Free Access ACAMS.CAMS.v2022-03-03.q260 Practice Test (Page 32)

Question 151

In which two ways does a government Financial Intelligence Unit interact with public and private sectors?
(Choose two.)

A.It mediates disputes between financial institutions and investigative authorities

B.It governs the methods of investigation used by competent authorities

C.It receives and analyzes disclosures filed by financial and non-bank institutions

D.It disseminates information and the results of its analysis to competent authorities

Question 152

A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank's jurisdiction.
Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)

A.Identify deposits by casas de cambio that include third-party items including sequentially numbered monetary instruments

B.Identify if there is a decrease in the sale of large denomination U.S. bank notes to casas de cambio by the bank

C.Identify multiple wire transfers initiated by casas de cambio to jurisdictions outside of Mexico that bear no apparent business relationship with that casa de cambio

D.Identify the money laundering scheme and submit a suspicious transaction report

Question 153

What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?

A.They provide technical assistance to members in implementing FATF recommendations

B.They assist member countries in penalizing entities that violate FATF standards and recommendations

C.They work with members on areas of concern outside of anti-money laundering and terrorist financing

D.They supervise member country financial institutions relating to anti-money laundering and terrorist financing

Question 154

When must a United States (U.S.) bank block or reject an international funds transfer when there is an Office of Foreign Assets Control designated party to the transaction?

A.Only if a non-U.S. person or entity is the ultimate beneficiary

B.Only if a U.S. person or entity is the ultimate beneficiary

C.Only if the U.S. bank's correspondent informs it of the involvement of the designated party

D.Only if the U.S. bank is involved in the funds transfer

Question 155

What indicates potential money laundering activity by a lawyer?

A.A lawyer's account in a high risk country receives a cash deposit of an amount that is considerable below the reporting threshold

B.A lawyer's trust account regularly receives wire transfers from unknown remitters in a high risk country and immediately redirects the same funds to the same remitters account in a low risk country

C.A lawyer's trust account receives a large value wire transfer from a publicly listed life insurance company and then immediately transfers the same funds out to an unknown individual in a low risk country

D.A lawyer's account in a low risk country receives a bank draft from another lawyer firm in a high risk country

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Question 151

Question 152

Question 153

Question 154

Question 155

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