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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q93-Q98):
NEW QUESTION # 93
Under the Egmont Group Principles, information exchange among financial intelligence units (FIUs) should be conducted:
- A. Freely, spontaneously, and upon request, on the basis of reciprocity.
- B. Without the expectation of reciprocity on how the information will be used.
- C. With set limits on the amount of financial and administrative information provided.
- D. Only if the status of the foreign FIU is related to law enforcement.
Answer: A
NEW QUESTION # 94
Which scenario indicates potential money laundering activity by a lawyer?
- A. A lawyer's trust account receives a large-value wire transfer from a regulated insurance company and immediately transfers the same amount of funds received to the beneficiary's bank account located in a low-risk country.
- B. A lawyer's trust account regularly receives wire transfers from unknown remitters from a higher risk country and immediately transfers the same amount of funds received to a known beneficiary's account in a low-risk country.
- C. A lawyer's trust account receives a large wire transfer deposit from a client that wanted to purchase a piece of property and then transfers the same amount to the property seller's lawyer's trust account.
- D. A lawyer located in a higher risk country deposits their firm's bank draft issued from their trust account to another lawyer's trust account located in a low-risk country for legal services rendered.
Answer: B
NEW QUESTION # 95
The owner of a real estate investment company deposits multiple cashier's checks that were bought using cash over a three-month period, from the sale of two apartments. This account also receives several electronic transfers from other financial institutions for US$10,000 each.
What activity is considered suspicious of money laundering?
- A. Using cash to buy multiple cashier's checks over a period of time
- B. Using cashier's checks in the transactions with the real estate investment company's account
- C. Receiving electronic transfers for US$10,000 amounts from other financial institutions
- D. Performing operations with real estate investment companies
Answer: A
NEW QUESTION # 96
Which key metric would provide the most valuable data to the senior management of a financial institution about the effectiveness of its AML controls?
- A. The number of high-risk customers onboarded each month
- B. The ratio of true positives to false positives generated by the automated monitoring system
- C. The number of clients exited for commercial reasons
- D. The number of money laundering alerts generated by the watchlist screening system
Answer: B
NEW QUESTION # 97
A recruitment manager in the human resources department of a bank has shortlisted a candidate for the position of relationship manager in its private banking division. The compliance policy of the bank stipulates that proper background checks on new employees must be completed by the recruiting team to protect the bank against potential risks, including fraud and money laundering.
Which resources would be most useful for identifying any potential negative information regarding the shortlisted candidate? (Select Three.)
- A. Criminal history searches
- B. Personal resume
- C. Past employment records
- D. Internet and public media searches
- E. Personal references from close associates
Answer: A
NEW QUESTION # 98
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