2023 Updated ACAMS CAMS Dumps PDF - Want To Pass CAMS Fast
CAMS Practice Exam Dumps - 99% Marks In ACAMS Exam
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.
- Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
- Submit supporting documents.
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 exam 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 Exam4Docs is only one of the best platform that provides the best CAMS preparation material. Our CAMS exam 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 exam dumps in PDF format that you can easily read it offline on smartphones and other electronic accessories such as laptops, desktops, and tablets. Exam4Docs also contain braindumps which will be really helpful in making notes.
ACAMS CAMS Exam Syllabus Topics:
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NEW QUESTION 182
A company service provider in Country A sets up a corporate structure for a client from Country B, which is known for corruption. The corporate structure includes a holding company in Country A with a bank account in one of the international banks located there.
During on-boarding, the client's wealth was estimated at $7 million. Shortly thereafter, the client's father became president of Country
B. During a routine client review two years later, it was identified that client's wealth had grown to $510 million.
What are two red flags that indicate money laundering or financial terrorism? (Choose two.)
- A. The client is a family member of a PEP from a country known for corruption.
- B. The holding company is in Country A with a bank account in one of the international banks.
- C. The substantial growth in wealth during a short period of time.
- D. The client is from a country known for corruption.
Answer: A,C
NEW QUESTION 183
The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geographic area in the United States. The customers are immigrants from Country A and the majority of the funds are remitted to Country A.
In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country
B. Each cash transaction always totals exactly
$8,000.
What should alert the agent to possible money laundering activity by the two customers?
- A. It is unusual for customers to remit to Country B
- B. They have been coming in three times a week
- C. Each of their transactions is just below the cash reporting threshold
- D. They remit funds to the same person
Answer: D
NEW QUESTION 184
A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan.
A law enforcement officer calls the anti-money laundering officer to discuss the suspicious transaction report.
Which of the following is the anti-money laundering officer legally permitted to do?
- A. Provide copies of the customer's loan documents.
- B. Send the deposit documents referenced in the suspicious transaction report.
- C. Discuss any aspects of the reported activity.
- D. Explain the customer's loan payment history.
Answer: A,B
NEW QUESTION 185
A data scientist deploys a deep learning model on an Fsv2 virtual machine.
Data analysis is slow.
You need to recommend which virtual machine series the data scientist must use to ensure that data analysis occurs as quickly as possible.
Which series should you recommend?
- A. ND
- B. B
- C. DC
- D. Ev3
Answer: A
Explanation:
The N-series is a family of Azure Virtual Machines with GPU capabilities. GPUs are ideal for compute and graphics-intensive workloads, helping customers to fuel innovation through scenarios like high-end remote visualisation, deep learning and predictive analytics.
The ND-series is focused on training and inference scenarios for deep learning. It uses the NVIDIA Tesla P40 GPUs. The latest version - NDv2 - features the NVIDIA Tesla V100 GPUs.
References:
https://azure.microsoft.com/en-in/pricing/details/virtual-machines/series/
NEW QUESTION 186
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. Cancelled the meeting as he has already behaved inappropriately by alerting to the investigation
- B. Limit discussions about the investigation with the customer and bE satisfied that the account manager has provided proper notice to the customer
- C. Let the account manager's manager know what conversations have taken place with the customer and document the account file accordingly
- D. Discuss all the points being investigated by law enforcement to ensure the correspondent bank is well prepared when approached
Answer: A
NEW QUESTION 187
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 30 days of the relationship being established under the policy
- B. At or before a premium payment has been accepted for the policy purchased
- C. At or before the policy is issued to the beneficiary by the insurance company
- D. At or before the time of payout or before the beneficiary intends to exercise rights vested under the policy
Answer: B
NEW QUESTION 188
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. Implement a temporary mitigation plan that enables effective management of the risk until a permanent plan can be developed
- C. Immediately cease providing the product and only offer it after effective permanent mitigation is implemented
- D. Note the risk and address it during the next round of policy and procedure review
Answer: B
NEW QUESTION 189
You have an Azure Machine Learning experiment that must comply with GDPR regulations.
You need to track compliance of the experiment and store documentation about the experiment.
What should you use?
- A. An Azure Log Analytics workspace
- B. Azure Table storage
- C. Azure Security Center
- D. Compliance Manager
Answer: D
Explanation:
Explanation/Reference:
References:
https://azure.microsoft.com/en-us/blog/new-capabilities-to-enable-robust-gdpr-compliance/
NEW QUESTION 190
A junior account manager within an international private bank in Country A noticed that one of his valued customers, who has held an account for several years in the institution, started making cash deposits in batches through various banks in Country B.
The account never received cash deposits and the junior account manager knew that banks in Country B were located very close to each other. What should the junior account manager do?
- A. Close the account.
- B. Offer the customer a more secure method of depositing in the hope of learning something more during the conversation.
- C. Notify the anti-money laundering specialist of his bank, but do not call the customer.
- D. File a suspicious transaction report with the Financial Intelligence Unit.
Answer: D
NEW QUESTION 191
What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?
- A. They provide technical assistance to members in implementing FATF recommendations
- B. They assist member countries in penalizing entities that violate FATF standards and recommendations
- C. They work with members on areas of concern outside of anti-money laundering and terrorist financing
- D. They supervise member country financial institutions relating to anti-money laundering and terrorist financing
Answer: A
Explanation:
Explanation
The following high-level principles apply for both FATF and FSRBs.* Role: FSRBs play an essential role in identifying and addressing AML/CFT technical assistance needs for their individual members. In those FSRBs that carry out this coordination work, technical assistance necessarily complements mutual evaluation and follow-up processes by helping jurisdictions to implement FATF standards.
NEW QUESTION 192
To ensure that an institution's anti-money laundering program is current, which step should be taken?
- A. The program should be sent to the institution's government regulator on a periodic basis
- B. The program should be evaluated and updated at least every six months be the Board of Directors
- C. The program should be reviews by a federal law enforcement officer for gaps in controls
- D. The program should be reassessed at least annually
Answer: D
NEW QUESTION 193
An automotive parts company in South America sends multiple $500,000 wire transfers per week to ABC Holdings Ltd. in Asia referencing payment for silk flower shipments. Research reveals Sunrise Holdings, Ltd is registered in the British Virgin Islands with no available ownership information.
What are two red flags that indicate how trade-based money laundering could be occurring in this instance? (Choose two.)
- A. The type of commodity being shipped appears inconsistent with the exporter or importer's regular business activities
- B. The packaging is inconsistent with the commodity or shipping method
- C. Significant discrepancies appear between the description of the commodity on the bill of lading and the invoice
- D. The transaction involves the use of front (or shell) companies
Answer: A,D
NEW QUESTION 194
What does the Financial Action Task Force (FATF) urge its members and all other jurisdictions to do when a jurisdiction is identified as having lax anti-money laundering / counter financing of terrorism controls?
- A. Apply economic sanctions until otherwise notified by FATF
- B. Apply counter-measures to that jurisdiction
- C. Cease doing business with that jurisdiction immediately
- D. Consider customers from that jurisdiction as high risk
Answer: B
NEW QUESTION 195
Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the world they serve.
What is one of the methods they use to understand these risks?
- A. They conduct regional-level research and analysis of the money laundering and terrorist financing methods and trends using standards and templates used for FATF typologies reports
- B. They conduct global research on money laundering and terrorist financing trends and report their findings in their own typologies report
- C. They require participating financial institutions of their members to file suspicious transaction reports to the regional body
- D. They require member countries to develop statistical metrics over money laundering and terrorist financing crimes
Answer: C
Explanation:
Explanation/Reference: https://www.fatf-gafi.org/media/fatf/documents/recommendations/Private-Sector-Information- Sharing.pdf (18)
NEW QUESTION 196
A company service provider in Country A sets up a corporate structure for a client from Country B, which is known for corruption. The corporate structure includes a holding company in Country A with a bank account in one of the international banks located there.
During on-boarding, the client's wealth was estimated at $7 million. Shortly thereafter, the client's father became president of Country B.
During a routine client review two years later, it was identified that client's wealth had grown to $510 million.
What are two red flags that indicate money laundering or financial terrorism? (Choose two.)
- A. The client is a family member of a PEP from a country known for corruption.
- B. The client is from a country known for corruption.
- C. The holding company is in Country A with a bank account in one of the international banks.
- D. The substantial growth in wealth during a short period of time.
Answer: A,B
Explanation:
Explanation
High-risk: The risks here are significant, but are not necessarily prohibited. To mitigate the heightened risk presented, the financial institution should apply more stringent controls to reduce the ML/FT risk, such as conducting enhanced due diligence and more rigorous transaction monitoring. Countries that maintain a reputation for corruption or drug trafficking are generally considered high-risk. High-risk customers may include politically exposed persons (PEPs) or certain types of money services businesses or cash-intensive businesses; high-risk products and services may include correspondent banking and private banking.
NEW QUESTION 197
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