Free Access ACAMS.CAMS.v2025-07-24.q696 Practice Test (Page 128)

Question 631

Transfers of money over the last 6 months to a corporation in a jurisdiction with strict secrecy laws triggered an alert. Which of the following should cause the most suspicion of money laundering?

A.The jurisdiction is a known tax haven.

B.The company has bearer shares.

C.The corporation director is a European citizen.

D.No financial statements have been filed for 3 years.

Question 632

A foreign bank maintains a correspondent account in the US. According to an investigation carried out by US authorities, the specific correspondent account seems to have facilitated a transaction involving tainted funds.
Which allows the US authorities to seize the funds of the foreign bank held with the US bank?

A.The FinCEN CDD Final Rule

B.The USA PATRIOT Act

C.The 6th EU AML Directive

D.Regulations of the OFAC, US Department of Treasury

Question 633

A national Financial Intelligence Unit, which is responsible for receiving, analyzing and disseminating disclosure of financial information, should consider becoming a member of what organization?

A.The Basel Committee

B.The Egmont Group

C.The Wolfsberg Group

D.The Financial Action Task Force

Question 634

A bank maintains a relationship with a customer who owns a small bakery business.
Which customer action indicates potential money laundering?

A.The customer recently wired a large amount to a foreign jurisdiction where family is located

B.The customer continually makes regular cash deposits

C.The customer has multiple bank accounts at several locations

D.The customer purchased property insurance that is twice the value of the business

Question 635

The compliance officer for a private bank has been tasked with writing a policy on how the bank will deal with intermediaries.
Which two aspects should be included in the policy in respect of intermediaries to align it with the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)

A.When an intermediary introduces clients to the bank, it is not necessary for the bank to perform due diligence on the intermediary's clients.

B.Where an intermediary introduces clients to the bank, the bank must obtain the same type of information with respect to an introduced client that would otherwise be obtained by the bank, absent the involvement of the intermediary.

C.Where an intermediary manages assets on behalf of a number of clients and is the account holder with the bank, but that intermediary does not conduct the same level of due diligence as the bank, it is necessary for the bank to undertake due diligence on the intermediary's clients.

D.Where an intermediary manages assets on behalf of a number of clients and arranges for the opening of accounts for its clients with the bank, and that intermediary is a financial institution subject to similar regulations, it is necessary for the bank to perform due diligence on the intermediary's clients.

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Question 631

Question 632

Question 633

Question 634

Question 635

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