NEW EXCELLECT CAMS PASS RATE 100% PASS | HIGH-QUALITY PASSING CAMS SCORE FEEDBACK: CERTIFIED ANTI-MONEY LAUNDERING SPECIALISTS

New Excellect CAMS Pass Rate 100% Pass | High-quality Passing CAMS Score Feedback: Certified Anti-Money Laundering Specialists

New Excellect CAMS Pass Rate 100% Pass | High-quality Passing CAMS Score Feedback: Certified Anti-Money Laundering Specialists

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ACAMS CAMS certification exam is a valuable credential for any AML professional looking to enhance their knowledge and expertise in the field. Certified Anti-Money Laundering Specialists certification is recognized globally as the gold standard for AML certifications and is highly respected by regulators, law enforcement agencies, and financial institutions. Passing the CAMS exam demonstrates an individual's commitment to professional excellence and their dedication to staying current with the latest AML trends and regulations.

The CAMS Exam is designed to evaluate the knowledge and expertise of candidates in the field of AML compliance. CAMS exam covers four key areas, including risk assessment, AML program management, compliance and investigations, and AML regulations. CAMS exam consists of 120 multiple-choice questions that need to be completed within four hours. The test is computer-based and can be taken at a testing center or remotely. Passing the CAMS Exam requires a score of 75% or higher, and the certification is valid for three years.

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Who Is It for?

The CAMS endorsement is ideal for those seeking to signify a high understanding of international AML/CFT principles. Obtaining this certification will help recognize you as an AML/CFT authority and prevent institutional financial crime risks.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q774-Q779):

NEW QUESTION # 774
Which situation would require enhanced due diligence be performed on a customer?

  • A. A prospective customer recently started and incorporated a new business.
  • B. Company ownership is held in bearer share form.
  • C. The low-risk rating for a customer has not changed since the relationship was established 5 years ago.
  • D. A customer closes their store location and opens a new store location across town.

Answer: B

Explanation:
Explanation
Company ownership is held in bearer share form. Bearer share ownership can make it difficult to identify the actual owners of a company and is therefore considered a high risk for money laundering or terrorist financing.
Enhanced due diligence measures may include obtaining additional identification and ownership information, conducting more frequent reviews of the account, and monitoring transactions more closely.
Reference: Certified Anti-Money Laundering Specialist (the 6th edition) Study Guide, Chapter 6, "Customer Due Diligence (CDD) and Know Your Customer (KYC)", page 115.


NEW QUESTION # 775
Using the customer profile and expected activity information, a financial institution should be able to identify transactions that are difficult to:

  • A. be strategically viable.
  • B. make viable profitability.
  • C. cross verify.
  • D. make economic sense

Answer: D

Explanation:
Using the customer profile and expected activity information, a financial institution should be able to identify transactions that are difficult to make economic sense. Transactions that don't make economic sense may be suspicious, and should be investigated further to determine if they may be related to money laundering or other illicit activities. For example, if a customer is profiting from a series of transactions that don't make economic sense, such as buying and selling the same stock multiple times in a short period of time, then this could be a sign of money laundering or other illicit activities.


NEW QUESTION # 776
Which information should be gathered as part of enhanced due diligence (EDD) for a high-risk customer?

  • A. Personal references
  • B. Explanations for changes in marital status
  • C. Plans for traveling in business trips
  • D. Details on individuals with control over the account

Answer: D

Explanation:
According to the CAMS Study Guide, EDD is a higher level of scrutiny applied to customers who pose a greater risk of money laundering or terrorist financing. EDD may include obtaining additional information on the customer's identity, source of funds, businessactivities, beneficial owners, and expected transactions.
Details on individuals with control over the account are relevant for EDD, as they may indicate the involvement of politically exposed persons (PEPs), sanctioned individuals, or other high-risk entities.
Therefore, this information should be gathered as part of EDD for a high-risk customer.
CAMS Study Guide, 6th Edition, Chapter 4, page 121.
Reference: http://sanctionscanner.com/knowledge-base/customer-due-diligence-cdd-15


NEW QUESTION # 777
A suspicious transaction report has been filed on an account owned by the wife of the bank's ChiefExecutive Officer. Which of the following is the most important consideration when deciding whether to recommend closing the account?

  • A. Customer relations
  • B. Requests from the competent authority
  • C. Chief Executive's reputational risk
  • D. The institution's anti-money laundering policy

Answer: D

Explanation:
The most important consideration when deciding whether to recommend closing the account is the institution' s anti-money laundering policy. This is because the policy should provide clear and consistent criteria for account closure decisions, based on the risk assessment, the nature and severity of the suspicious activity, the customer due diligence information, and the legal and regulatory obligations of the institution. The policy should also ensure that the account closure process is independent, objective, and transparent, and that it does not compromise the confidentiality of the suspicious transaction report or the investigation.
ACAMS Study Guide for the CAMS Certification Examination, 6th Edition, Chapter 5, Section 5.4.2, page
1971
ACAMS CAMS Certification Video Training Course, Module 5, Lesson 5.4, video time 9:00-10:302 ACAMS CAMS Certification Practice Exam, Question 145, page 2863


NEW QUESTION # 778
An organization uses an automated surveillance system that generates a very large volume of anti-money laundering alerts. The monthly volume of alerts has increased over the last year causing the compliance staff to fall significantly behind reviewing the alerts. As a result, the system settings are under review to determine if they are appropriate.
Which action should be included in the evaluation of system settings?

  • A. Flag filters with no history of generating an alert for removal
  • B. Calibrate parameters based on staffing capabilities to clear alerts
  • C. Compare settings to organizations within its peer group
  • D. Review parameter settings based on the latest risk assessment

Answer: D

Explanation:
Reviewing parameter settings based on the latest risk assessment should be included in the evaluation of system settings for anti-money laundering alert surveillance. This is because parameter settings determine the thresholds and criteria for generating alerts based on the risk profile of the customers, products, services, channels, and jurisdictions involved in the transactions. A risk assessment is a periodic and comprehensive analysis of the potential money laundering and terrorist financing risks faced by an organization, and it should inform the design and implementation of an effective anti-money laundering program, including the alert surveillance system. By aligning the parameter settings with the risk assessment, an organization can ensure that the system is capturing the most relevant and high-risk transactions, and reducing the number of false positives or irrelevant alerts.
References:
CAMS Study Guide 6th Edition, page 37-38.
Implementing AML Transaction Monitoring Systems: Critical Considerations, page 2-3.
3 techniques to improve AML transaction monitoring strategies, page 2.


NEW QUESTION # 779
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