Free Access ACAMS.CAMS.v2025-07-24.q696 Practice Test (Page 104)

Question 511

What does the Financial Action Task Force 40 Recommendations address on transparency of beneficial ownership?

A.Gatekeepers

B.Correspondent banking

C.Payable through accounts

D.Legal persons and arrangements

Question 512

In 2004, Consolidated KYC Risk Management was issued by the Basel Committee on Banking Supervision (BCBS). What is a key message in this document?

A.KYC Risk Management required a yearly consolidation effort

B.Policies and procedures should be designed not merely to comply strictly with all relevant laws and regulations

C.Consolidated KYC risk management for a group is critical and trumps jurisdictional rules hat limit information sharing

D.KYC Risk Management means as established decentralized process for promulgating policies and procedures

Question 513

Which key aspect of the Office of Foreign Assets Control's extraterritorial reach specifically relates to prohibited transactions?

A.Prohibit or reject unlicensed trade and financial transactions with specified countries, entities, and individuals

B.Prohibit or reject licensed trade and financial transactions with specified countries, entities and U.S.
individuals

C.Prohibit or reject licensed trade and financial transactions with specified countries, entities and non-U.S.
individuals

D.Prohibit or reject unlicensed foreign trade and financial transactions with specified countries, entities, and individuals.

Question 514

Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the world they serve.
What is one of the methods they use to understand these risks?

A.They require member countries to develop statistical metrics over money laundering and terrorist financing crimes

B.They require participating financial institutions of their members to file suspicious transaction reports to the regional body

C.They conduct global research on money laundering and terrorist financing trends and report their findings in their own typologies report

D.They conduct regional-level research and analysis of the money laundering and terrorist financing methods and trends using standards and templates used for FATF typologies reports

Question 515

Which is the most severe consequence for a financial institution if the regulator finds it is in breach of AML regulatory obligations?

A.Loss of license

B.Civil sanctions

C.Monetary fines

D.Negative reputation

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Question 511

Question 512

Question 513

Question 514

Question 515

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