Free Access ACAMS.CAMS.v2025-01-18.q542 Practice Test (Page 84)

Question 411

Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)

A.File a suspicious transaction report on the account owner(s)

B.Maintain account records for at least five years after the request expires

C.Ask for a written request from the law enforcement agency that defines the duration

D.Stop filing suspicious transaction reports because law enforcement will be monitoring the account

Question 412

Which two factors assist a money laundering investigation that involves multiple countries? (Choose two.)

A.Law enforcement and other authorities should not expedite information sharing between countries to ensure that all information is provided at the same time to avoid premature conclusions.

B.Law enforcement and other authorities should have access to financial information that is pertinent to the investigation.

C.Law enforcement and other authorities should be allowed to establish and utilize joint investigative teams with law enforcement in other countries.

D.Every country should share all their information with foreign law enforcement and government authorities to facilitate rapid investigations.

Question 413

What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking?
(Choose two.)

A.At least one person, aside from the person sponsoring the relationship, should approve the correspondent relationship.

B.Correspondent banking is an inherently high risk business and all correspondent bank relationships should be reviewed on an annual basis.

C.Factors such as politically exposed person involvement and downstream (nested) correspondents increase the risk inherent in a correspondent relationship.

D.An Institution may assign a low risk rating to a correspondent bank located in a jurisdiction deemed to have an adequate AML environment (e.g., Financial Action Task Force member country) without needing to consider other factors.

Question 414

What is one of the indicia of a Black Market Peso Exchange?

A.A large deposit of pesos converted into U.S. dollars

B.An illegal entity that exchanges pesos for U.S. dollard for illegal immigrants

C.A transfer of U.S. dollars to Central or Sourth America to be converted into pesos

D.A wire transfer from a third party not connected with a transaction

Question 415

A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank's jurisdiction.
Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)

A.Identify multiple wire transfers initiated by casas de cambio to jurisdictions outside of Mexico that bear no apparent business relationship with that casa de cambio

B.Identify the money laundering scheme and submit a suspicious transaction report

C.Identify if there is a decrease in the sale of large denomination U.S. bank notes to casas de cambio by the bank

D.Identify deposits by casas de cambio that include third-party items including sequentially numbered monetary instruments

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Question 411

Question 412

Question 413

Question 414

Question 415

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