Free Access ACAMS.CAMS.v2022-03-03.q260 Practice Test (Page 41)

Question 196

What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers

A.The type and size of the business the customer runs

B.The legal structure of the customer's business

C.The country or location where the customer is from or does business

D.The previous financial institutions where the customer has banked

Question 197

What does the Egmont Group's support for its members include?

A.Issuing due diligence models for financial institutions

B.Expanding and systematizing international cooperation in the reciprocal exchange of information

C.Issuing strategic products for law enforcement agencies and FIUs on topics of international interest

D.Expanding the ability of FIUs to enforce laws and exchange information globally to combat money laundering and terrorist financing

Question 198

A bank compliance officer discovers cash deposit activity inconsistent with the expected and historical cash activity within the personal accounts of the chairman of the board. The cash activity appears structured to avoid the local legal filing requirements for large cash transactions, and a suspicious transaction report (STR) was filed.
How should the compliance officer report the filing of the STR to the board of directors without revealing the existence of the filing to the subject?

A.Notify the financial institution's regulator to disclose the activity

B.Follow the financial institution's established STR reporting policy

C.The compliance officer and the chief executive officer should jointly interview the chairman

D.Inform the legal counsel of the bank

Question 199

What are the attributes of "Cuckoo Smurfing" the money laundering term FATF added in 2005?

A.It involves commercial transactions deliberately routed through retail organization's bank accounts

B.It involves the use of multiple individuals for making cash deposits, buying monetary instruments or bank drafts in amounts that are under reportable limit

C.It is linked to alternative remittance systems in which criminal funds are transferred through the accounts of unwitting persons expecting genuine funds from abroad

D.It involves the process of sending multiple wires abroad to money laundering havens and having the funds returned in smuggled bulk cash

Question 200

Which statement about U.S. Specified Unlawful Activities (SUA) is true?

A.SUAs are limited to crimes that occur within the borders of the U.S. and its territories andpossessions

B.At least one SUA must be proven in order to pursue a money laundering conviction

C.In order to secure a conviction, the defendant must be proven to have known the precise natureof the source of funds

D.SUAs are generally limited to a small sub-set of crimes

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Question 196

Question 197

Question 198

Question 199

Question 200

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