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Exam Sample CAMS Online - Reliable CAMS Test Materials

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The Certified Anti-Money Laundering Specialists (CAMS) Certification Exam is a globally recognized certification that is designed to equip professionals with the knowledge and skills required to detect and prevent money laundering activities. Certified Anti-Money Laundering Specialists certification is offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), which is the largest international membership organization for anti-money laundering professionals. The CAMS certification is highly respected and recognized by regulatory bodies, financial institutions, and law enforcement agencies around the world.

To be eligible for the ACAMS CAMS exam, candidates must meet certain criteria, including a minimum of 40 hours of AML training, two years of relevant work experience, and a clean criminal record. After passing the exam, candidates must complete continuing education requirements to maintain their certification and stay up-to-date with the latest AML regulations and compliance procedures.

The CAMS Certification Exam is highly regarded by employers and regulatory agencies worldwide, as it demonstrates the candidate’s commitment to the highest standards of AML and financial crime prevention. CAMS exam covers four key areas of AML and financial crime prevention: risk assessment, customer due diligence, transaction monitoring, and investigations. Candidates must pass a 120-question multiple-choice exam within a four-hour time limit, and they must score at least 75% to pass. The CAMS certification is valid for three years, and continuing education is required to maintain the certification.

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Reliable CAMS Test Materials, CAMS Pass Test

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q253-Q258):

NEW QUESTION # 253
A financial institution receives a regulatory enforcement action because of deficiencies in its anti-money laundering program.
Which action should the board of directors take?

A. Terminate the compliance officer and staff
B. Hire an attorney with instructions to protest the enforcement action
C. Purchase and install a new suspicious activity monitoring system
D. Instruct the compliance officer to develop a plan to remediate the institution's anti-money laundering program

Answer: D

Explanation:
Explanation/Reference:

NEW QUESTION # 254
What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers

A. The type and size of the business the customer runs
B. The country or location where the customer is from or does business
C. The legal structure of the customer's business
D. The previous financial institutions where the customer has banked

Answer: B,C,D

NEW QUESTION # 255
Combating the Financing of Terrorism (CFT)]
A bank compliance officer has implemented enhanced monitoring rules that have identified some unusual activity that may be indicative of human trafficking.
Which red flag should prompt additional transactional review?

A. Cash deposits that occur in cities where the customer resides and conducts business
B. Wire transfer activity from countries with significant migrant populations
C. Cash deposits that occur in cities where the customer does not reside or conduct business
D. Cash deposits that occur in cities where the customer does not reside or conduct business followed by same-day withdrawals

Answer: D

Explanation:
A customer's account appears to function as a funnel account whereby cash deposits occur in cities/states where the customer does not reside or conduct business. Frequently, in the case of funnel accounts, the funds are quickly withdrawn (same day) after the deposits are made

NEW QUESTION # 256
A SAR/STR should be filed when the accountable institution identifies that:

A. an employee is not clearing alerts in a timely manner.
B. a customer makes a cash deposit in round dollars.
C. an alert is generated by a transaction monitoring system.
D. cash transactions have values which avoid reporting thresholds.

Answer: C

Explanation:
Reference:
https://www.fdic.gov/regulations/examinations/supervisory/insights/siwin07/article03_connecting.html

NEW QUESTION # 257
In relationship to life insurance business, the third European Directive states that Member States may allow the identity verification of the beneficiary under the policy after the business relationship has been established, but before which events?

A. At or before the time of payout or before the beneficiary intends to exercise rights vested under the policy
B. At or before the policy is issued to the beneficiary by the insurance company
C. At or before a premium payment has been accepted for the policy purchased
D. At or before 30 days of the relationship being established under the policy

Answer: A

Explanation:
According to the third European Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing1, Member States may allow the identity verification of the beneficiary under the policy to be carried out at or before the time of payout or before the beneficiary intends to exercise rights vested under the policy, provided that the following conditions are met:
the beneficiary is identified as a natural or legal person or a legal arrangement, and the verification of the identity is not possible earlier, due to the nature of the product or the transaction; there is a low risk of money laundering or terrorist financing, taking into account the type of policy, the product features, the premium amount, and the distribution channel; the Member States adopt appropriate risk-sensitive measures to prevent the misuse of the policy during the life of the relationship.
This provision is intended to accommodate the specificities of the life insurance sector, where the beneficiary may not be known at the time of the conclusion of the contract, or may change during the life of the policy. However, the Directive also requires that the identity verification of the beneficiary is carried out as soon as possible after the establishment of the business relationship, and that the insurance undertaking applies enhanced customer due diligence measures when the beneficiary is a politically exposed person.
Reference:
1: Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (OJ L 309, 25.11.2005, p. 15) 2

NEW QUESTION # 258
......

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