Free Access ACAMS.CAMS.v2025-07-24.q696 Practice Test (Page 28)

Question 131

An automotive parts company in South America sends multiple $500,000 wire transfers per week to ABC Holdings Ltd. in Asia referencing payment for silk flower shipments. Research reveals Sunrise Holdings, Ltd is registered in the British Virgin Islands with no available ownership information.
What are two red flags that indicate how trade-based money laundering could be occurring in this instance?
(Choose two.)

A.Significant discrepancies appear between the description of the commodity on the bill of lading and the invoice

B.The packaging is inconsistent with the commodity or shipping method

C.The type of commodity being shipped appears inconsistent with the exporter or importer's regular business activities

D.The transaction involves the use of front (or shell) companies

Question 132

According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professions include

A.commodities traders.

B.money services businesses.

C.hawala operators.

D.real estate agents.

Question 133

What do Financial Action Task Force (FATF)-style regional bodies do for their members to help combat money laundering and terrorist financing?

A.They supervise member country financial institutions relating to anti-money laundering and terrorist financing

B.They assist member countries in penalizing entities that violate FATF standards and recommendations

C.They provide technical assistance to members in implementing FATF recommendations

D.They work with members on areas of concern outside of anti-money laundering and terrorist financing

Question 134

To what extent should senior management and the Board of Directors be involved in the filing of any STR?

A.They should review and approve the filing of all STRs

B.They should be the only designated individuals to communicate with law enforcement

C.They should be given copies of all STRs filed by the institution

D.They should be informed of all significant STRs and the numbers and trends of the filings

Question 135

Which statement identifies one of the duties of a government Financial Intelligence Unit?

A.It serves as the central agency for the receipt of disclosures filed by reporting entities.

B.It administers and enforces economic and trade sanctions based on a government's foreign policy and national security goals.

C.It supervises and regulates banking institutions to ensure the safety and soundness of the nation's banking and financial system.

D.It prosecutes suspected money launderers and terrorist financiers based on financial institution suspicious transaction report filings.

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