Free Access ACAMS.CAMS.v2025-07-24.q696 Practice Test (Page 68)

Question 331

Which statements regarding the USA PATRIOT ACT best describe key aspects that have extraterritorial reach? (Choose three.)

A.It allows for the US Attorney General to subpoena records from a foreign bank with US correspondent accounts, including those that are located outside the US.

B.It allows foreign banks to voluntarily designate a registered agent in the US to accept service of subpoenas.

C.It allows the Secretary of the Treasury to order a US financial institution (FI) to close a correspondent account when a subpoena has not been responded by a foreign bank in a timely manner.

D.It obliges the government to trace the origin of the funds when a seizure of assets occurs in a correspondent account that has been opened and maintained for a foreign bank in the US.

E.It excludes as foreign FIs businesses that would be considered broker-dealers, money transmitters, and currency exchangers.

F.It allows federal banking supervisors to require records of the identity of the owners of a foreign bank from a Fl operating in the US.

Question 332

When must a United States (U.S.) bank block or reject an international funds transfer when there is an Office of Foreign Assets Control designated party to the transaction?

A.Only if a non-U.S. person or entity is the ultimate beneficiary

B.Only if a U.S. person or entity is the ultimate beneficiary

C.Only if the U.S. bank's correspondent informs it of the involvement of the designated party

D.Only if the U.S. bank is involved in the funds transfer

Question 333

Which red flags should be considered prior to establishing a relationship with a third party? (Select Two.)

A.The third party has a lack of anti-corruption compliance clauses in agreements.

B.The third party's amount to be paid for goods and services appears to be reasonable.

C.The third party has requested unusual payment or billing procedures.

D.The third party has a declaration of non-family or business ties with government officials.

E.The third party has sufficient capability to provide the services or goods for which it is being engaged.

Question 334

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 335

A financial institution (FI) has decided to revamp its compliance program to be more risk-based. Which option should the FI use as part of the new risk-based compliance program?

A.Leadership-based

B.Data-based

C.Transaction-based

D.Predictive-based

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Question 331

Question 332

Question 333

Question 334

Question 335

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