Free Access ACAMS.CAMS.v2022-03-03.q260 Practice Test (Page 30)

Question 141

What three attributes do havens for money laundering and terrorist financing typically have? Choose 3 answers

A.Little enforcement of the laws, weak penalties or provisions that make it difficult to confiscate or freeze assets related to money laundering

B.Limited types of institutions and persons covered by money laundering laws and regulations

C.Absence of an effective FIU

D.A large number of predicate crimes for money laundering

Question 142

AML cooperation between countries consists of which three official gateways?

A.The Basel Committee

B.Mutual Legal Assistance Treaties (MLAT)

C.A communication between Financial Intelligence Units (FIU)

D.The supervisory channel

Question 143

When an institution investigates a suspicious transaction and files an STR, which three steps should the institution take? Choose 3 answers

A.Interview all pertinent employees who may know something about the transaction

B.Review all relevant transactions in light of expected and normal business transactions

C.Ensure that all relevant documents are identified, secured and maintained

D.Allow only the institution's outside counsel to conduct the investigation in order to maintain the attorney-client privilege

Question 144

According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions?
1. Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500.
2. Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral.
3. A pension that provides retirement benefits to employees.
4. Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.

A.1, 2, and 4 only

B.2, 3, and 4 only

C.1, 2, and 3 only

D.1, 3, and 4 only

Question 145

Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

A.Records identifying the owners of each foreign bank

B.Section 314(b) information sharing results related to foreign correspondent accounts

C.Purchase of monetary instruments of $3,000 or more involving foreign correspondent accounts

D.A suspicious activity report filed and the supporting documentation involving foreign correspondent accounts

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Question 141

Question 142

Question 143

Question 144

Question 145

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