Free Access ACAMS.CAMS.v2022-10-31.q252 Practice Test (Page 34)

Question 161

Which three procedures should a compliance officer looking to revise an institution's CTF efforts include in accordance with the Wolfsberg Group's Statement on the Suppression of the Financing of Terrorism?

A.Consulting applicable lists and taking appropriate actions to determine if customers appear on such lists

B.Reporting matches from lists of known or suspected terrorists to relevant authorities

C.Maintaining customer information to facilitate timely retrieval of such information

D.Reviewing only original identification documents when verifying customers

Question 162

A local law enforcement officer notifies the bank compliance officer that he is working on an insurance fraud scheme that appears to be running transactions using the account of a bank employee. The law enforcement officer refers to a kiting suspicious transaction report filed by the compliance officer and requests further information.
What action should the compliance officer take?

A.Provide the information to the law enforcement in response to a formal written request

B.Inform the board of directors

C.Call the employee and demand an explanation

D.Allow access to the bank's documents immediately

Question 163

According to the Financial Action Task Force Special Recommendations on Terrorist Financing, what should an anti-money laundering specialist do if the specialist has reasonable grounds to suspect funds are linked or related to terrorist acts?

A.Contact the institution's legal advisor

B.Promptly report it to the competent authority

C.Conduct a full due diligence review of the client

D.Inform the institution's managing Board of Directors

Question 164

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 165

What do the Financial Action Task Force (FATF) mutual evaluations of each member assess?

A.The member's ability to send a representative to the plenary sessions

B.If the member has made any suggestions for updates to the FATF Recommendations

C.The levels of implementation of the FATF Recommendations

D.If the member has a large enough economy to maintain its membership

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Question 161

Question 162

Question 163

Question 164

Question 165

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