf-gafi.org/media/fatf/documents/reports/RBA-Trust-Company-Service-Providers.pdf
NEW QUESTION # 209
A bank located in Arizona is considering a loan application for a new client. The collateral for the loan is a property in Florida.
The loan will be in the name of a limited company (LLC) whose ownership is not disclosed to the bank. The LLC was established by a New York-based attorney.
The loan will be repaid by the LLC in monthly wire transfers of $9,000 which is more than the required monthly payment.
Which aspect indicates the potential for money laundering?
- A. The LLC's ownership is not disclosed to the bank
- B. The collateral, a property in Florida, is not located in Arizona
- C. The attorney associated with the account is outside the bank's lending area
- D. The repayment in the amount of $9,000 indicates potential structuring
Answer: A,D
NEW QUESTION # 210
Law enforcement submitted a request to a bank for information regarding one of its customers.
How should the bank respond according to Financial Action Task Force Guidance?
- A. Ensure that the request will not violate any local privacy regulations or legislation
- B. Contact the customer informing the person of the investigation to ensure the bank provides correct information
- C. Ensure the information is necessary to the investigation before responding to the request
- D. Provide all information requested to support the investigation
Answer: D
NEW QUESTION # 211
A money remittance business will most likely attract money launderers because it
1.deals primarily in cash transactions.
2.engages in international transactions.
3. conducts transactions for walk-in customers.
4.does not have to comply with transaction reporting.
- A. 2, 3, and 4 only
- B. 1, 2, and 3 only
- C. 1, 3, and 4 only
- D. 1, 2, and 4 only
Answer: D
NEW QUESTION # 212
You need to evaluate trends in fuel prices during a period of 10 years. The solution must identify unusual fluctuations in prices and produce visual representations.
Which Azure Cognitive Services API should you use?
- A. Anomaly Detector
- B. Text Analytics
- C. Computer Vision
- D. Bing Autosuggest
Answer: A
Explanation:
The Anomaly Detector API enables you to monitor and detect abnormalities in your time series data with machine learning. The Anomaly Detector API adapts by automatically identifying and applying the best-fitting models to your data, regardless of industry, scenario, or data volume. Using your time series data, the API determines boundaries for anomaly detection, expected values, and which data points are anomalies.
References:
https://docs.microsoft.com/en-us/azure/cognitive-services/anomaly-detector/overview
NEW QUESTION # 213
How does the Asian/Pacific Financial Action Task Force <FATF>-Style Regional Body help its members implement recommendations from the FATF? (Select Two.)
- A. Promotes laws that allow judicial challenges to seizure orders by an administrative body
- B. Facilitates the adoption and implementation of internationally accepted AMI measures by member jurisdictions
- C. Encourages cooperative AML efforts in the region
- D. Endorses regulations that define money laundering based on the model laws issued by the respective member states
- E. Requires members to maintain lists of regional money laundering and terrorists financing issues relevant to their region
Answer: B,C
Explanation:
Explanation
The Asian/Pacific Financial Action Task Force-Style Regional Body (APG) helps its members implement recommendations from the FATF by facilitating the adoption and implementation of internationally accepted AML measures by member jurisdictions (CAMS Manual, 6th Edition, Page 22). The APG also encourages cooperative AML efforts in the region, which can include information-sharing and mutual evaluations to assess member compliance with FATF recommendations (CAMS Manual, 6th Edition, Page 25). Therefore, options C and D are the correct answers.
NEW QUESTION # 214
Which factors specific to the securities industry increase the exposure to money laundering risk? (Select Two.)
- A. The speed of the transactions
- B. The increase of sector-specific guidance
- C. The complexity of the securities business
- D. The practice of brokerage firms maintaining securities as nominees
- E. The link to sanctioned countries
Answer: A,D
Explanation:
Explanation
The practice of brokerage firms maintaining securities as nominees and the speed of the transactions are two factors specific to the securities industry that increase the exposure to money laundering risk. Nominee accounts can be used to conceal beneficial ownership and obscure transaction trails. The speed of transactions can make it difficult to detect and prevent suspicious activity in real time.
NEW QUESTION # 215
A well-developed anti-money laundering compliance program is unlikely to achieve institutional goals without
- A. Screening all staff.
- B. Training appropriate employees.
- C. Endorsement by a competent authority.
- D. Verification of account owners.
Answer: C
NEW QUESTION # 216
Which three statements are true regarding the extraterritorial reach of laws and legislation of the U.S.?
- A. Economic and trade sanctions by OFAC may pose extraterritorial risks for financialinstitutionsand businesses outside the U.S.
- B. The defendant does not need to know the funds came from an illegal activity under state,federal or foreign law
- C. The criminal anti-money laundering law can apply to transactions that occur partiallyoverseas
- D. The extraterritorial reach covers all transactions throughout the global economy
Answer: A,B,C
NEW QUESTION # 217
What are some red flags financial institutions should be aware of when trying to verify the identity of a customer? Choose 3 answers
- A. Customer having no permanent address
- B. Customer not having a connected phone
- C. Customer being new to the community
- D. Customer having unusual documents from a foreign country
Answer: A,C,D
NEW QUESTION # 218
What is most valuable when using the internet as an investigative source?
- A. A reference list of websites known to yield credible information
- B. A combination of independent thinking and technical skills
- C. A team of AML investigators
- D. A powerful search engine
Answer: A
NEW QUESTION # 219
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The CAMS exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a professional organization dedicated to promoting the fight against financial crime. CAMS exam consists of multiple-choice questions covering four main areas: AML regulations and compliance, money laundering methods and techniques, conducting AML investigations, and managing AML risks. Candidates must achieve a passing score of 75% or higher to earn the CAMS certification.
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