Most Recent Acams CAMS Exam Questions & Answers

Prepare for the Acams Certified Anti-Money Laundering Specialist exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the Acams CAMS exam and achieve success.

The questions for CAMS were last updated on Nov 19, 2024.

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Question No. 1

Which key factor would result in the decision for a financial institution (FI) to exit a client relationship?

AAfter assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.

BThe client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available.

CClosing the client accounts will help reduce the number of transaction monitoring alerts.

DClient transactions generate ongoing transaction monitoring alerts that did not result in any SAR/STR filings.

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Correct Answer: A

Question No. 2

Historically, which vehicle is most often used to hide beneficial ownership?

AProfessional association

BAn offshore company

CA limited liability partnership

DA charitable organization

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Correct Answer: D

Question No. 3

Which three statements are true about on-line banking offering a significant money laundering risk to a financial institution?

AThe nature of on-line banking can make it difficult to establish who is controlling the account

BThe ease of access through the internet enables cross border movement of funds

CDue to client confidentiality, information collected on-line cannot be shared with law enforcement agencies on mere suspicion

DThe speed of electronic transaction enables execution of multiple complex transactions within short time frame

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Correct Answer: A, B, D

Question No. 4

Which are the two most common controls a financial institution (FI) uses to identify suspicious money-laundering activity? (Choose two.)

ASanctions screening

BAdverse media information

CGovernmental subpoena

DSearch warrant

ETransaction monitoring rules

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Correct Answer: B, E

Question No. 5

Which key aspect of the Office of Foreign Assets Control's extraterritorial reach specifically relates to prohibited transactions?

AProhibit or reject unlicensed trade and financial transactions with specified countries, entities, and individuals

BProhibit or reject licensed trade and financial transactions with specified countries, entities and U.S. individuals

CProhibit or reject licensed trade and financial transactions with specified countries, entities and non-U.S. individuals

DProhibit or reject unlicensed foreign trade and financial transactions with specified countries, entities, and individuals.

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Correct Answer: A

'Prohibit or reject unlicensed trade and financial transactions with specified countries,

entities, and individuals. '

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