Real ACAMS CAMS Exam Questions [Updated 2021]
CAMS Exam Dumps Pass with Updated 2021 Certified Anti-Money Laundering Specialists
How much CAMS Exam Cost
There are two options. Candidate can choose either with a virtual classroom package or without a virtual classroom package.
Price and benefits of with virtual classroom package
- The price of this package is $1,880 for private sectors and $1,540 for public sectors
- This package consists of a CAMS study guide, Online Preparation Course, CAMS Virtual classroom and CAMS Examination
Price and benefits of without virtual classroom package:
- This package consists of a CAMS study guide, Online Preparation Course and CAMS Examination
- The price of this package is $1,459 for private sectors and $1,145 for public sectors
NEW QUESTION 153
What are some of the methods for sharing information and cooperating on an international basis? Choose 3 answers
- A. Issuance subpoenas
- B. Regulatory sharing through Supervisory Channels
- C. International Money Laundering Information Network
- D. Mutual Assistance Legal Treaties
Answer: B,C,D
NEW QUESTION 154
Which three characteristics make non-profit organizations vulnerable to misuse for terrorist financing?
- A. Being listed as government nonprofit organization
- B. Having access to a considerable sources of funds
- C. Enjoying the public trust
- D. Having a global presence for national and international operations and financial transactions
Answer: B,C,D
NEW QUESTION 155
What is a key element required to ensure an anti-money laundering compliance program is effectively embedded into an institution's culture?
- A. A record retention policy
- B. Ongoing training
- C. An internal audit
- D. Peer review
Answer: B
NEW QUESTION 156
A compliance officer is looking to modify procedures covering correspondent banking relationships. Which three would be recommended under the Wolfsburg Principles on Correspondent Banking? Choose 3 answers
- A. Risk-based rating of central banks and regional development banks
- B. Periodic risk-based reviews of cents
- C. Prohibition on offering products or services to shell banks
- D. Assessing the regulatory status and history of the client
Answer: B,C,D
NEW QUESTION 157
After an institution files an STR with regard to a particular account, a law enforcement agent requests the institution to keep the account open until advised otherwise by law enforcement.
What steps should the institution take?
- A. The institution should keep the account open only if doing so comports with the bank's own AML procedures
- B. The institution should request a written letter from the law enforcement (agency signed by an appropriate authorized signature)
- C. The institution should close the account in order not to be caught in the middle of a law enforcement investigation
- D. The institution should follow the request of the law enforcement agent and keep the account open
Answer: B
NEW QUESTION 158
You have a solution that runs on a five-node Azure Kubernetes Service (AKS) cluster. The cluster uses an N- series virtual machine.
An Azure Batch AI process runs once a day and rarely on demand.
You need to recommend a solution to maintain the cluster configuration when the cluster is not in use. The solution must not incur any compute costs.
What should you include in the recommendation?
- A. Downscale the cluster to zero nodes
- B. Delete the cluster
- C. Downscale the cluster to one node
Answer: C
Explanation:
An AKS cluster has one or more nodes.
References:
https://docs.microsoft.com/en-us/azure/aks/concepts-clusters-workloads
NEW QUESTION 159
What are two requirements of United States financial institutions when conducting business with an international financial institution as a result of the USA PATRIOT Act? (Choose two.)
- A. Performing enhanced due diligence on shell banks
- B. Visiting the head office of the international financial institution
- C. Performing due diligence on correspondent accounts
- D. Complying with Special Measures issued under the USA PATRIOT Act
Answer: C,D
NEW QUESTION 160
You plan to deploy two AI applications named AI1 and AI2. The data for the applications will be stored in a relational database.
You need to ensure that the users of AI1 and AI2 can see only data in each user's respective geographic region. The solution must be enforced at the database level by using row-level security.
Which database solution should you use to store the application data?
- A. Microsoft Azure Cosmos DB
- B. Microsoft Azure Database for MySQL
- C. Microsoft SQL Server on a Microsoft Azure virtual machine
- D. Microsoft Azure Data Lake Store
Answer: C
Explanation:
Row-level security is supported by SQL Server, Azure SQL Database, and Azure SQL Data Warehouse.
References:
https://docs.microsoft.com/en-us/sql/relational-databases/security/row-level-security?view=sql-server-2017
NEW QUESTION 161
What is the term for trading through multiple accounts, where an individual generates offsetting profits and losses and transfers of positions through accounts that do not appear to be commonly controlled?
- A. Net Trading
- B. Ponzi scheme
- C. Wash Trading
- D. Market Manipulation
Answer: C
NEW QUESTION 162
Pursuant to the Third European Union Money Laundering Directive, how long after being out of prominent office should a person NOT be considered to be a Politically Exposed Person (PEP)?
- A. 3 years
- B. 2 years
- C. 1 year
- D. 4 years
Answer: C
NEW QUESTION 163
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 global research on money laundering and terrorist financing trends and report their findings in their own typologies report
- B. They require participating financial institutions of their members to file suspicious transaction reports to the regional body
- C. 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
- D. They require member countries to develop statistical metrics over money laundering and terrorist financing crimes
Answer: B
NEW QUESTION 164
Which of the following activities conducted at a financial institution is the strongest example of avoiding reporting thresholds?
- A. Performing transactions by check (cheque) or other payment instrument.
- B. Conducting small cash transactions at multiple locations during the same day.
- C. Establishing both a personal and business account and depositing cash in both.
- D. Making small cash deposits over the course of a week.
Answer: B
NEW QUESTION 165
How can a financial institution verify the nature and purpose of a business and its legitimacy?
- A. By reviewing a copy of the corporation's latest audited reports and accounts
- B. By reviewing the company's website
- C. By using an independent information verification process, such as by accessing public andprivate databases
- D. By undertaking a company search or other commercial inquires to see that the institution hasnot been, or is not in the process of being dissolved of terminated
Answer: C
NEW QUESTION 166
What does the Egmont Group's support for its members include?
- A. Expanding the ability of FIUs to enforce laws and exchange information globally to combat money laundering and terrorist financing
- B. Expanding and systematizing international cooperation in the reciprocal exchange of information
- C. Issuing due diligence models for financial institutions
- D. Issuing strategic products for law enforcement agencies and FIUs on topics of international interest
Answer: B
NEW QUESTION 167
A profitable commercial customer who operates an import-export business has multiple accounts with the same institution at branches m different locations. The customer receives funds from a jurisdiction perceived as highly corrupt according to Transparency International ratings. The customer makes frequent transfers among the accounts and prefers to manage the accounts separately. What should the institution do to mitigate the risk associated with these accounts?
- A. Conduct a trade-pnce manipulation analysis
- B. File a suspicious transaction report
- C. Develop a system to monitor all the activity
- D. Diminish the importance of the subjective Transparency International rating
Answer: B
NEW QUESTION 168
Which issue does the FATF special Recommendations on Terrorist Financing address?
- A. Mutual evaluation of Arabic countries
- B. Ratification of European Union directives
- C. Non-cooperative countries and territories
- D. Freezing and confiscating assets
Answer: D
NEW QUESTION 169
Which two methods have terrorist groups used to diversify their revenue stream and to fund their operations? (Choose two.)
- A. Smuggling cultural artifacts
- B. Engaging in civil conflict
- C. Engaging in wire transfer activity
- D. Human trafficking
Answer: C,D
NEW QUESTION 170
A financial institution receives a regulatory enforcement action because of deficiencies in its anti-money laundering program.
Which action should the board of directors take?
- A. Hire an attorney with instructions to protest the enforcement action
- B. Terminate the compliance officer and staff
- C. Instruct the compliance officer to develop a plan to remediate the institution's anti-money laundering program
- D. Purchase and install a new suspicious activity monitoring system
Answer: C
NEW QUESTION 171
A compliance officer provides an overview of the bank's anti-money laundering program to a group of new tellers during employee orientation.
Which training element should be delivered to this audience?
- A. Past check fraud losses incurred by the financial institution
- B. Results of recent risk assessments
- C. Large cash transaction reporting procedures
- D. The financial institution's surprise cash audit policy
Answer: C
Explanation:
Explanation/Reference:
NEW QUESTION 172
Your company has recently purchased and deployed 25,000 IoT devices.
You need to recommend a data analysis solution for the devices that meets the following requirements:
* Each device must use its own credentials for identity.
* Each device must be able to route data to multiple endpoints.
* The solution must require the minimum amount of customized code.
What should you include in the recommendation?
- A. Microsoft Azure Notification Hubs
- B. Microsoft Azure Event Hubs
- C. Microsoft Azure Service Bus
- D. Microsoft Azure IoT Hub
Answer: D
Explanation:
An IoT hub has a default built-in endpoint. You can create custom endpoints to route messages to by linking other services in your subscription to the hub.
Individual devices connect using credentials stored in the IoT hub's identity registry.
References:
https://docs.microsoft.com/en-us/azure/iot-hub/iot-hub-devguide-security
NEW QUESTION 173
What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)
- A. Utilize downstream correspondents to investigate and report suspicious activity
- B. Investigate and report suspicious activity only for the correspondent bank's clients
- C. Incorporate suspicious activity monitoring into periodic reviews
- D. Incorporate due diligence results such as customer risk ratings
Answer: A,D
Explanation:
Explanation/Reference:
NEW QUESTION 174
An institution receives a request for credit from a local company that has been a client for many years. The information provided by the company indicates that its assets have increased substantially with the addition of several new subsidiaries. Further research performed by the institution indicates the new subsidiaries are recently created shell companies.
Could this indicate potential money laundering?
- A. No, the company has been a client for many years.
- B. No, it is normal for a business to diversify by creating shell companies.
- C. Yes, shell companies are typically created to manage tax liabilities.
- D. Yes, the shell companies could have been created to hide beneficial ownership.
Answer: D
NEW QUESTION 175
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