[Jan 14, 2022] Pass ACAMS CAMS Exam Info and Free Practice Test
CAMS Exam Dumps PDF Updated Dump from Prep4sures Guaranteed Success
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.
- Provide three professional references.
- Submit supporting documents.
- Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
Difficulty in writing CAMS Exam
This exam is very difficult especially for those who have not a securities compliance or regulatory background and don’t know how to handle AML investigations, money laundering schemes, various international AML regulations and setting up an AML compliance program. Candidates can only get good grades in the CAMS exam by dedication, hard work, and most accurate preparation material. There are many online platforms which are providing CAMS exam preparation material but they are not verified by experts. So, candidates have to choose a platform which gives them the best and authentic CAMS dumps which can make a good impact on your final result. There are many people rely on such kind of platforms but in the end, they are mostly getting poor grades. Candidates don’t have to worry about this as Prep4sures is only one of the best platform that provides the best CAMS preparation material. Our CAMS dumps consist of all the topics and the questions that will be asked in the real exam and the best part is that we provide CAMS dumps in PDF format that you can easily read it offline on smartphones and other electronic accessories such as laptops, desktops, and tablets. Prep4sures also contain braindumps which will be really helpful in making notes.
NEW QUESTION 108
Which primary international authoritative body designates sanctions?
- A. Financial Action Task Force (FATF)
- B. International Monetary Fund (IMF)
- C. United Nations (UN)
- D. Organization of Economic Co-operation and Development (OECD)
Answer: C
NEW QUESTION 109
An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the following item s should be delivered?
- A. Monthly statements and transaction activities for that individual since 2004.
- B. All wire transfers for that individual since 2004.
- C. Signature cards from accounts opened by that individual since 2004.
- D. All security trading activities for that individual since 2004.
Answer: A,B,D
NEW QUESTION 110
What are two reasons physical certificates present a money laundering risk to broker-dealers? (Choose two.)
- A. There is little information readily available to the broker confirming the source of the funds
- B. Physical certificates may be provided to nominees for deposit or settled in off-market transactions
- C. Physical certificates do not expire and may be held by the owner for perpetuity
- D. The trade information on a physical certificate can be easily altered
Answer: A,B
NEW QUESTION 111
An anti-money laundering specialist has been hired by an independently-owned community bank to implement an anti-money laundering compliance program. This bank has recently seen a dramatic increase in the number of international electronic fund transfers from its commercial clients. The first thing the anti-money laundering specialist should do is
- A. develop a new account questionnaire to quantify the level of risk for new international accounts.
- B. conduct a risk assessment of the bank's international electronic fund transfer activity.
- C. close all accounts which have had a dramatic increase in international electronic fund transfer activity.
- D. file a suspicious transaction report on international customers receiving large electronic fund transfers.
Answer: A
NEW QUESTION 112
Which of the following reflect money laundering risk indicators in relation to a securities account?
1. A high level of activity in that securities account immediately followed by a high volume of securities transactions.
2. Frequent wire transfers into an account immediately followed by debit card transactions.
3. Frequent wire transfers into an account immediately followed by checks (cheques) or other payment instruments drawn on the account.
- A. 1 and 2 only
- B. 1 and 3 only
- C. 2 and 3 only
- D. 1, 2, and 3
Answer: C
NEW QUESTION 113
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. Limit discussions about the investigation with the customer and bE satisfied that the account manager has provided proper notice to the customer
- B. Cancelled the meeting as he has already behaved inappropriately by alerting to the investigation
- C. Discuss all the points being investigated by law enforcement to ensure the correspondent bank is well prepared when approached
- D. Let the account manager's manager know what conversations have taken place with the customer and document the account file accordingly
Answer: B
NEW QUESTION 114
What are some of the methods for sharing information and cooperating on an international basis? Choose 3 answers
- A. Regulatory sharing through Supervisory Channels
- B. International Money Laundering Information Network
- C. Mutual Assistance Legal Treaties
- D. Issuance subpoenas
Answer: A,B,C
NEW QUESTION 115
When an institution files an STR with regard to a particular account, what steps should the institution take visa account?
- A. The institution should close the account due to the obvious risk it represents
- B. The institution should consult its counsel and AML compliance officer and determine whetherclosing the account is in accord with the institution's procedures
- C. The institution should keep the account open due to the need to continue to monitor theaccount
- D. The institution should not close the account due to the risk of tipping off the customer andupsetting the criminal investigation
Answer: B
NEW QUESTION 116
How can a financial institution verify the nature and purpose of a business and its legitimacy? Choose 3 answers
- A. By undertaking a company search or other commercial inquires to see that the institution has not been, or is not in the process of being dissolved of terminated
- B. By using an independent information verification process, such as by accessing public and private databases
- C. By reviewing the company's website
- D. By reviewing a copy of the corporation's latest audited reports and accounts
Answer: A,B,D
NEW QUESTION 117
A bank customer operates a fuel station as a sole proprietorship. The customer places deposits and other credits in a business account. The customer routinely transfers money from the business account to a brokerage account where he invests in money market securities. The customer also routinely makes monthly transfers to a credit card and line of credit to pay off balances. The volume of activity flowing through the business account has doubled in the past 3 months. An internal investigator reviews business account statements and credit card activity for the past 3 months, scans media articles about the customer, and interviews the account officer about the customer and account activity. This internal investigation did not provide an explanation for the increased activity1. Which of the following should the anti-money laundering specialist recommend to the internal investigator?
- A. No additional steps are necessary because this was a thorough review of the activity.
- B. Review activity in all related customer accounts in the past year.
- C. Concentrate on trades made in the brokerage account.
- D. Analyze account activity for selected accounts since the accounts were opened.
Answer: D
NEW QUESTION 118
A bank sells reloadable open-loop prepaid cards to both customers and non-customers.
What is a red flag associated with these cards that may indicate money laundering?
- A. A non-bank customer consistently uses the bank to obtain cash advances using a prepaid card.
- B. A non-bank customer regularly loads large amounts of cash onto several prepaid cards.
- C. A bank customer routinely purchases five prepaid cards in small even-dollar amounts on a monthly basis.
- D. A bank customer historically purchases several prepaid cards near year-end.
Answer: B
NEW QUESTION 119
A bank maintains a relationship with a customer who owns a small bakery business.
Which customer action indicates potential money laundering?
- A. The customer recently wired a large amount to a foreign jurisdiction where family is located
- B. The customer continually makes regular cash deposits
- C. The customer purchased property insurance that is twice the value of the business
- D. The customer has multiple bank accounts at several locations
Answer: A
NEW QUESTION 120
Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?
- A. Conducting large value transactions
- B. Conducting a large volume of transactions
- C. Providing continuous worldwide access
- D. Conducting anonymous transactions
Answer: C
NEW QUESTION 121
Which three definitions of money laundering are included in the expanded definition of the European Union Fourth Directive? (Choose three.)
- A. The transfer of cash in excess of 15,000 euros across country borders regardless of whatever the cash was derived from criminal activity
- B. The acquisition or use of property knowing, when it was received, that it was derived from criminal activity
- C. The conversion or transfer of property with knowledge that it is derived from criminal activity
- D. The creation of shell companies to disguise the identity of its owners
- E. Concealing or disguising the nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that the property is derived from criminal activity
Answer: B,C,E
NEW QUESTION 122
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 on all vendors signing a declaration that the item placed by them for sale was not stolen or acquired through illegitimate means
- B. Avoid accepting cash payment from the buyers
- C. Verify the identities of all new vendors and customers and conduct due diligence on them
- D. Insist all vendors submit an appropriate license issued by enforcement agencies authorizing the sale
Answer: A,B,C
NEW QUESTION 123
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How to study the CAMS Exam
Prep4sures expert team recommend you to prepare some notes on these topics along with it don’t forget to practice Certified Anti-Money Laundering Specialist CAMS Dumps which been written by our expert team, Both these will help you a lot to clear this exam with good marks.
- Provided a scenario, Determine when and how to implement necessary program changes, the process to access the money laundering and internal factors that should be escalated to management
- Provided a Scenario about trust, company service providers, emerging risks related to technology, banks, insurance companies, broker-dealers, investment advisors, capital markets, gaming, dealers of precious metal dealers, dealers of real estate, bureau de change, money services business, lawyers, notaries, accountants, auditors, financial transactions that offer anonymity, lack of transparency of ownership, moving money, involving commercial transactions and identify the red flags that indicate money laundering or financing terrorism.
- Determine the key aspects of the FATF, BASEL Committee Customer Due Diligence Principles, EU Directives on money and Wolfsberg Groups AML Principles as they relate to private/correspondent banking, USA PATRIOT Act and OFAC sanctions that have extraterritorial reach
- Determine the economic and social consequences of money laundering
- Provided a scenario, Determine the key aspects of delivering targeted training for different audiences and job functions, components of an AML training program, roles senior management, roles senior management, how customer onboarding should be implemented for the institution, area to increase the efficiency and accuracy of automated AML tools
- Determine methods to finance terrorism and to launder money used in banks, insurance companies, broker-dealers, investment advisors, capital markets, gaming, dealers of precious metal/high-value items, real estate, bureau de change, the business of money services, lawyers, notaries, accountants, and auditors.
- Determine the risks to individuals or institutions for violation of AML laws.
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