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The CAMS exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a professional organization dedicated to promoting the fight against financial crime. CAMS exam consists of multiple-choice questions covering four main areas: AML regulations and compliance, money laundering methods and techniques, conducting AML investigations, and managing AML risks. Candidates must achieve a passing score of 75% or higher to earn the CAMS Certification.

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Free PDF Quiz First-grade ACAMS CAMS - Valid Certified Anti-Money Laundering Specialists (the 6th edition) Test Pdf

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To earn the CAMS Certification, candidates must pass a rigorous exam that covers a range of topics related to AML compliance. CAMS exam is designed to test a candidate's knowledge of AML regulations, risk assessment, customer due diligence, and transaction monitoring, among other topics. Candidates must also have a minimum of 40 hours of AML-related training within the past three years to be eligible to take the exam.

ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q24-Q29):

NEW QUESTION # 24
Which scenario should be escalated as potentially suspicious activity?

Answer: D

Explanation:
A domestic business account receiving a wire transfer from an international business with no history of such activity or business needs should be escalated as potentially suspicious activity. This is because this scenario may indicate an attempt to launder money, evade taxes, or finance terrorism through cross-border transfers that have no apparent economic or lawful purpose. The lack of prior relationship or business justification for the wire transfer may also suggest that the transaction is not consistent with the customer's profile or expected activity. Therefore, this scenario should be investigated further and reported if necessary.
9 Financial & Bank Suspicious Activity Examples, Example 2.
CAMS Study Guide 6th Edition, page 40-41.
Reference: https://www.utica.edu/academic/institutes/ecii/conferences/Conducting%20a%20Money%
20Laundering%20Investigation%20-%20C%20King.pptx


NEW QUESTION # 25
A high volume of incoming wire transfers generates an alert about a client. The funds are immediately debited by cash withdrawals and outgoing wire transfers. Which information should be reviewed first to investigate this alert/case?

Answer: C

Explanation:
When a high volume of incoming wire transfers generates an alert about a client and the funds are immediately debited by cash withdrawals and outgoing wire transfers, the first information that should be reviewed to investigate this alert/case is the customer's account activity. This is because the account activity can reveal the origin, destination, purpose, frequency, and amount of the wire transfers, as well as any unusual or inconsistent patterns that may indicate money laundering or fraud. The account activity can also help to compare the wire transfers with the customer's profile, risk rating, expected behavior, and source of funds. Reviewing the account activity can help to determine if the alert is a false positive or a true positive, and if further investigation or reporting is required.
Reference:
CAMS Study Guide, 6th Edition, Chapter 4, Section 4.3.2, p. 1251
Investigating Alert/Case of High Volume Wire Transfers | CAMS Exam Prep2 Wire Transfer Red Flags: Money Laundering & Fraud Risks - Alessa3


NEW QUESTION # 26
A bank compliance officer discovers cash deposit activity inconsistent with the expected and historical cash activity within the personal accounts of the chairman of the board. The cash activity appears structured to avoid the local legal filing requirements for large cash transactions, and a suspicious transaction report (STR) was filed.
How should the compliance officer report the filing of the STR to the board of directors without revealing the existence of the filing to the subject?

Answer: B

Explanation:
The best option for the compliance officer is to follow the financial institution's established STR reporting policy, which should include procedures for reporting suspicious activity involving senior management or board members. This would ensure that the compliance officer acts in accordance with the bank's internal controls and governance, and avoids any potential conflicts of interest or breaches of confidentiality. The other options are not advisable because they could either compromise the integrity of the STR filing, expose the compliance officer to legal or reputational risks, or alert the subject of the investigation.
References:
ACAMS Study Guide for the CAMS Certification Examination, 6th Edition, Chapter 4, page 1401 ACAMS CAMS Certification Video Training Course, Module 4, Lesson 22 ACAMS CAMS Certification Practice Exam, Question 843


NEW QUESTION # 27
Which issue does the FATF special Recommendations on Terrorist Financing address?

Answer: C


NEW QUESTION # 28
Combating the Financing of Terrorism (CFT)]
A customer has held an account at a local credit institution for 10 years. The account has received deposits twice weekly for the same amount and has never shown signs of suspect behavior. Monitoring software indicated that in the past few months the account has received several large deposits that were not in line with the account history.
When asked, the customer states she recently sold a piece of property, which is supported with a proof of sale.
Which of the following should the compliance officer do next?

Answer: C

Explanation:
The decision of whether or not to file a suspicious transaction report (also known as a suspicious activity report or SAR in the United States) often involves weighing the aggravating and mitigating factors arising from the research conducted during the investigative process. The final decision should be documented and supported by the reasoning that was used to make the determination. The transaction has already been investigated which led to the requesting of the document. The document checked out and the question did not specify the document was suspicious, therefore we can conclude an STR does not need to be completed and thus should move to document the reason why an STR wasn't completed.


NEW QUESTION # 29
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