Free Access ACAMS.CAMS.v2025-07-24.q696 Practice Test (Page 6)

Question 21

Which should be provided to the board of directors or designated specialized committee when reporting SARs/STRs?

A.All possible details of SARs/STRs filed during the reported period.

B.Statistical data regarding SARs/STRs filed during the reported period.

C.Names of all customers subject to SARs/STRs filed during the reported period.

D.Copies of all SARs/STRs filed during the reported period.

Question 22

An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier m the year. The customer received weekly electronic fund transfers from a narcotic-producing jurisdiction. While the relationship manager who opened the account is on leave for 5 weeks, the customer requests that the institution remit a substantial sum to a country that represents a high risk of money laundering. The relationship manager is a friend of the anti-money laundering specialist. What should the anti-money laundering officer do first?

A.Postpone the follow-up on the audit finding

B.File a suspicious transaction report with the competent authority

C.Suspend the transfer until the relationship manager returns

D.Investigate the transfer of funds

Question 23

Which action should be taken regarding a particular account once suspicious activity is reported by the institution?

A.Secure all supporting documentation

B.Immediately close the account

C.Notify the client that the transaction has been reported

D.Freeze the funds pending notification from the competent authority

Question 24

A close relative of a privately-owned bank's senior manager requests to open an account. Because of this relationship, the staff expedites the opening of the account without following established account-opening procedures. Applying the Basel Committee on Banking Supervision principles, which of the following poses the highest operational risk?

A.Failure to conduct proper due diligence.

B.The bank's exposure to politically exposed persons.

C.Not having appropriate information to share with Financial Intelligence Units.

D.The possibility of lawsuits that adversely affect the operations of a bank.

Question 25

A businessman requests a European private bank to open a numbered or alternate name account. According to the Basel Committee on Banking Supervision principles, which of the following is the most important question the banker should ask?

A.How much money will be deposited into the account?

B.Who will inherit the proceeds in the event of the businessman's death?

C.What account-opening date should I record'!'

D.Who will control the account?

Comment: *

Name: *

Email: *

Verification: *

talyor

Jan 18, 2026

its D .

Kaycee

Nov 01, 2025

According to the Basel Committee on Banking Supervision (BCBS) principles, knowing the true identity of the customer and the person who ultimately controls the account is a fundamental component of customer due diligence (CDD).
Even when a numbered or alternate name account is permitted, banks must still know who the beneficial owner or controller of the account is. These accounts cannot be used to obscure ownership or control — they only provide limited internal anonymity, not secrecy from regulatory or compliance requirements.
Therefore:
The banker’s key question should focus on who will control or benefit from the account, not just administrative details like the deposit amount or opening date

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