Free Access ACAMS.CAMS.v2025-07-24.q696 Practice Test (Page 17)

Question 76

The branch manager calls the compliance officer and informs her that a law enforcement officer has just left the branch and was asking a lot of questions and left a business card.
What should the compliance officer do?

A.Follow up to verify that the officer received all necessary information

B.Require the branch manager to write a detailed memo about the request

C.File a suspicious transaction report

D.Verify that the reported officer was an actual authorized representative

Question 77

A law enforcement agent calls a bank anti-money laundering investigator for supporting information about a suspicious transaction report that was filed the previous month.
How should the investigator respond?

A.Share the requested information during the telephone call

B.Require a search warrant before releasing the information

C.Refer the agent to the bank's compliance officer

D.Send the information to an address provided by the agent

Question 78

According to the 5th EU Money Laundering Directive, member states require entities to apply enhanced customer due diligence measures with respect to business relationships or transactions involving high-risk third country nationals. Which are included in these requirements? (Choose three.)

A.Obtaining information on the source of funds and source of wealth of the customer and of the beneficial owner(s)

B.Obtaining information on the reasons for intended or performed transactions

C.Establishing and verifying the address of the client

D.Obtaining copies of passports for all authorized persons

E.Obtaining tax reference details for the client

F.Obtaining the approval of senior management for establishing or continuing the business relationship

Question 79

What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)

A.Incorporate suspicious activity monitoring into periodic reviews

B.Incorporate due diligence results such as customer risk ratings

C.Utilize downstream correspondents to investigate and report suspicious activity

D.Investigate and report suspicious activity only for the correspondent bank's clients

Question 80

A compliance officer learns from an Information Technology (IT) source of a potential new financial service being discussed by the new product approval committee.
What is the correct next course of action?

A.Request that the new product approval committee include the compliance officer.

B.Go to the board of directors and try to shut the new service down immediately because the committee did not communicate with the compliance officer.

C.Get as much information as possible from the source so that potential risks can be researched and a report prepared and presented to the head of marketing.

D.Start initial research into potential risks but wait until notified that the service has been approved by the committee before initiating extensive research.

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