Free Access ACAMS.CAMS.v2022-10-31.q252 Practice Test (Page 32)

Question 151

To ensure that an institution's anti-money laundering program is current, which step should be taken?

A.The program should be evaluated and updated at least every six months be the Board of Directors

B.The program should be sent to the institution's government regulator on a periodic basis

C.The program should be reviews by a federal law enforcement officer for gaps in controls

D.The program should be reassessed at least annually

Question 152

Your company recently purchased several hundred hardware devices that contain sensors.
You need to recommend a solution to process the sensor data. The solution must provide the ability to write back configuration changes to the devices.
What should you include in the recommendation?

A.Microsoft Azure IoT Hub

B.API apps in Microsoft Azure App Service

C.Microsoft Azure Event Hubs

D.Microsoft Azure Notification Hubs

Question 153

After review of the financial institution's enterprise-wide anti-money laundering risk assessment, the new compliance officer identifies several deficiencies that need attention.
Which deficiency could lead to the highest potential for unmitigated risk?

A.The risk assessment is several years old and does not cover all current products and services.

B.The risk assessment is revisited too frequently thereby diverting critical resources from other compliance tasks.

C.The risk assessment is managed by a different team from the previous assessment therefore disrupting continuity of institutional knowledge.

D.The risk assessment does not anticipate potential risks even though the financial institution has no immediate plans involving those risks.

Question 154

A compliance officer is developing an anti-money laundering program for a financial institution located in a Financial Action Task Force member country. The institution conducts business with customers located in countries/jurisdictions that are not members of Financia Action Task Force. Which of the following issues should be addressed in the program?

A.The requirement for customer identification for the opening of new accounts.

B.The requirement to identify the beneficial owners of accounts.

C.The financial institution's obligation to report suspicious transactions.

D.The obligation to freeze funds involved in suspicious transactions.

Question 155

A bank located in Arizona is considering a loan application for a new client. The collateral for the loan is a property in Florida.
The loan will be in the name of a limited company (LLC) whose ownership is not disclosed to the bank. The LLC was established by a New York-based attorney.
The loan will be repaid by the LLC in monthly wire transfers of $9,000 which is more than the required monthly payment.
Which aspect indicates the potential for money laundering?

A.The LLC's ownership is not disclosed to the bank

B.The attorney associated with the account is outside the bank's lending area

C.The repayment in the amount of $9,000 indicates potential structuring

D.The collateral, a property in Florida, is not located in Arizona

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Question 151

Question 152

Question 153

Question 154

Question 155

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