Free Access ACAMS.CAMS.v2025-01-18.q542 Practice Test (Page 48)

Question 231

A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, had totaled about as much as the customer intended to deposit. What should the junior account manager do?

A.Offer the customer a more secure method of depositing in the hope of learning something more during the conversation

B.Close the account

C.File a suspicious transaction report with the Financial Intelligence Unit

D.Notify the anti-money laundering specialist of his bank, but do not call the customer

Question 232

As a result of an audit, a policy exception was identified that had been approved by the compliance officer.
The auditor determined that the policy exception is a violation of a regulatory requirement.
What should the auditor do?

A.Consult with legal counsel to determine if the approval of the policy exception was acceptable.

B.Advise the compliance officer on how to appropriately respond to policy exceptions.

C.Include the regulatory violation in the audit report and recommend the compliance officer be subject to disciplinary action by the board of directors.

D.Include the regulatory violation in the audit report and report it to the board of directors.

Question 233

The ultimate goal of economic sanctions is to:

A.protect the reputation of the country.

B.prevent terrorists from profiting from trade.

C.protect national security.

D.reduce the profits of sanctioned countries.

Question 234

What is a primary responsibility of a financial intelligence unit?

A.Provide expertise to Egmont working groups including the development of new techniques to launder money.

B.Publish suspicious activity reports so that entities subject to money laundering obligations are aware of the identities of criminals.

C.Act as an intermediary between the entities subject to money laundering obligations and law enforcement agencies.

D.Legislate regulations that enhance the effectiveness of AML and sanctions compliance.

Question 235

Why would a credit card account likely not be used in the placement stage of money laundering?

A.Customer identification is required

B.Credit cards can access ATMs globally

C.Credit refunds have a waiting period

D.Cash payments are generally restricted

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Question 231

Question 232

Question 233

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