Free Access ACAMS.CAMS.v2022-10-31.q252 Practice Test (Page 17)

Question 76

Which two statements in the Wolfsberg Group's "Suppression of the Financing of Terrorism" define the role financial institutions should play in the fight against terrorism? (Choose two.)

A.Financial institutions need to continuously analyze the types of activity related to terrorist financing and develop models that in the long term will drive down terrorism.

B.Financial institutions should apply extra due diligence whenever they see suspicious or irregular activities, especially when customers are engaged in sectors or activities that have been identified by competent authorities as being used for the financing of terrorism.

C.Financial institutions should have financial intelligence units dedicated to the investigation of activity that would lead to the detection of terrorist financing as a means to decrease global terrorism.

D.Financial institutions need to assist competent authorities in fighting terrorist financing through prevention, detection and information sharing.

Question 77

Why do governments and multi-national bodies impose economic sanctions?

A.To combat an imminent terrorist threat

B.To impede kleptocracy

C.To prevent fraudulent international trade transactions

D.To enforce foreign policy objectives

Question 78

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

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

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

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

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

Question 79

What is most valuable when using the internet as an investigative source?

A.A team of AML investigators

B.A powerful search engine

C.A combination of independent thinking and technical skills

D.A reference list of websites known to yield credible information

Question 80

A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account owned by Foreign Bank A, a number of transactions appear to have been originated by Foreign Bank B outside the expected activity for this account. These transactions appear suspicious and a suspicious transaction report was filed by the compliance officer.
Which step should the compliance officer take?

A.Notify senior management of the money laundering risks by allowing Foreign Bank A to maintain its U.S.
dollar correspondent account

B.Notify other U.S. financial institutions who maintain U.S. dollar correspondent accounts for Foreign Bank A and Foreign Bank B in an effort to shut down the activity

C.File a report with the appropriate tax authorities in the jurisdictions of Foreign Bank A and Foreign Bank B

D.Notify Foreign Bank A of the discovery and seek documentation supporting Foreign Bank A was collusive and a willing partner with Foreign Bank B in the activity

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Question 76

Question 77

Question 78

Question 79

Question 80

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