ACAMS CAMS LATEST EXAM DURATION & NEW CAMS TEST QUESTIONS

ACAMS CAMS Latest Exam Duration & New CAMS Test Questions

ACAMS CAMS Latest Exam Duration & New CAMS Test Questions

Blog Article

Tags: CAMS Latest Exam Duration, New CAMS Test Questions, CAMS Reliable Exam Registration, CAMS Valid Exam Questions, CAMS Dumps

To some extent, to pass the CAMS exam means that you can get a good job. The CAMS exam materials you master will be applied to your job. The possibility to enter in big and famous companies is also raised because they need outstanding talents to serve for them. Our CAMS Test Prep is compiled elaborately and will help the client a lot. To get a better and full understanding of our CAMS quiz torrent, please read the introduction of the features and the advantages of our product as follow.

The CAMS certification exam is designed to test the knowledge and skills of AML professionals in various areas, including money laundering risks and methods, regulatory frameworks, customer due diligence, and transaction monitoring. CAMS Exam consists of 120 multiple-choice questions and must be completed within four hours. The passing score for the CAMS certification exam is 75%.

>> ACAMS CAMS Latest Exam Duration <<

ACAMS Latest Exam Duration CAMS - Realistic Certified Anti-Money Laundering Specialists Latest Exam Duration Pass Guaranteed

In order to cater to different needs of our customers, we have three versions for CAMS exam materials. Each version has its own feature, and you can choose the most suitable one according to your own needs. CAMS PDF version supports print, if you like hard one, you can choose this version and take notes on it. CAMS Online Test engine supports all electronic devices and you can also practice offline. CAMS Soft test engine can stimulate the real exam environment, and you can install this version in more than 200 computers. Just have a look, there is always a version is for you.

Recertification

Individuals must get recertified every three years if they wish to maintain their CAMS Certification. To get recertified, individuals must have maintained their ACAMS membership, provide proof of having continued their professional education, and submit an online application along with a recertification fee.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q337-Q342):

NEW QUESTION # 337
During an ongoing investigation into a client's activities by a competent authority, a compliance officer should

  • A. Communicate only in writing with regulatory and law enforcement authorities in line with applicable local laws.
  • B. Ensure communication with regulatory and law enforcement authorities is conducted only through senior management.
  • C. Communicate with regulatory and law enforcement authorities in line with applicable local laws.
  • D. Limit communication with regulatory and law enforcement authorities to the absolute minimum.

Answer: C

Explanation:
A compliance officer should communicate with regulatory and law enforcement authorities in line with applicable local laws during an ongoing investigation into a client's activities by a competent authority. This is because the compliance officer has a duty to cooperate with the authorities and provide relevant information and documents as requested, while also protecting the confidentiality and privacy of the client and the institution. The compliance officer should not restrict the communication to senior management only, as this could hinder the investigation or create a perception of obstruction. The compliance officer should not communicate only in writing, as this could limit the effectiveness and timeliness of the communication. The compliance officer should not limit the communication to the absolute minimum, as this could imply a lack of cooperation or transparency.
References: =
CAMS Certification Package - 6th Edition | ACAMS1
CAMS Certifications: How to Get CAMS Certified | ACAMS2
ACAMS CAMS Certification Video Training Course - Exam-Labs3
Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition)4


NEW QUESTION # 338
A corporate services provider in a European Union (EU) country has a prospect from an African country who deals in oil and gas. The prospect intends to develop an oil terminal in his home country with a $75 million dollar loan secured by a third party, which is a trust formed in a Caribbean island with a holding company based in a European secrecy haven. A young lady is presented as an ultimate beneficial owner who has gained her wealth through a fitness studio in her home country.
What are two red flags that could indicate money laundering or financing terrorism? (Choose two.)

  • A. The guarantor company's ownership structure is overly complex
  • B. The ultimate beneficial owner is young lady who has gained her wealth through a small business
  • C. The prospect wishes to have a corporate structure with a holding company in EU country
  • D. A loan worth $75 million with a third-party guarantor

Answer: A,B

Explanation:
According to the ACAMS study guide1, some of the common red flags for money laundering or financing terrorism are:
Customers who provide insufficient or suspicious information, such as unusual or unverifiable identification documents, different taxpayer identification numbers, or vague or inconsistent information about their business or source of funds.
Transactions that have unusual features, such as large cash payments, unexplained payments from a third party, use of multiple or foreign accounts, complex or illogical transactions, or transactions that are inconsistent with the customer's profile or expected behavior.
Geographic concerns, such as transactions involving high-risk jurisdictions, offshore financial centers, secrecy havens, or countries subject to sanctions or embargoes.
Ultimate beneficial ownership that is unclear, such as customers who use shell companies, trusts, or other legal entities to obscure their identity or the identity of the true owners or controllers of the funds or assets.
In this scenario, two red flags that could indicate money laundering or financing terrorism are:
B: The guarantor company's ownership structure is overly complex. This could be an attempt to hide the true source or destination of the funds, or to evade regulatory or law enforcement scrutiny. The use of a trust formed in a Caribbean island and a holding company based in a European secrecy haven could also indicate geographic concerns, as these jurisdictions are known for their low transparency and high confidentiality.
D: The ultimate beneficial owner is a young lady who has gained her wealth through a small business.
This could be a case of false or misleading information, as the source of funds is not commensurate with the size or nature of the transaction. The fitness studio business could be a front or a cover for illicit activities, or the young lady could be a nominee or a straw man for the real owner or beneficiary.
References: = 1 ACAMS. (2020). Study Guide for the Certification Examination: Sixth Edition. Miami, FL:
ACAMS.


NEW QUESTION # 339
The board of directors receives notice from the primary regulator of the bank that potentially suspicious activity has been identified and the bank president appears to be involved. The Board asks the compliance officer for advice.
Which action should the compliance officer take when informed?

  • A. Inform the bank's legal counsel and follow their instructions
  • B. Destroy all records relating to the matter
  • C. Inform the president of the regulator's suspicions and ask for his advice
  • D. Insist on the president's immediate resignation

Answer: A

Explanation:
The compliance officer should inform the bank's legal counsel and follow their instructions when informed of the regulator's notice. This is the most prudent and professional course of action, as it ensures that the compliance officer acts in accordance with the bank's policies and procedures, as well as the applicable laws and regulations. The compliance officer should also document the communication and cooperation with the legal counsel and the regulator, and preserve all relevant records and evidence relating to the matter. The compliance officer should not take any action that could compromise the integrity or confidentiality of the investigation, such as destroying records, insisting on the president's resignation, or informing the president of the suspicions.
References:
ACAMS CAMS Certification Study Guide, 6th Edition, page 47
ACAMS CAMS Certification Exam Outline, 6th Edition, Domain 2, Task 2.4
ACAMS CAMS Certification Video Training Course, Module 2, Lesson 2.4
Exam CAMS: Certified Anti-Money Laundering Specialist (the 6th edition), Question 337


NEW QUESTION # 340
A customer has held an account at a bank and has lived locally for over 25 years. Historically he has come into the bank monthly to deposit a $1,500 retirement check from the company where he worked. He is well known at the bank and often brings the staff cookies. Over the past four months, he has come into the bank every Monday, Wednesday, and Thursday to make $3,000 cash deposits into his account. A review of his account shows that an $8,500 check made out to cash clears his account each week. The bank has decided to file a suspicious transaction report (STR).
What is the important fact to include in the STR?

  • A. The recent change in the timing of deposits and withdrawals in the account
  • B. The customer's work history and the amount of his monthly retirement check
  • C. The fact that the customer has lived in the area and has banked at this bank for 25 years
  • D. The fact that the account holder is well known to the bank staff

Answer: B


NEW QUESTION # 341
What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee's paper on Customer Due Diligence for Banks?

  • A. Determining that a local figure is a PEP
  • B. Reviewing when a relationship is established
  • C. Reviewing relationships at account opening and on a periodic basis
  • D. Requiring that the customer discloses that they are a PEP or an associate of a PEP

Answer: C


NEW QUESTION # 342
......

New CAMS Test Questions: https://www.free4dump.com/CAMS-braindumps-torrent.html

Report this page