Free Access ACAMS.CAMS.v2022-03-03.q260 Practice Test (Page 12)

Question 51

When implementing a risk-based approach related to casinos, which risks are related to the customer as an individual? (Choose two.)

A.Transfer between customers

B.Improper use of third parties as customers

C.Use of casino deposit accounts by the customer

D.Customer from a high-risk country

E.Casual customers

Question 52

An anti-money laundering expert is hired by a new Internet bank to assess the money laundering threat to the bank. What is the most important recommendation for the expert to make given it is an on-line bank?

A.The bank should set up automated programs to analyze transactions for money launderingactivity

B.The bank should ensure that a firewall is set up to protect the transactions

C.The bank should limit the amount of money which can be processed per transaction

D.The bank should ensure that prospective new customers can be properly identified

Question 53

Which two actions should Financial Intelligence Units (FIUs) take when submitting a request to another FIU?
(Choose two.)

A.Provide feedback on how the information was used

B.Disclose the reason and purpose for the request

C.Send the same request to all FIUs

D.Make best efforts to provide complete and factual information

Question 54

A financial institution opens a mortgage loan for a customer. During a subsequent internal review of the loan, it was noted that the appraisal used to support the loan was performed by an appraiser who was not on the institution's approved appraiser list. This exception was approved by the senior loan underwriter. The reviewer, who had examined other loans from the same general area, noted that the value on the loan appeared significantly higher than on other comparable properties. Which of the following should the anti-money laundering specialist recommend next?

A.Determine whether the loan underwriter reviewed the appraiser's license for validity.

B.Alert local law enforcement regarding a potential collusive relationship between the underwriter and appraiser.

C.Document the underwriter's actions prior to filing a suspicious transaction report.

D.Train the appraiser on anti-money laundering compliance for high-end real estate loans.

Question 55

How should a financial institution deter money laundering through new accounts? Choose 3 answers

A.Determine the beneficial owner(s) of the account

B.Query owner's names against FATF database

C.Document the identity of the party opening the account

D.Seek to determine the source of deposited funds

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Question 51

Question 52

Question 53

Question 54

Question 55

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