Free Access ACAMS.CAMS.v2022-03-03.q260 Practice Test (Page 48)

Question 231

You are designing an AI application that will use an azure Machine Learning Studio experiment.
The source data contains more than 200 TB of relational tables. The experiment will run once a month.
You need to identify a data storage solution for the application. The solution must minimize compute costs.
Which data storage solution should you identify?

A.Azure Database for MySQL

B.Azure SQL Database

C.Azure SQL Data Warehouse

Question 232

Which action indicates possible Penza scheme activity?

A.An unlicensed investment advisor offers profits other investments cannot guarantee

B.A unlicensed investment advisor offers returns that are competitive with industry benchmarks

C.A licensed investment advisor lures aging/retired professionals to invest in securities

D.A licensed seller offers higher profit on investments in a high risk country

Question 233

What is an essential element of Know Your Customer (KYC) standards according to the Basel Committee's Customer Due Diligence for Banks paper?

A.Annual staff training

B.A customer acceptance policy

C.The same KYC requirements must be applied in all cases

D.All completed KYC documents must be reviewed by a senior manager not involved in the account opening process

Question 234

A financial institution's monitoring system triggers an alert and an internal investigation has confirmed the activity as suspicious. Which of the following should an anti-money laundering specialist do before submitting the suspicious transaction report?

A.Check with other financial institutions in accordance with the relevant law.

B.Secure documents related to the suspicious circumstances and the decision to report.

C.Contact the customer for further information without disclosing the suspicion.

D.Add information related to the suspicious activity to the customer's account-opening file.

Question 235

Which three definitions of money laundering are included in the expanded definition of the European Union Fourth Directive? (Choose three.)

A.The creation of shell companies to disguise the identity of its owners

B.The conversion or transfer of property with knowledge that it is derived from criminal activity

C.The acquisition or use of property knowing, when it was received, that it was derived from criminal activity

D.The transfer of cash in excess of 15,000 euros across country borders regardless of whatever the cash was derived from criminal activity

E.Concealing or disguising the nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that the property is derived from criminal activity

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Question 231

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