Online Access Free ACAMS.CAMS.v2021-12-17.q305 Practice Test (Page 50)

CAMS Exam Question 241

What describes the Black Market Peso Exchange money laundering method?

A.A method primarily used by narcotics traffickers to transfer value back to the source country

B.A method used to smuggle dollars or pesos across that border from the U.S. to Mexico, and vice versa

C.An undercover technique to identify politically exposed persons who may assist money launderers

D.The best known money laundering method used by known terrorists

CAMS Exam Question 242

What are two legal risks of having inadequate privacy policies and procedures? (Choose two.)

A.Diminished reputation

B.Charges of deceptive business practices

C.Higher marketing and public relations costs

D.Industry of regulatory sanctions

CAMS Exam Question 243

What does designing a country as being of "prime money laundering concern" allow the U.S. government to do?

A.Ensure the inclusion of that country onto FATF's Non-Cooperative Country and Territory list

B.Ensure the inclusion of that country into the office of Foreign Asset Control country sanctions programs

C.Close some or all correspondent or payable-through accounts

D.Obtain transactional information from U.S.-owned subsidiary banks located outside the U.S.

CAMS Exam Question 244

Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsberg Principles on Private Banking? Choose 3 answers

A.Persons determined to be Politically Exposed Persons (PEPs)

B.Persons engaged in business activities known to be susceptible to money laundering

C.Persons who receive funds from a correspondent banking relationship

D.Persons residing in a having funds from countries with inadequate AML standards

CAMS Exam Question 245

A compliance officer is looking to update an institution's private bank procedures. What should be included as recommended by the Wolfsberg AML Principles on Private Banking?

A.Approval of Politically Exposed Persons (PEPs) by at least one person other than the relationship manager

B.Dedicated automated AML monitoring of client activity

C.Review of client files annually if there are unusual transactions

D.The institution's senior management has primary responsibility for the relationship

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CAMS Exam Question 241

CAMS Exam Question 242

CAMS Exam Question 243

CAMS Exam Question 244

CAMS Exam Question 245

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