Online Access Free CAMS Exam Questions

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 of OFAC sanctions should be imposed against the French company?

• A.Secondary
• B.List-based
• C.Sectoral
• D.Country-based

An anti-money laundering consultant audits a bank's current anti-money laundering policies, procedures and controls. The bank serves high-income, high net-worth clients who include non-residents and offshore businesses. During a review of the custom list, the anti-money laundering consultant determines that he and the bank have mutual clients. The bank's written anti-money laundering program includes a process for the bank to establish the identity of the person with whom they conduct business, but does not address monitoring of customer account activity.
The consultant should recommend the bank:

• A.Revise the procedures to better assess ongoing customer activity.
• B.Focus on high-risk customer acceptance procedures.
• C.Reduce the risk rating on the mutual customers.
• D.Continue to follow the current written anti-money laundering program.

An internal investigation log is primarily intended to:

• A.Track the status of investigations into unusual activity.
• B.Detect and monitor possible suspicious activity.
• C.Provide training on investigations to the anti-money laundering officer and Financial IntelligenceUnit.
• D.Report status of investigations to the Board of Directors.
• E.Report status of investigations to the Board of Directors.

Which activities are part of adverse media screening for negative news and reputational risks? (Select Three.)

• A.Periodically monitoring regulatory updates and enforcement actions for associated entities
• B.Analyzing customer sentiment through feedback and surveys
• C.Identifying individuals or entities linked to criminal activities or sanctions
• D.Monitoring changes in credit scores of individuals or entities
• E.Scanning publicly available news articles and regulatory alerts

Which of the following customer activities poses the highest risk of money laundering?

• A.Paying a supplier of precious metals at regular quarterly intervals.
• B.Conducting business in a country that represents a high risk of money laundering.
• C.Transferring funds to pay for flight training lessons.
• D.Making multiple cash deposits slightly below a required reporting limit.