CAMS Reliable Test Labs - ACAMS Certified Anti-Money Laundering Specialists

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The CAMS exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a professional organization dedicated to promoting the fight against financial crime. CAMS exam consists of multiple-choice questions covering four main areas: AML regulations and compliance, money laundering methods and techniques, conducting AML investigations, and managing AML risks. Candidates must achieve a passing score of 75% or higher to earn the CAMS certification.

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The validation of expertise, more career opportunities, salary enhancement, instant promotion, and membership of ACAMS certified professional community. In this way, the Certified Anti-Money Laundering Specialists (CAMS) can not only validate their skills and knowledge level but also put their careers on the right track. By doing this you can achieve your career objectives.

The CAMS exam covers a wide range of topics related to AML, including risk assessment, customer due diligence, transaction monitoring, and reporting. CAMS exam is divided into six sections, each of which focuses on a different area of AML. The sections include: (1) Risk Assessment; (2) Customer Due Diligence; (3) Customer Risk Profiling; (4) Transactions and Monitoring; (5) AML Compliance Programs; and (6) Conducting and Responding to Investigations. CAMS exam is computer-based and consists of 120 multiple-choice questions, which must be completed within a four-hour time limit.

CAMS Certified Anti-Money Laundering Specialist Exam

CAMS Certified Anti-Money Laundering Specialist Exam is designed by the Association of certified anti-money laundering specialist (ACAMS) is a global membership organization that provides training and certification, of anti-money laundering professionals worldwide. ACAMS is supporting financial AML professionals through knowledge sharing and skills development. CAMS exam tests candidates basic knowledge on setting up an AML compliance program, money laundering schemes, various international AML regulations, and how to handle AML investigations. CAMS exam is internationally recognized and a good designation for those who are looking to work in the AML field.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q410-Q415):

NEW QUESTION # 410
A well-developed anti-money laundering compliance program is unlikely to achieve institutional goals without

A. Endorsement by a competent authority.
B. Screening all staff.
C. Verification of account owners.
D. Training appropriate employees.

Answer: A

NEW QUESTION # 411
A customer opens a corporate account with a broker-dealer on behalf of several beneficial owners, with a stated long-term investment goal. The customer deposits $25.5 million into the account and three days later transfers $5 million to an overseas bank. Shortly thereafter, the customer begins making numerous purchases of pesos. The compliance officer receives a query regarding the movement of funds. Within a month of account opening, the customer depletes the account.
Which two red flags should prompt the firm's compliance officer to take action? (Choose two.)

A. The customer's stated investment goal is not reflective of account activity
B. The new account deposit is $25.5 million
C. A corporate account is opened on behalf of several beneficial owners
D. The compliance officer receives the query regarding the movement of funds

Answer: A,D

NEW QUESTION # 412
The branch manager notices that a number of customers come in weekly and always use the same teller to process their deposits. The manager notices that the customers and the teller, who are from the same ethnic group, are speaking in a foreign language and every once in a while the customers from local ethnic restaurants will bring the teller lunch. The commercial customers that visit the teller generally deposit the same amount of cash each time they come in.
How should the branch manager respond to this activity?

A. Transfer the teller to another branch
B. Encourage the teller to bring in more business from the ethnic community
C. Suggest to the teller to send the customers to other tellers to avoid the opportunity for collusion
D. Conduct further investigation before taking any other action

Answer: D

NEW QUESTION # 413
Which safeguard is in place for Financial Intelligence Units (FIUs) to share information securely according to Egmont?

A. Information sharing is conducted according to processes contained in Memoranda of Understanding.
B. Intelligence is shared via messaging applications.
C. Investigators are allowed to request information from a foreign FIU directly.
D. A computer with access to the Egmont Secure Web is accessible to all members of the FIU.

Answer: D

Explanation:
Reference: https://www.elibrary.imf.org/view/books/069/02365-9781589063495-en/ap01.xml

NEW QUESTION # 414
A compliance officer identifies a potentially significant risk in a popular financial product. Further investigation reveals there is no mitigating control.
Which course of action should the compliance officer take?

A. Launch a long-term project to remediate the control deficiency
B. Immediately cease providing the product and only offer it after effective permanent mitigation is implemented
C. Note the risk and address it during the next round of policy and procedure review
D. Implement a temporary mitigation plan that enables effective management of the risk until a permanent plan can be developed

Answer: D

NEW QUESTION # 415
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