Latest Feb 14, 2022 Real CAMS Exam Dumps Questions Valid CAMS Dumps PDF
ACAMS CAMS Exam Dumps - PDF Questions and Testing Engine
Who should take the CAMS exam
The CAMS certification is an internationally-recognized credential that identifies persons who earn it as possessing specialized AML knowledge. AML professionals who earn the CAMS designation position themselves to be leaders in the business and to expertise professional growth. If a candidate wants significant improvement in career growth needs enhanced knowledge, skills, and talents. The CAMS certification provides proof of this advanced knowledge and skill. If a person fulfills the following eligibility requirements of the CAMS exam then he should take this exam.
- Submit supporting documents.
- Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
- Provide three professional references.
NEW QUESTION 111
An anti-money laundering analyst is reviewing a new customer list to confirm potentially high risk customers have been identified and subject to enhanced due diligence.
Which new customer warrants enhanced due diligence?
- A. A medical practice limited partnership
- B. An employee benefit plan trust
- C. A non-profit hospital
- D. A fundraising organization
Answer: D
NEW QUESTION 112
A comprehensive set of risk-based guidelines for maintaining business relationships is being developed.
Which situation indicates that the institution should terminate the relationship with a client?
- A. The client exceeds the criteria of an acceptable risk model created by another institution that is not similar in size and complexity.
- B. The client exceeds the criteria of an acceptable risk model created by the institution and does not perform acceptable remedial actions.
- C. The client conducts international financial transactions exceeding U.S. $500 million.
- D. The client does business in countries with active terrorist organizations.
Answer: B
Explanation:
Explanation/Reference: http://www.fatf-gafi.org/media/fatf/documents/reports/Risk-Based-Approach-Banking-Sector.pdf
NEW QUESTION 113
Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?
- A. Conducting anonymous transactions
- B. Conducting a large volume of transactions
- C. Providing continuous worldwide access
- D. Conducting large value transactions
Answer: C
NEW QUESTION 114
A compliance officer is looking to modify procedures covering correspondent banking relationships. Which three would be recommended under the Wolfsburg Principles on Correspondent Banking? Choose 3 answers
- A. Prohibition on offering products or services to shell banks
- B. Periodic risk-based reviews of cents
- C. Risk-based rating of central banks and regional development banks
- D. Assessing the regulatory status and history of the client
Answer: A,B,D
NEW QUESTION 115
According to the European Union Money Laundering Directives, "knowledge, intent or purpose"' required as an element for money laundering may be inferred from
- A. Subjective factual circumstances.
- B. Objective factual circumstances.
- C. Subjective non-factual circumstances.
- D. Objective non-factual circumstances.
Answer: B
NEW QUESTION 116
Which three characteristics make non-profit organizations vulnerable to misuse for terrorist financing?
- A. Having access to a considerable sources of funds
- B. Being listed as government nonprofit organization
- C. Enjoying the public trust
- D. Having a global presence for national and international operations and financial transactions
Answer: A,C,D
NEW QUESTION 117
Your company has an on-premises datacenter.
You plan to publish an app that will recognize a set of individuals by using the Face API. The model is trained.
You need to ensure that all images are processed in the on-premises datacenter.
What should you deploy to host the Face API?
- A. Azure Application Gateway
- B. Azure File Sync
- C. Azure Data Box Edge
- D. a Docker container
Answer: D
Explanation:
A container is a standard unit of software that packages up code and all its dependencies so the application runs quickly and reliably from one computing environment to another. A Docker container image is a lightweight, standalone, executable package of software that includes everything needed to run an application:
code, runtime, system tools, system libraries and settings.
Incorrect Answers:
D: Azure Data Box Edge is an AI-enabled edge computing device with network data transfer capabilities. This article provides you an overview of the Data Box Edge solution, benefits, key capabilities, and the scenarios where you can deploy this device.
Data Box Edge is a Hardware-as-a-service solution. Microsoft ships you a cloud-managed device with a built-in Field Programmable Gate Array (FPGA) that enables accelerated AI-inferencing and has all the capabilities of a storage gateway.
References:
https://www.docker.com/resources/what-container
NEW QUESTION 118
Which three conduits for moving terrorist-related funds do terrorist financing generally favor? Choose 3 answers
- A. Informal financial systems
- B. Banks and/or other formal financial systems
- C. Currency exchange firms
- D. Cash couriers
Answer: A,C,D
NEW QUESTION 119
What was cited by the Wolfsberg Group in its Statement on the Suppression of the Financing of Terrorism as being vulnerable to terrorist financing?
- A. Correspondent banking
- B. Private banking
- C. Alternative remittance
- D. Trade finance
Answer: C
NEW QUESTION 120
Which method to launder money through deposit-taking institutions is closely associated with international trade?
- A. Structuring cash deposits/withdrawals
- B. Investing in legitimate businesses with illicit funds
- C. Using Black Market Peso Exchange
- D. Forming a shell company
Answer: C
NEW QUESTION 121
A popular restaurant in town has begun depositing less cash than it has in prior years. In a review of the customer's accounts, you notice that credit card receipts have increased with no explanation.
The account officer discovers that the restaurant has installed a privately-owned automated teller machine (ATM) onsite and has begun construction of a patio dining area.
Which red flag should trigger additional investigation?
- A. Construction of the new patio dining area
- B. Lower cash deposits
- C. Increased credit card receipts
- D. Privately-owned ATM
Answer: C
NEW QUESTION 122
A customer comes into a financial institution and deposits a large amount of cash. He has never done that before. When asked about the deposit, he indicates he recently sold a used car and received cash.
He does not trust forms of payment and is wary of counterfeit money orders. What should the bank do?
- A. While the explanation appears plausible, the institution should, for a period of time, monitor the account for cash transactions and suspicious activity
- B. The institution should close the account before another issues arise
- C. While the explanation may be plausible, the institute should nonetheless file a Suspicious Transaction Report to protect itself
- D. The bank has received a plausible explanation, so it should do nothing
Answer: A
Explanation:
Explanation/Reference:
NEW QUESTION 123
An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to discuss the legal request with the customer. The account officer intends to discuss points related to the investigation during the meeting.
What should an anti-money laundering specialist recommend?
- A. Discuss all the points being investigated by law enforcement to ensure the correspondent bankis well prepared when approached
- B. Let the account manager's manager know what conversations have taken place with thecustomer and document the account file accordingly
- C. Cancelled the meeting as he has already behaved inappropriately by alerting to theinvestigation
- D. Limit discussions about the investigation with the customer and by satisfied that the accountmanager has provided proper notice to the customer
Answer: D
NEW QUESTION 124
A financial institution in a jurisdiction with currency reporting thresholds is undergoing a branch office compliance review. A large number of currency transactions in amounts exceeding a reporting threshold were discovered without a currency transaction report (CTR) being filed. The transactions were handled by the same teller (cashier). This teller (cashier) was recently hired and had not received anti-money laundering training yet. The branch manager received daily exception reports of all large currency transactions as well as a report of all CTR filings. Which of the following should the compliance officer recommend as the initial action?
- A. The branch manager should be formally reprimanded for failing to ensure proper instruction was given.
- B. The teller's (cashier's) employment should be suspended with pay pending appropriate training.
- C. An audit should be conducted for cash transactions since the last compliance review.
- D. Terminate the teller's (cashier's) employment prior to the expiration of the probation period.
Answer: A
NEW QUESTION 125
When should the anti-money laundering risk assessment be updated?
- A. When instructed to by the Financial Action Task Force
- B. When the board of directors changes
- C. Every two years
- D. After a merger or acquisition
Answer: D
Explanation:
Explanation/Reference: https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/faqs/17.%20Wolfsberg-Risk- Assessment-FAQs-2015.pdf (10)
NEW QUESTION 126
In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?
- A. A designated compliance officer with day-to-day oversight over the AML program
- B. A system of internal policies, procedures and controls
- C. An ongoing employee training program
- D. A description of its OFAC program to address government watch list screening
Answer: D
NEW QUESTION 127
On discovering employees had unintentionally provided assistance to customers who were structuring transactions, an anti-money laundering specialist should recommend
- A. Providing remedial training to these employees.
- B. Transferring these employees to another branch.
- C. Contacting law enforcement to monitor these employees.
- D. Beginning termination procedures for these employees.
Answer: A
NEW QUESTION 128
What are some of the shortcomings in using letters regulatory? Choose 3 answers
- A. They are usually restricted to obtaining evidence that can be used for prosecution and otherjudicial proceedings
- B. They must be approved in advance by the countries judicial authorities
- C. They are based on a pre-existingmutualtreaty between the countries
- D. They can be time-consuming
Answer: B,C,D
NEW QUESTION 129
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