CAMS VCE FILES & CAMS RELIABLE TEST PRICE

CAMS Vce Files & CAMS Reliable Test Price

CAMS Vce Files & CAMS Reliable Test Price

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Tags: CAMS Vce Files, CAMS Reliable Test Price, Test CAMS Answers, Exam CAMS Prep, Interactive CAMS EBook

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All these three CAMS exam question formats contain the real, updated, and error-free CAMS exam practice test. These ACAMS CAMS exam questions give you an idea about the final ACAMS CAMS exam questions formats, exam question structures, and best possible answers, and you will also enhance your exam time management skills. Finally, at the end of ACAMS CAMS Exam Practice test you will be ready to pass the final ACAMS CAMS exam easily. Best of luck in ACAMS CAMS exam and professional career!!!

The CAMS exam covers a broad range of topics, including money laundering and terrorist financing methods, regulatory frameworks, risk assessment, due diligence, and sanctions compliance. CAMS exam consists of 120 multiple-choice questions that must be completed within a 3.5-hour time limit. Candidates must achieve a passing score of 75% or higher to earn the CAMS certification. Certified Anti-Money Laundering Specialists certification must be renewed every three years by completing continuing education courses and demonstrating ongoing professional development in the AML field. Overall, the CAMS Certification is an essential credential for professionals working in the financial industry who want to enhance their knowledge and expertise in the fight against money laundering and terrorist financing.

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Free PDF Quiz ACAMS - Authoritative CAMS - Certified Anti-Money Laundering Specialists Vce Files

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q602-Q607):

NEW QUESTION # 602
Which is most relevant when examining transactions suspected of being associated with money laundering via real estate?

  • A. The asset's location
  • B. The financial institutions involved in the transaction
  • C. The beneficial owner of the asset
  • D. The currency used for payment

Answer: C

Explanation:
Money laundering through real estate transactions involves integrating illicit funds into the legitimate financial system while providing a relatively "safe" property investment. In this context, the most relevant factor to examine is the beneficial owner of the asset. Identifying the true owner behind a property helps uncover potential money laundering schemes. Criminals often use third parties, shell companies, or complex ownership structures to distance the transaction from the source of illicit funds. Investigating the beneficial owner's identity is crucial for detecting and preventing real estate-related money laundering12.
References:
Understanding money laundering through real estate transactions
What Is Money Laundering? - Investopedia


NEW QUESTION # 603
A bank employee recently opened an account for a new restaurant. Daily cash deposits over a three-month period are close to $9,500.
What are two red flags that indicate possible money laundering or terrorist financing? (Choose two.)

  • A. It is a new account that has daily cash deposits
  • B. The restaurant is located in a different city
  • C. The new account demonstrates a steady flow of income
  • D. The daily cash deposits are so close in amount

Answer: C,D


NEW QUESTION # 604
Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

  • A. Purchase of monetary instruments of $3,000 or more involving foreign correspondent accounts
  • B. A suspicious activity report filed and the supporting documentation involving foreign correspondent accounts
  • C. Section 314(b) information sharing results related to foreign correspondent accounts
  • D. Records identifying the owners of each foreign bank

Answer: C


NEW QUESTION # 605
A close relative of a privately-owned bank's senior manager requests to open an account. Because of this relationship, the staff expedites the opening of the account without following established account-opening procedures. Applying the Basel Committee on Banking Supervision principles, which of the following poses the highest operational risk?

  • A. Not having appropriate information to share with Financial Intelligence Units.
  • B. The bank's exposure to politically exposed persons.
  • C. Failure to conduct proper due diligence.
  • D. The possibility of lawsuits that adversely affect the operations of a bank.

Answer: C

Explanation:
According to the Basel Committee on Banking Supervision principles, one of the core principles for effective banking supervision is that the supervisor determines that banks have adequate policies and processes for identifying, assessing and managing the risk and impact of exposures to and transactions with related parties, and that these policies and processes are effectively implemented1. Failure to conduct proper due diligence on a close relative of a senior manager who requests to open an account poses the highest operational risk, as it could result in conflicts of interest, reputational damage, legal liability, or financial losses for the bank. The other options are not necessarily the highest operational risk, as they depend on the nature and extent of the relationship, the type and size of the account, and the regulatory and legal framework of the jurisdiction.
References: 1 Core principles for effective banking supervision, Principle 20.


NEW QUESTION # 606
After a FATF mutual evaluation process, which are resulting actions for jurisdictions that are determined to have strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing? (Choose two.)

  • A. Request FATF for an extension of deadlines in order to provide local awareness on the improvements that are necessary to solve the deficiencies.
  • B. Expect private statements from FATF regarding the level of compliance of the jurisdiction, when insufficient progress is made.
  • C. Appeal to FATF for a technical compliance re-rating based on the jurisdiction's own experts criteria.
  • D. Report to FATF on the implementation of their progress under the enhanced follow-up mechanism.
  • E. Demonstrate a high-level commitment to swiftly resolve the identified deficiencies in the FATF mutual evaluation report.

Answer: D,E


NEW QUESTION # 607
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