Free Access ACAMS.CAMS.v2024-03-23.q386 Practice Test (Page 44)

Question 211

A compliance officer provides an overview of the bank's anti-money laundering program to a group of new tellers during employee orientation.
Which training element should be delivered to this audience?

A.Past check fraud losses incurred by the financial institution

B.Large cash transaction reporting procedures

C.The financial institution's surprise cash audit policy

D.Results of recent risk assessments

Question 212

What is an indicator of suspicious activity?

A.Large and frequent credit balances on a credit card resulting in request for refunds

B.A convenience store that brings in $20s and $10s and requests small bills and change

C.A customer who pay back a late loan all at once after collecting on a bad debt

D.An online retailer that uses a third-party payment processor to facilitate its transactions

Question 213

In relationship to life insurance business, the third European Directive states that Member States may allow the identity verification of the beneficiary under the policy after the business relationship has been established, but before which events?

A.At or before the policy is issued to the beneficiary by the insurance company

B.At or before a premium payment has been accepted for the policy purchased

C.At or before the time of payout or before the beneficiary intends to exercise rights vested under the policy

D.At or before 30 days of the relationship being established under the policy

Question 214

Which is an extraterritorial function of Office of Foreign Assets Control sanctions?

A.Interrupting the Ell's economic and financial relations with third countries

B.Implementing targeted measures such as arms embargoes, travel bans, and financial or commodity restrictions

C.Prohibiting transactions and requiring the blocking of assets of designated persons and organizations

D.Requiring all appropriate elements of the financial services industry to report potential money laundering

Question 215

A comprehensive set of risk-based guidelines for maintaining business relationships is being developed.
Which situation indicates that the institution should terminate the relationship with a client?

A.The client does business in countries with active terrorist organizations.

B.The client conducts international financial transactions exceeding U.S. $500 million.

C.The client exceeds the criteria of an acceptable risk model created by another institution that is not similar in size and complexity.

D.The client exceeds the criteria of an acceptable risk model created by the institution and does not perform acceptable remedial actions.

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Question 212

Question 213

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Question 215

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