Free Access ACAMS.CAMS.v2022-03-03.q260 Practice Test (Page 20)

Question 91

What is a method of placement that can be used by a money launderer in a deposit taking institution?

A.Depositing cash into the money launderer's account

B.Withdrawing large amounts of cash from the money launderer's account

C.Depositing cashier's checks and money orders into the money launderer's account

D.Sending a large number of funds transfers between accounts

Question 92

Which two aspects of precious metals pose the highest risk of money laundering? (Choose two.)

A.Some precious metals can be formed into other objects, making easier to transport

B.Precious metals can be readily used in many high-tech commercial applications, making them all the more valuable

C.Precious metals have high intrinsic value in a relatively compact form and are easy to convert into currency

D.The value of precious metals can be inflated easily, making it easy to increase the amount of money laundered

Question 93

What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking?
(Choose two.)

A.At least one person, aside from the person sponsoring the relationship, should approve the correspondent relationship.

B.Correspondent banking is an inherently high risk business and all correspondent bank relationships should be reviewed on an annual basis.

C.Factors such as politically exposed person involvement and downstream (nested) correspondents increase the risk inherent in a correspondent relationship.

D.An Institution may assign a low risk rating to a correspondent bank located in a jurisdiction deemed to have an adequate AML environment (e.g., Financial Action Task Force member country) without needing to consider other factors.

Question 94

In order to protect investigative materials from disclosure when conducting an internal Investigation of any employee of a financial institution, legal counsel of that financial should________?

A.Request formal company authorization to conduct the investigation. Such authorization should be granted, if possible, by the board of directors or audit committee

B.Let the bank hire any and all contract investigators to conduct the internal investigation. That way Legal is not a party to the action and may remain independent

C.Refuse to provide any records or documents to law enforcement because the bank has client privilege with its bank customers

D.Not mark files or documents with privileged and Confidential: Attorney-Client Privilege and/or Work-Product. Those marks will only encourage law enforcement

Question 95

Which method most likely indicates the placement stage of laundering dirty money in a land based casino?

A.Using cash to buy casino winnings from legitimate winners at apremium

B.Redeeming smaller denomination casino chips forlargestdenomination chips

C.Buying casino chips against a bank draft

D.Transfering substantial amounts of money from a client's credit card to a client's casino's VIPaccount

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Question 91

Question 92

Question 93

Question 94

Question 95

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