Free Access ACAMS.CAMS.v2022-03-03.q260 Practice Test (Page 2)

Question 1

Which three areas do FATF's 40 recommendations cover? Choose 3 answers

A.International Cooperation

B.Prescriptive sentences for predicate offenses

C.Financial systems and their regulation

D.The criminal justice system

Question 2

Which two individuals are ordinarily beneficial owners of a private banking account according to the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

A.Those who are the ultimate source of funds for the account and whose source of wealth should be subject to due diligence

B.Those who generally have ultimate control through ownership or other means over the funds in the account

C.Those who have legal title to a controlling share interest in the customer

D.Those who are authorized signers on the account

Question 3

Which action should an FIU consider taking when it has information that might be useful to another FIU?

A.Request approval from the Egmont Group prior to sharing the information with the other FIU

B.In accordance with Wolfsberg guidelines, submit the information to the other FIU in written form

C.Take no action until contacted by the other FIU

D.Supply the information to the other FIU spontaneously as soon as the relevance of sharing the information is identified

Question 4

In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?

A.Highlighting the skills of the system analysts

B.Proving to the Board of Directors that the FIU is doing its job

C.Identifying how customers are using products

D.Meeting mandatory regulatory requirements for system implementation

Question 5

In reviewing recent activity, a compliance officer for a money transmitter that several customers are each remitting the same amount of money but much more frequently.
How should the institution respond?

A.File a suspicious transaction report

B.Instruct the tellers not to process remittances for these customers in the future

C.Conduct further investigation to determine whether this is truly suspicious activity

D.Immediately contact the customers and ask them why they are remitting money more often

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