FREE PDF QUIZ ACAMS - PERFECT CAMS - CERTIFIED ANTI-MONEY LAUNDERING SPECIALISTS RELIABLE EXAM TUTORIAL

Free PDF Quiz ACAMS - Perfect CAMS - Certified Anti-Money Laundering Specialists Reliable Exam Tutorial

Free PDF Quiz ACAMS - Perfect CAMS - Certified Anti-Money Laundering Specialists Reliable Exam Tutorial

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The CAMS certification is highly valued by employers in the financial industry, including banks, insurance companies, and investment firms. Certified Anti-Money Laundering Specialists certification demonstrates a commitment to the highest standards of AML compliance and highlights the holder's ability to identify and mitigate the risks associated with money laundering. The CAMS credential is recognized by regulatory bodies worldwide, including the Financial Crimes Enforcement Network (FinCEN) in the United States, the Financial Action Task Force (FATF) and the Office of Foreign Assets Control (OFAC).

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q356-Q361):

NEW QUESTION # 356
Which method is used to launder money in casinos?

  • A. Purchase chips with cash and redeem for cash
  • B. Purchase chips with cash and sell to another person for cash
  • C. Purchase chips with cash and redeem for a check
  • D. Purchase chips with cash and play at a table

Answer: C


NEW QUESTION # 357
Which practices are dealers in antiques, precious metals, precious stones, jewelry, and art advised to follow to reduce the element of money laundering risk? Choose 3 answers

  • A. Insist all vendors submit an appropriate license issued by enforcement agencies authorizing the sale
  • B. Insist on all vendors signing a declaration that the item placed by them for sale was not stolen or acquired through illegitimate means
  • C. Verify the identities of all new vendors and customers and conduct due diligence on them
  • D. Avoid accepting cash payment from the buyers

Answer: B,C,D


NEW QUESTION # 358
Which response represents a high-level principle for FATF-Style Regional Bodies (FSRB)?

  • A. Dependent with different experiences to strengthen the overall effort
  • B. Membership, mission, financial procedures, and budget
  • C. Access to documents and assistance with meetings
  • D. Reciprocity for effective participation and recognition of work

Answer: D


NEW QUESTION # 359
Which two statements about the Wolfsberg Group are true?

  • A. It focuses primarily on Know Your Customer, AML and CTF guidance
  • B. It is composed of representatives of financial intelligence units from around the world
  • C. It based its original guidancearoundcombating the laundering ofproceedsof narcoticstrafficking
  • D. It has no power to impose itsprinciples/guidance

Answer: A,D


NEW QUESTION # 360
What is true regarding disclosure to a law enforcement agency by a financial institution of the supporting documentation for a suspicious transaction report?

  • A. The financial institution may notify the account holder of the request
  • B. A copy of all the documentation released must also be provided to the account holder's attorney
  • C. Confirm that the request originated from a representative of the law enforcement agency
  • D. Documentation must be provided as quickly as possible using email

Answer: C

Explanation:
Before disclosing any supporting documentation for a suspicious transaction report (STR) to a law enforcement agency, the financial institution should confirm that the request is legitimate and authorized by verifying the identity and credentials of the requester1. This is to prevent unauthorized access or misuse of the confidential information by impostors or fraudsters. The other options are not true, as they may either compromise the security, integrity, or timeliness of the disclosure, or violate the confidentiality or privacy rights of the customer.
References:
* ACAMS, CAMS Examination Study Guide, 6th Edition, Chapter 4, p. 117
* FATF Guidance: The Role of Hawala and Other Similar Service Providers in Money Laundering and Terrorist Financing, October 20132, p. 20
* Basel Committee on Banking Supervision, Sound management of risks related to money laundering and financing of terrorism, June 20173, p. 11 Reference: https://www.sec.gov/about/offices/ocie/aml2007/fin-2007-g003.pdf


NEW QUESTION # 361
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