Use CAMS Exam Dumps (2021 PDF Dumps) To Have Reliable CAMS Test Engine
CAMS PDF Recently Updated Questions Dumps to Improve Exam Score
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.
- Submit supporting documents.
- Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
- Provide three professional references.
NEW QUESTION 101
What is the currency threshold under the European Union Fourth Anti-Money Laundering Directive?
- A. 15,000 Euros
- B. 3,000 Euros
- C. 5,000 Euros
- D. 10,000 Euros
Answer: D
NEW QUESTION 102
The compliance officer at a crowd funding website is in charge of monitoring new crowd funding projects.
Recently, the number of crowd funding projects has significantly increased.
Which red flag indicates the highest anti-money laundering risk?
- A. Projects that start and close and are fully funded within a very short period
- B. Those with the largest number of donors
- C. Projects with the highest monetary success threshold
- D. Projects that get funding within days of their start
Answer: A
NEW QUESTION 103
What is one recommendation of the Basel Committee's 2001 paper Customer Due Diligence for Banks"?
- A. Numbered accounts should not be allowed
- B. Politically Exposed Persons (PEPs) should not be accepted as customers
- C. Banks should develop dear descriptions of acceptable customers
- D. Certain types of private banking can be exempt from KYC procedures
Answer: C
NEW QUESTION 104
Which of the following should an anti-money laundering specialist consider the most serious deficiency when detected during a regulatory audit of the anti-money laundering program?
- A. The company's anti-money laundering manual has not been updated to reflect a recent internal control enhancement.
- B. The compliance officer fails to have on-going meetings with upper management to keep them apprised of current money laundering trends.
- C. The company has not implemented an anti-money laundering training program.
- D. The company has failed to download the most recent regulation from the Financial Intelligence Unit web site.
Answer: C
NEW QUESTION 105
Which trading pattern may be indicative of money laundering in capital markets?
- A. Transacting with multiple counterparties
- B. Trading on an account
- C. Remittance of a round dollar amount
- D. Free of payment asset transfer
Answer: A
NEW QUESTION 106
What was the topic the Wolfsberg Group's first guidance addressed?
- A. AML training for financial institution staff
- B. Merchant acquiring activities
- C. Enhanced due diligence for high risk customers
- D. Private banking
Answer: D
Explanation:
Explanation
The Group first came together in 2000 at the Wolfsberg castle in Switzerland, accompanied by representatives of Transparency International, to draft anti-money laundering guidelines for private banking
NEW QUESTION 107
A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, that totaled about as much as the customer intended to deposit.
What should the junior account manager do?
- A. File a suspicious transaction report with the Financial Intelligence Unit
- B. Close the account
- C. Offer the customer a more secure method of depositing in the hope of learning something moreduring the conversation
- D. Notify the anti-money laundering specialist of his bank, but do not call the customer
Answer: D
NEW QUESTION 108
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You have an app named App1 that uses the Face API.
App1 contains several PersonGroup objects.
You discover that a PersonGroup object for an individual named Ben Smith cannot accept additional entries.
The PersonGroup object for Ben Smith contains 10,000 entries.
You need to ensure that additional entries can be added to the PersonGroup object for Ben Smith. The solution must ensure that Ben Smith can be identified by all the entries.
Solution: You migrate all the entries to the LargePersonGroup object for Ben Smith.
Does this meet the goal?
- A. Yes
- B. No
Answer: A
Explanation:
LargePersonGroup and LargeFaceList are collectively referred to as large-scale operations.
LargePersonGroup can contain up to 1 million persons, each with a maximum of 248 faces. LargeFaceList can contain up to 1 million faces. The large-scale operations are similar to the conventional PersonGroup and FaceList but have some differences because of the new architecture.
References:
https://docs.microsoft.com/en-us/azure/cognitive-services/face/face-api-how-to-topics/how-to-use-large-scale
NEW QUESTION 109
During an ongoing investigation into a client's activities by a competent authority, a compliance officer should
- A. Ensure communication with regulatory and law enforcement authorities is conducted only through senior management.
- B. Communicate with regulatory and law enforcement authorities in line with applicable local laws.
- C. Communicate only in writing 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: B
NEW QUESTION 110
An individual opens an e-account in an off-shore gambling website using non-documentary verification and creates an e-wallet on a mobile device. In order to add funds to the account, the individual uses a credit card, wire transfers, cryptocurrency, and a money service business. Which source of money represents more risk of money laundering?
- A. Credit card
- B. Cryptocurrency
- C. Wire transfer
- D. Money service business
Answer: B
NEW QUESTION 111
A compliance officer learns from an Information Technology (IT) source of a potential new financial service being discussed by the new product approval committee.
What is the correct next course of action?
- A. Request that the new product approval committee include the compliance officer.
- B. Go to the board of directors and try to shut the new service down immediately because the committee did not communicate with the compliance officer.
- C. Get as much information as possible from the source so that potential risks can be researched and a report prepared and presented to the head of marketing.
- D. Start initial research into potential risks but wait until notified that the service has been approved by the committee before initiating extensive research.
Answer: D
NEW QUESTION 112
To guard against acquisition or control of a financial institution by money launderers or their associates, what should supervisory agencies require?
- A. Comprehensive compliance programs
- B. Prospective owners have prior experience in the area of finance
- C. Thorough due diligence on prospective owners
- D. Adequate surety bonds, cash deposits, or equivalencies
Answer: C
NEW QUESTION 113
OFAC-issued regulations apply to which entities? (Choose two.)
- A. Intermediaries transacting with US banks
- B. Foreign banks with US customers
- C. US branches of a foreign bank
- D. Foreign subsidiaries of US banks
- E. Foreign import-export companies
Answer: A,D
NEW QUESTION 114
A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at £30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want to purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.
Which red flag should stop the agent from discussing this potential purchase further?
- A. The clients have the funds necessary to fund a £30 million purchase
- B. The clients are not willing to have their names provided to the bank
- C. The clients want to purchase to be made in the names of the private companies
- D. The clients are foreign
Answer: B
NEW QUESTION 115
Which key aspect of the Office of Foreign Assets Control's extraterritorial reach specifically relates to prohibited transactions?
- A. Prohibit or reject licensed trade and financial transactions with specified countries, entities and U.S.
individuals - B. Prohibit or reject unlicensed foreign trade and financial transactions with specified countries, entities, and individuals
- C. Prohibit or reject licensed trade and financial transactions with specified countries, entities and non-U.S.
individuals - D. Prohibit or reject unlicensed trade and financial transactions with specified countries, entities, and individuals
Answer: D
NEW QUESTION 116
Which of the following competent authorities should directly receive suspicious or unusual transaction reports?
- A. an independent judge
- B. law enforcement
- C. central bank
- D. financial intelligence unit
Answer: D
NEW QUESTION 117
Which two statements are true regarding the European Union Money Laundering Directives? (Choose two.)
- A. They set forth non-binding best practices for financial institutions within the member states
- B. They have extraterritorial impact and apply to states that have diplomatic relations with member states
- C. They require member states to enact laws and/or regulations to comply with the directives
- D. They apply to member states of the European Union
Answer: C,D
NEW QUESTION 118
Your company has a data team of Transact-SQL experts.
You plan to ingest data from multiple sources into Azure Event Hubs.
You need to recommend which technology the data team should use to move and query data from Event Hubs to Azure Storage. The solution must leverage the data team's existing skills.
What is the best recommendation to achieve the goal? More than one answer choice may achieve the goal.
- A. Azure Notification Hubs
- B. Apache Kafka streams
- C. Azure Stream Analytics
- D. Azure Event Grid
Answer: D
Explanation:
Event Hubs Capture is the easiest way to automatically deliver streamed data in Event Hubs to an Azure Blob storage or Azure Data Lake store. You can subsequently process and deliver the data to any other storage destinations of your choice, such as SQL Data Warehouse or Cosmos DB.
You to capture data from your event hub into a SQL data warehouse by using an Azure function triggered by an event grid.
Example:
First, you create an event hub with the Capture feature enabled and set an Azure blob storage as the destination. Data generated by WindTurbineGenerator is streamed into the event hub and is automatically captured into Azure Storage as Avro files.
Next, you create an Azure Event Grid subscription with the Event Hubs namespace as its source and the Azure Function endpoint as its destination.
Whenever a new Avro file is delivered to the Azure Storage blob by the Event Hubs Capture feature, Event Grid notifies the Azure Function with the blob URI. The Function then migrates data from the blob to a SQL data warehouse.
References:
https://docs.microsoft.com/en-us/azure/event-hubs/store-captured-data-data-warehouse
NEW QUESTION 119
How should law enforcement obtain documentation from an institution when suspicious activity was identified? (Choose two.)
- A. Request a Financial Intelligence Unit (FIU) share copies of suspicious transaction reports.
- B. Acquire a search warrant to obtain the documents.
- C. Request copies of the relevant documents from the accountable institution.
- D. Pay an employee of the accountable institution to make copies of the documents.
- E. Request the documents from the FIU.
Answer: C,E
NEW QUESTION 120
The marketing department presents a business plan targeting individuals holding important public positions.
What are some steps the financial institution should implement as part of the plan to target such individuals?
- A. Investigate the source of funds
- B. Determine the purpose of the account
- C. Take all reasonable steps to check the background of the individual based on public information
- D. Determine if the client appears on the Basel Committee on Banking Supervision's list of public officials
Answer: A,B,C
NEW QUESTION 121
An institution has made the decision to exit a client relationship due to anti-money laundering concerns. Prior to starting the close out process, the institution receives a written request from a law enforcement agency to keep the account open. The client is the subject of an ongoing investigation and law enforcement wants the institution to continue to monitor the account and report any suspicious activity.
What is primary consideration the institution should keep in mind when deciding whether to agree to this request?
- A. The fact that the institution has a solid record in complying with law enforcement requests
- B. The anticipated cost of complying with the law enforcement request
- C. The number of suspicious transaction reports previously filed on the client
- D. Whether the institution can continue to meet its regulatory obligations with the accounts open
Answer: D
NEW QUESTION 122
In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?
- A. A designated compliance officer with day-to-day oversight over the AML program
- B. A system of internal policies, procedures and controls
- C. An ongoing employee training program
- D. A description of its OFAC program to address government watch list screening
Answer: D
NEW QUESTION 123
When should the anti-money laundering risk assessment be updated?
- A. When instructed to by the Financial Action Task Force
- B. When the board of directors changes
- C. Every two years
- D. After a merger or acquisition
Answer: D
NEW QUESTION 124
A foreign bank operating under an offshore license wants to open a correspondent account with a United States (U.S.) bank. The foreign bank plans to provide payable through account services to some of its customers.
What must the foreign bank provide to the U.S. bank under the USA PATRIOT Act?
- A. A list of anti-money laundering training records for the financial institution employees monitoring payable through account transactions
- B. A list of politically exposed persons who are owners of the correspondent bank
- C. A list of account holders at the financial institution who will use the payable through account
- D. The person in the United States who can receive service of legal process for the correspondent bank
Answer: B
Explanation:
Explanation/Reference: https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/CBDDQ-Capacity-Building/ Wolfsberg%27s_CBDDQ_Capacity_Building_Guidance_Final%20V1.1.pdf
NEW QUESTION 125
According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professionals include which entities?
- A. Hawala operators
- B. Real estate agents
- C. Money services businesses
- D. Commodities traders
Answer: B
Explanation:
Reference: http://www.fatfgafi.org/media/fatf/documents/recommendations/pdfs/FATF%20Recommendations%20
(approved%20February%202012)%20reprint%20May%202012%20web%20version.pdf (page 19, DNFBPs: customer due diligence, bulleted point (b))
NEW QUESTION 126
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How to book the CAMS Exam
These are following steps for registering the CAMS exam.
Step 1: Fill your contact and membership information form Step 2: Select your CAMS exam package and certification language Step 3: Select any payment method and write the certification name Step 4: Mail or Fax exam application with attached necessary documents (diploma, copies etc) that fulfill the 40 credit prerequisite to this address:
ACAMS Attn. Certification Department Brickell City Tower 80 Southwest 8th Street, Suite 2350 Fax: +1.305.373.7788 or +1.305.373.5229
CAMS Exam topics
Candidates must know the exam topics before they start of preparation. Because it will really help them in hitting the core. Our CAMS dumps will include the following topics:
- SAR and STR filing
- The assistance of institutional investigations
- Money laundering and terrorist financing methods
- Conducting or supporting the investigation process
- How to manage and support a money laundering investigation
- Recognition of AML compliance risks
- AML/CFT compliance program designs in several business settings
- The Financial Action Task Force (FATF) Recommendations, the Basel Committee’s Report on client Due Diligence and also the Wolfsberg cluster Principles
- Important elements of an Anti-Money Laundering (AML) program
CAMS Dumps Full Questions with Free PDF Questions to Pass: https://quizguide.actualcollection.com/CAMS-exam-questions.html