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High Pass Rate CAMS Exam Questions to Pass CAMS Exam

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ACAMS CAMS (Certified Anti-Money Laundering Specialists) Exam is a globally recognized certification program for professionals working in the field of AML (Anti-Money Laundering) and financial crime prevention. Certified Anti-Money Laundering Specialists certification program is designed to assess the knowledge and skills of individuals working in the financial industry in identifying and preventing money laundering and terrorist financing activities. The CAMS certification is awarded by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading international organization in the field of AML and financial crime prevention.

To be eligible for the ACAMS CAMS Certification Exam, candidates must have a minimum of 40 qualifying credits, which can be earned through education, work experience, or professional development activities. Candidates must also agree to abide by the ACAMS Code of Professional Conduct and Ethics. CAMS exam itself consists of 120 multiple-choice questions and must be completed within three and a half hours.

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In this knowledge-dominated world, the combination of the knowledge and the practical working competences has been paid high attention to is extremely important. If you want to improve your practical abilities you can attend the CAMS certificate examination. Passing the CAMS Certification can prove that you boost both the practical abilities and the knowledge and if you buy our CAMS latest question you will pass the CAMS exam smoothly.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q715-Q720):

NEW QUESTION # 715
Which are the requirements of the Filth AML Directive of the EU? {Select Two.)

A. Promoting the record keeping obligations of banks to the maximum amount of data necessary for the purposes of AML investigations
B. Providing information access to financial intelligence units according to the differences in the nature of their functions, competences, and powers
C. Extending AML rules to entities that provide virtual currency services
D. Developing a variant approach m the strategy for the treatment of organized crime and terrorism threats
E. Broadening the criteria for assessing high-risk third countries

Answer: A,C

Explanation:
A: Promoting the record-keeping obligations of banks to the maximum amount of data necessary for the purposes of AML investigations: "The Fifth AML Directive emphasizes that record-keeping obligations of banks must extend to the maximum amount of data necessary for the purposes of anti-money laundering investigations" (CAMS Manual, 6th Edition, page 79).
C: Extending AML rules to entities that provide virtual currency services: "The 5AMLD expands the scope of the EU's anti-money laundering rules to include virtual currency exchange platforms and custodian wallet providers" (CAMS Manual, 6th Edition, page 80).
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NEW QUESTION # 716
Which example describes the vulnerability of the securities sector for money laundering?

A. A broker-dealer must have a customer identification program in place
B. Broker-dealers generally have a higher percentage of inexperienced staff
C. Compensation for broker-dealers is generally based on commissions
D. A non-U.S. person seeks to open a brokerage account with a U.S. broker-dealer

Answer: C

NEW QUESTION # 717
A compliance officer at a large financial institution has been tasked by senior management to lead a team in an internal review and potential revision of the institution's customer onboarding program following a regulatory enforcement action of another institution.
Which step should the compliance officer perform first?

A. Revising training materials for frontline staff
B. Resolving substantive discrepancies in customer verification
C. Conducting enhanced due diligence on high risk customers
D. Reviewing the institution's risk assessment

Answer: D

Explanation:
The compliance officer should perform the first step of reviewing the institution's risk assessment before implementing any changes to the customer onboarding program. The risk assessment is a key component of the AML compliance program, as it identifies and measures the institution's exposure to money laundering and terrorist financing risks. The risk assessment should be updated regularly and reflect the institution's products, services, customers, geographic locations, and delivery channels. By reviewing the risk assessment, the compliance officer can determine the adequacy and effectiveness of the current customer onboarding program and identify any gaps or weaknesses that need to be addressed. The compliance officer can also benchmark the institution's risk assessment against the regulatory expectations and best practices in the industry.
The other steps are also important, but they should be performed after the risk assessment review. Revising training materials for frontline staff, conducting enhanced due diligence on high risk customers, and resolving substantive discrepancies in customer verification are all part of the customer onboarding program, but they depend on the risk assessment to provide the appropriate level of controls and procedures. For example, the training materials should reflect the risk assessment results and the revised customer onboarding policies. The enhanced due diligence should be applied to customers who pose a higher risk according to the risk assessment criteria. The customer verification should be consistent with the risk assessment and the customer identification program.
References:
AML KYC Onboarding Lifecycle Process Flow | Guide - AdvisoryHQ
New EBA AML Guidelines on the use of Remote Customer Onboarding Solutions - Bird & Bird KYC Onboarding Process 2023 - AML requirements - Sumsub Review of any AML/CFT program begins with the Risk Based Approached. It should first check the internal system to identify risk factors and design program accordingly.

NEW QUESTION # 718
FATF recommends the incorporation of some measures in customer due diligence (CDD) programs including:

A. identifying the number of beneficial owners without the verification of their true identity.
B. conducting ongoing due diligence on the business relationship and monitoring of transactions.
C. identifying the products and services and their suitability to customers.
D. conducting the risk assessment of products and services.

Answer: B

Explanation:
According to the FATF Recommendation 10, financial institutions should conduct ongoing due diligence on the business relationship and scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution's knowledge of the customer, their business and risk profile, including, where necessary, the source of funds. This is one of the core measures of customer due diligence (CDD) that aim to prevent and detect money laundering and terrorist financing risks.
References: = The main reference for this question is the document titled "International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation - The FATF Recommendations" published by the FATF in February 2018. You can access it by clicking here. You can also find more information about the CDD measures and the risk-based approach on the FATF website, the CFATF website, the Central Bank of Ireland website, and the Medium blog.

NEW QUESTION # 719
Which three characteristics make non-profit organizations vulnerable to misuse for terrorist financing?

A. Having access to a considerable sources of funds
B. Enjoying the public trust
C. Having a global presence for national and international operations and financial transactions
D. Being listed as government nonprofit organization

Answer: A,B,C

NEW QUESTION # 720
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