Free Access ACAMS.CAMS.v2024-12-05.q439 Practice Test (Page 64)

Question 312

An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to discuss the legal request with the customer. The account officer intends to discuss points related to the investigation during the meeting.
What should an anti-money laundering specialist recommend?

A.Limit discussions about the investigation with the customer and by satisfied that the account manager has provided proper notice to the customer

B.Cancelled the meeting as he has already behaved inappropriately by alerting to the investigation

C.Let the account manager's manager know what conversations have taken place with the customer and document the account file accordingly

D.Discuss all the points being investigated by law enforcement to ensure the correspondent bank is well prepared when approached

Question 313

When and how should an institution appraise the AML risk of a newly developed product?
Choose 3 answers

A.The institution should evaluated where, how and to what extent the product is going to be used

B.The institution should review previous administrative actions to determine if the product has created problems for other institutions

C.The institution should roll the product out on a preliminary basis to determine what risks develop with regard to the product

D.The institution should request the Compliance Officer to review and evaluate the AML risk prior to the product going live

Question 314

How do payable through accounts (PTAs) differ from normal foreign correspondent accounts?

A.The customers can contact the correspondent bank directly to send wire transfers

B.The customers do not have to worry about sanctions list screening such as OFAC

C.The customers can hide their identity through the use of cover payments in U.S. dollars

D.The customers have the ability to directly control funds at the correspondent bank

Question 315

What is the primary action a financial institution should take before formulating its anti-money laundering program?

A.It should consult with its correspondent banks to determine the nature and extent of their AML programs

B.It should perform a comprehensive risk analysis

C.It should determine how extensive and well-trained the compliance staff is

D.It should ensure that its training modules for all employees cover all relevant AML issues

Question 316

You need to deploy cognitive search.
You provision an Azure Search service.
What should you do next?

A.Search by using the .NET SDK.

B.Load data.

C.Search by using the REST API.

D.Create an index.

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Question 312

Question 313

Question 314

Question 315

Question 316

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