Free Access ACAMS.CAMS.v2024-03-23.q386 Practice Test (Page 49)

Question 236

Under the Egmont Group Principles, information exchange among financial intelligence units (FlUs) should be conducted:

A.with set limits on the amount of financial and administrative information provided.

B.only if the status of the foreign FIU is related to law enforcement.

C.freely, spontaneously, and upon request, on the basis of reciprocity.

D.without the expectation of reciprocity on how the information will be used.

Question 237

What is a method of placement that can be used by a money launderer in a deposit taking institution?

A.Depositing cash into the money launderer's account

B.Sending a large number of funds transfers between accounts

C.Withdrawing large amounts of cash from the money launderer's account

D.Depositing cashier's checks and money orders into the money launderer's account

Question 238

Which precaution will a money launderer take to avoid detection when sending electronic transfers?

A.Misspelling names to foil watch-list filtering systems

B.Using cover payments for all electronic transfers

C.Varying the amounts of transactions and using reputable organizations

D.Using round dollar amounts, so funds appear to be gifts or loans

Question 239

An anti-money laundering officer for a financial institution has been conducting a monthly self-assessment.
The officer reviews the accounts increase in compliance with a long standing know your Customer policy.
The self-assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year. What is the nest course of action for the anti-money laundering officer to take?

A.Revise the policy to simplify Know Your Customer compliance before the report is issued

B.Implement a revision to the account-opening training program

C.Inform the Board of Directors promptly of the Know Your Customer policy trend over the last six months.

D.Determine if there is a readily identifiable cause for the deficiencies

Question 240

What are some useful tools or methods in conducting an internal AML investigation? Choose 3 answers

A.Reviewing documents, particularly of relevant accounts

B.Interviewing knowledgeable employees of the institution

C.Subpoenaing the owners of the relevant accounts

D.Exploring leads through internet searches

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