Online Access Free ACAMS.CAMS.v2024-06-28.q652 Practice Test (Page 102)

CAMS Exam Question 501

In which three situations is correspondent banking most vulnerable to money laundering? Choose 3 answers

A.When allowing foreign banks to use the correspondent account to conduct large financial transactions on behalf of their customers

B.When allowing financial institutions, without proper due diligence, to access correspondent network for routing their financial transactions

C.When allowing the correspondent bank account to be used as a payable through account (PTA)

D.When allowing the correspondent bank account to be used by other banks

CAMS Exam Question 502

Which action indicates possible Penza scheme activity?

A.A licensed seller offers higher profit on investments in a high risk country

B.An unlicensed investment advisor offers profits other investments cannot guarantee

C.A licensed investment advisor lures aging/retired professionals to invest in securities

D.A unlicensed investment advisor offers returns that are competitive with industry benchmarks

CAMS Exam Question 503

What should a compliance officer provide to facilitate board understanding of suspicious activity reported by an institution?

A.A listing of all STRs filed, including supporting details

B.Copies of all STRs filled with the national FIU

C.A numerical summary of all STRs filed, including supporting details on all the STRs

D.A numerical summary of the STRs filed, including additional detail on significant cases

CAMS Exam Question 504

What should countries do to help prevent non-profit organizations from being abused for the financing of terrorism according to the Financial Action Task Force 40 Recommendations?

A.Allow for freezing assets of non-profit organizations

B.Require all non-profit organizations to register with the country's financial intelligence unit

C.Ensure non-profit organizations cannot be used to conceal or obscure the diversion of funds intended for legitimate purposes to terrorists' organizations

D.Create laws that forbid non-profit organizations from completing cross-border transactions without first running them through known terrorist data bases

CAMS Exam Question 505

A politically exposed person (PEP) maintains an account at a bank. Last month a money laundering analyst filed a suspicious transaction report about unusual wire deposits originated by unknown individuals in the home country of the official. Recently a negative news search revealed political corruption in the home country of the official.
To whom should this situation be escalated?

A.The Financial Action Task Force's PEP Hotline

B.The bank's anti-money laundering officer

C.The board of directors

D.The line of business executive

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CAMS Exam Question 501

CAMS Exam Question 502

CAMS Exam Question 503

CAMS Exam Question 504

CAMS Exam Question 505

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