Online Access Free Advanced-CAMS-Audit Exam Questions

Following completion of testing and tuning of the parameters and thresholds of the transaction monitoring model which final step should the team recommend as necessary to verify effective model functioning?

• A.Model validation
• B.Data validation
• C.Audit continuous monitoring
• D.Regulatory approvals

When evaluating an AML training program tor CFT functions the auditor should verify that:

• A.interns and third parties are not included.
• B.ethics training has been delivered to senior management.
• C.tailored training has been provided to AML and CFT staff.
• D.attendees have completed post-course surveys.

An audit determines that an important control is not being performed. The operational manager responds to the audit comment stating that they do not have adequate resources in the department to accomplish this task.
The audit item discussion between the auditor and the operational manager is a(n):

• A.general license authorizing a transaction for an entity, and a specific license authorizing a transaction for an individual.
• B.sustainability assessment.
• C.root cause analysis
• D.internal control test.

Which should be evaluated when analyzing components of risk mitigation in an AML risk assessment?
(Select Two.)

• A.Office of Foreign Assets Control filtering
• B.Overall customer volume
• C.Liquidity risk
• D.Customer risk
• E.Product risk

An auditor plans to examine a sample targeting newly onboarded, high net-worth clients to assess adherence to their onboarding policies. What sampling methods should the auditor use? (Select Three.)

• A.Judgment sampling
• B.Snowball sampling
• C.Stratified sampling
• D.Discovery sampling
• E.Systematic sampling
• F.Simple random sampling