Free Access ACAMS.CAMS.v2025-01-18.q542 Practice Test (Page 7)

Question 26

What is the goal of the Egmont Group in providing a forum for Financial Intelligence Units (FIUs) around the world?

A.To improve international laws to combat money laundering and the financing of terrorism and foster the implementation of domestic programs.

B.To provide a forum for FIUs to improve cooperation in the fight against money laundering and the financing of terrorism and to foster the implementation of domestic programs in this field.

C.To improve communication with law enforcement in the fight against money laundering and the financing of terrorism and to foster the implementation of domestic programs in this field.

D.To improve cooperation with state and federal governments in the fight against money laundering and the financing of terrorism and to foster the implementation of domestic programs in this field.

Question 27

A large cash deposit most likely reflects money laundering when it is:

A.by a customer who operates a cash-based business.

B.from a customer who has never conducted a transaction in cash before.

C.followed by an immediate wire transfer to an offshore secrecy haven.

D.transacted in segments smaller than the reporting thresholds at various times during the day.

Question 28

In general, what is an element that a financial institution or business does not have to specifically address in an anti-money laundering program?

A.An ongoing employee training program

B.A description of its OFAC program to address government watch list screening

C.A system of internal policies, procedures and controls

D.A designated compliance officer with day-to-day oversight over the AML program

Question 29

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 determine how extensive and well-trained the compliance staff is

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

D.It should perform a comprehensive risk analysis

Question 30

What are two requirements with respect to supporting documentation that is used to identify potentially suspicious activity, according to Financial Action Task Force? (Choose two.)

A.It must be retained for at least five years

B.It must only be released to the government through a subpoena process

C.It must be retained for at least seven years

D.It must be kept in a manner so that it can be provided promptly

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Question 26

Question 27

Question 28

Question 29

Question 30

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