09 September, 2020

Approved ACAMS CAMS Free Exam Questions Online

Actualtests CAMS Questions are updated and all CAMS answers are verified by experts. Once you have completely prepared with our CAMS exam prep kits you will be ready for the real CAMS exam without a problem. We have Rebirth ACAMS CAMS dumps study guide. PASSED CAMS First attempt! Here What I Did.

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Total 190 questions Full Exam Access

Question 1

Upon a routine account review a money laundering investigator identified a number of large round dollar wire transfer deposits into a business account owned by a local auto repair shop. The wire transfers all originated from a country that is a known financial secrecy haven with poor anti-money laundering controls. The investigator concludes there appears to be no legitimate business purpose for the wire transfers and files a suspicious transaction report. The owner of the auto repair shop is popular in the community and is a well-known philanthropist.
To whom should the investigator escalate these concerns?

Audit committee

Chairman of the Board

The owner of the auto repair shop

The bank anti-money laundering officer

Question 2

What is a major economic consequence of money laundering through the use of front companies?

Placing more emphasis on manufacturing

Weakening of the legitimate private sector

Creating a more competitive pricing environment

Aligning management principles between criminal enterprises and legitimate businesses

Question 3

Why do governments and multi-national bodies impose economic sanctions?

To impede kleptocracy

To enforce foreign policy objectives

To combat an imminent terrorist threat

To prevent fraudulent international trade transactions

Question 4

Which factor should a bank consider before sharing information about a customer with its broker-dealer affiliate in the case of an investigation?

Whether the broker-dealer affiliate can rely on the due diligence done by the bank

Whether there is a mutual legal assistance treaty in place between the two institutions

Whether privacy and data protection rules permit the bank to share the information with the affiliate

Whether both institutions have an account or are in the process of opening an account for the customer

Question 5

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?

Allow for freezing assets of non-profit organizations

Require all non-profit organizations to register with the country’s financial intelligence unit

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

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

Question 6

A new compliance officer is reviewing the bank’s anti-money laundering program and notices that the risk assessment was completed six months ago. Since that time, the bank acquired another financial institution, re-named the internal records group, and streamlined cash handling procedures.
Which factor causes the compliance officer to update the bank’s risk assessment?

The bank acquired another institution

The internal records group has been re-named

The cash handling procedures were streamlined

The risk assessment was completed six months ago

Question 7

A bank receives an anonymous tip from an employee about another employee through its confidential hotline.
Which activity warrants further review?

A mortgage officer works with home loan applicants to resolve adverse credit issues

An employee in bookkeeping accepts funds transfer requests from customers via telephone

An employee in accounting works with customers to help understand how to reduce service charges

A teller distributes bank brochures to customers who regularly conduct cash transactions below reporting limits

Question 8

What are the regulatory risks to a bank employee who willfully violates anti-money laundering laws?

Investigation and reputational damage

Fines and suspension from the industry

Criminal investigation and imprisonment

Enforcement actions including fines against the financial institution

Question 9

A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party. What are two red flags that indicate money laundering? (Choose two.)

Customer redeeming all remaining chips

Playing various games before cashing out

Bringing $15,000 worth of chips into the casino

Requesting a wire transfer to an unrelated third party

Question 10

A compliance officer was recently reviewing transactional data for an international charity and found transactions that present a higher risk. Which reason is cause for terminating the banking relationship?

The charity has had a high a high turnover rate of official positions

The charity has several incoming international funds transfers

The flow of funds both in and out are complex and hard to trace

The charity is headquartered in a country on the Office of Foreign Assets Control list

Question 11

Which method to launder money through deposit-taking institutions is closely associated with international trade?

Forming a shell company

Using Black Market Peso Exchange

Structuring cash deposits withdrawals

Investing in legitimate business with illicit funds

Question 12

A compliance officer provides an overview of the bank’s anti-money laundering program to a group of new tellers during employee orientation. Which training element should be delivered to this audience?

Results of recent risk assessments

Large cash transaction reporting procedures

The financial institution’s surprise cash audit policy

Past check fraud losses incurred by the financial institution

Question 13

Which method is used to launder money in casinos?

Purchase chips with cash and play at a table

Purchase chips with cash and redeem for cash

Purchase chips with cash and redeem for a check

Purchase chips with cash and sell to another person for cash

Question 14

The compliance officer at a crowd funding website is in charge of monitoring new crowd funding projects. Recently, the number of crowd funding projects has significantly increased. Which red flag indicates the highest anti-money laundering risk?

Those with the largest number of donors

Projects that get funding within days of their start

Projects with the highest monetary success threshold

Projects that start and close and are fully funded within a very short period

Question 15

Which two individuals are ordinarily beneficial owners of a private banking account according to the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

Those two are authorized signers on the account

Those who have legal title to a controlling share interest in the customer

Those who generally have ultimate control through ownership or other means over the funds in the account

Those who are the ultimate source of funds for the account and whose source of wealth should be subject to due diligence

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Total 190 questions Full Exam Access