Free Access ACAMS.CAMS.v2022-10-31.q252 Practice Test (Page 4)

Question 11

Which action should an FIU consider taking when it has information that might be useful to another FIU?

A.In accordance with Wolfsberg guidelines, submit the information to the other FIU in written form

B.Supply the information to the other FIU spontaneously as soon as the relevance of sharing the information is identified

C.Take no action until contacted by the other FIU

D.Request approval from the Egmont Group prior to sharing the information with the other FIU

Question 12

What core objective does the Egmont Group suggest would lead to an effective national Financial Intelligence Unit (FIU)?

A.The FIU must operate from physically separated premises from other law enforcement agencies and government offices.

B.The FIU meets the Egmont Group assessment criteria.

C.The FIU must be able to promote the value of the government's commitment to embed a corruption free society within the country.

D.The FIU must have absolute trust amongst national and international stakeholders before sensitive information will be exchanged with confidence.

Question 13

An EU Trust and Company Service Provider (TCSP) analyst notices some unusual activity while looking through a customer's financial statements and detailed general ledger. The customer is in the business of importing and exporting machineries. Which transaction indicator warrants further escalation to the compliance officer?

A.The payment of virtual offices services overseas.

B.The payment of company secretarial retainer fees to a foreign company in a tax efficient jurisdiction.

C.The payment of consultancy fees to unrelated companies and service providers established in a foreign jurisdiction.

D.Inter-company loans from the holding company to the subsidiary company to finance the shipment of machinery.

Question 14

What are two requirements of United States financial institutions when conducting business with an international institution as a result of the USA PATRIOT Act? (Choose two.)

A.Performing enhanced due diligence on shell banks

B.Performing due diligence on correspondent accounts

C.Complying with Special Measures issued under the USA PATRIOT Act

D.Visiting the head office of the international financial institution

Question 15

The branch manager calls the compliance officer and informs her that a law enforcement officer has just left the branch and was asking a lot of questions and left a business card.
What should the compliance officer do?

A.Verify that the reported officer was an actual authorized representative

B.File a suspicious transaction report

C.Require the branch manager to write a detailed memo about the request

D.Follow up to verify that the officer received all necessary information

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