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Acams Study Guide

Acams Study Guide

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Acams Study Guide

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  1. Acams CAMS - Certified Anti-Money Laundering Specialists

  2. What is Acams ACAMS is the largest international membership organization dedicated to enhancing the knowledge and expertise of AML/CTF and financial crime detection and prevention professionals, from a wide range of industries, in both the public and private sectors. ACAMS serves it members with extensive resources designed to develop and sharpen the skills required for superior job performance, and career advancement including certifications, moneylaundering.com (the industry’s leading online news and information resource), ACAMS Today (the premier AML magazine) international conferences, full day seminars, web seminars, customized training, risk assessment software and peer networking opportunities. The CAMS certification is the most widely recognized AML certification among compliance professionals worldwide. Candidates who pass the rigorous CAMS examination distinguish themselves as experts fully qualified for the demanding anti-money laundering duties in business and government.

  3. Certifications Anti-Money Laundering Specialist Certification • Earn 32% more than non-certified colleagues, according to the 2013 ACAMS AML/CFT/FCP Compensation Survey • Increase their professional value through better understanding of financial crime detection and prevention techniques • Protect their institution from money laundering threats and minimize financial crime risks • Meet mandated AML training requirements through preparation and study • Prove their AML expertise to examiners and regulators Cams Certification Benefits: The Certified Anti-Money Laundering Specialist (CAMS) credential is the gold standard in AML certifications and recognized internationally by financial institutions, governments and regulators.

  4. We have CAMS dumps and past paper questions & answers for your exam training. In this Certified Anti-Money Laundering Specialists exam we have real exam questions with their answers so that you can get ready & pass exam in your first try. Exams4sure gives free demo for CAMS Acams exam You can get demo and check our sample questions before attempt the exam.

  5. Question No 1: Which of the following best describes the Black Market Peso Exchange money laundering method? A. The best known money laundering method used by known terrorists B. An undercover technique to identify politically exposed persons who may assist money launderers C. A method primarily used by narcotics traffickers to transfer value back to the source country D. A method used to smuggle dollars or pesos across the border from the United States to Mexico, and vice versa Answer: C

  6. Question No 2: How can a financial institution verify the nature and purpose of a business and its legitimacy? Choose 3 answers A. By reviewing a copy of the corporation’s latest audited reports and accounts B. By undertaking a company search or other commercial inquires to see that the institution has not been, or is not in the process of being dissolved of terminated C. By reviewing the company’s website D. By using an independent information verification process, such as by accessing public and private databases Answer: A, B, D

  7. Question No 3: An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution. Which of the following should be included? A. A training program for senior management and staff. B. An anti-money laundering compliance program, internal audit program, and procedure manual. C. Basel Committee on Banking Supervision's capital adequacy requirements for the host country. D. Compliance requirements of host and chartering countries. Answer: A, B, D

  8. Question No 4: Because financial institutions must sort through thousands of transactions each day, which risk-based factors should an institution’s system for monitoring and reporting suspicious activity focus on? A. The institution’s size, nature of business and type and location of its customers B. Whether a bank accepts cash deposits at its ATMs C. Drawing on uncollected funds and depositing of third-party instruments D. Local regulator’s guidelines, economies of scales and budgetary provisions Answer: C

  9. Question No 5: Why can terrorist financing be very difficult to identify? A. The funds needed to conduct a terrorist act can be relatively small B. It is hard to get a name added to the OFAC list of terrorists C. Because of the various methods used to launder funds for terrorist financing D. Terrorism is not a crime in all countries Answer: C

  10. Question No 6: Which three are best practices for embedding compliance into an institution’s culture? Choose 3 answers. A. Having the Compliance Officer review and approve the institution’s AML policy B. Requiring senior management oversee and implement the institution’s AML policy C. Requiring periodic and on-going training on AML issues and procedures D. Incorporating compliance with the institution’s AML policy into the annual evaluation process Answer: A, C,D

  11. Question No 7: A large cash deposit most likely reflects money laundering when it is: A. from a customer who has never conducted a transaction in cash before B. transacted in segments smaller than the reporting thresholds at various times during the day C. followed by an immediate wire transfer to an offshore secrecy haven D. by a customer who operates a cash-based business Answer: A, C, D

  12. Question No 8: In which three circumstances foes a large-cash deposit most likely reflect money laundering? A. When it is from a customer who has never operated a business B. When it is by a customer who operates a cash-based business C. When it is transacted in segments smaller than the reporting thresholds at various times during the day D. When it is followed by an immediate wire transfer to an offshore secrecy haven Answer: A, B, D

  13. Question No 9: The Wolfsburg Principles for Private Banking list circumstances that would require additional due diligence, including activities that involve which three of these choices? A. Foreign jurisdictions B. High Risk Countries, including those identified by credible sources as having inadequate Anti Money Laundering standards C. high Risk activities, involving clients and beneficial owners whose source of wealth originates From activities known to be vulnerable to money laundering D. Public Officials, including those individuals who have or had positions of public trust Answer: B, C, D

  14. Question No 10: Which indicator should be suspicious to a compliance officer at a brokerage firm? A. Trading between accounts controlled by the same person B. Large number of bid/ask prior to market opening C. The client imposed limits to their losses from the outset of the relationship D. A broker splits the bid-ask spread with the investor when matching buy and sell orders Answer: A or D

  15. Acams CAMS - Certified Anti-Money Laundering Specialists