Acams CAMS Exam Dumps

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Question # 1

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 accountopening 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 possibility of lawsuits that adversely affect the operations of a bank.
C. The bank's exposure to politically exposed persons.
D. Not having appropriate information to share with Financial Intelligence Units.

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Question # 2

A division anti-money laundering officer for a financial institution has been conducting a monthly selfassessment. The officer reviews the accounts opened for compliance with a long standing Know Your Customer policy. The self-assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year.Which of the following is the next course of action for the anti-money laundering officer to take?  

A. Inform the Board promptly of the Know Your Customer policy trend over the last 6 months.
B. Determine if there is a readily identifiable cause for the deficiencies.
C. Implement a revision to the account-opening training program.
D. Revise the policy to simplify Know Your Customer compliance before the report is issued.

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Question # 3

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

A. commodities traders.
B. money services businesses.
C. hawala operators.
D. real estate agents. 

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Question # 4

A suspicious transaction report filed on a car dealer structuring deposits initiates a criminal investigation. The dealer changes branches and begins placing transactions with a frontline employee to whom the dealer has given numerous gifts.This employee handles all of the dealer's structured deposits and does not report the suspicious activity internally.The competent authority has advised the anti-money laundering specialist to avoid tipping off theemployee until the investigation is finalized.What action should the specialist take next?  

A. Recommend the immediate termination of the employee.
B. Advise that the dealer's accounts should be closed.
C. Consult with senior management and the legal advisor.
D. Inform the institution's regulatory agency of the situation.

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Question # 5

An anti-money laundering expert is hired by a new Internet bank to assess the money laundering threatto the bank. Because it is an o line bank the most important recommendation for the expert to make isthat the bank

A. limit the amount which can be processed per transaction.
B. ensure that prospective new customers can be properly identified.
C. set up automated programs to analyze transaction for money laundering activity.
D. ensure that a firewall is set up to protect the transactions.

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