Free Access ACAMS.CAMS.v2025-07-24.q696 Practice Test (Page 73)

Question 356

Money laundering red flags associated with money service businesses include: (Select Two.)

A.cash payments on insurance policies by a third party.

B.the same customer conducts transactions in multiple locations in a short time period.

C.repeated receipt of funds transfers from virtual currency exchanges.

D.an employee lives a lavish lifestyle supported by his or her salary.

E.two or more customers use the same identification for separate and unrelated transactions.

Question 357

What are two sources for maintaining up-to-date sanctions information? (Choose two.)

A.U.S. Department of the Treasury - Section 311 - Special Measures

B.U.S. Department of the Treasury Office of Foreign Assets Control

C.U.S. Federal Bureau of Investigation's National Security Letters

D.Financial Action Task Force's list of High Risk and Non-Cooperative Jurisdictions

Question 358

Which two factors assist a money laundering investigation that involves multiple countries? (Choose two.)

A.Law enforcement and other authorities should be allowed to establish and utilize joint investigative teams with law enforcement in other countries.

B.Every country should share all their information with foreign law enforcement and government authorities to facilitate rapid investigations.

C.Law enforcement and other authorities should not expedite information sharing between countries to ensure that all information is provided at the same time to avoid premature conclusions.

D.Law enforcement and other authorities should have access to financial information that is pertinent to the investigation.

Question 359

When should the anti-money laundering risk assessment be updated?

A.Every two years

B.After a merger or acquisition

C.When the board of directors changes

D.When instructed to by the Financial Action Task Force

Question 360

How should a financial institution respond to a verbal request from a law enforcement agency to keep an account open to assist in an investigation?

A.Agree to keep the account open

B.Request a subpoena to maintain the account

C.Request a letter on the agency's letterhead

D.Request a search warrant from the local court

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Question 356

Question 357

Question 358

Question 359

Question 360

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