CAMS Exam Question 41

A bank maintains a relationship with a customer who owns a small bakery business.
Which customer action indicates potential money laundering?
  • CAMS Exam Question 42

    You need to meet the testing requirements for the data scientists.
    Which three actions should you perform? Each correct answer presents part of the solution.
    NOTE: Each correct selection is worth one point.
  • CAMS Exam Question 43

    What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)
  • CAMS Exam Question 44

    CORRECT TEXT
    According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions?
    1.Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500.
    2.Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral.
    3.A ptfiisiui i Ll idL pr uviJcfb lelir emei it bei lefils Lu employees.
    4.Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.
  • CAMS Exam Question 45

    In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
    What is another name for these internal, non-client accounts?