CAMS Updated Exam Dumps [2022] Practice Valid Exam Dumps Question
CAMS Sample with Accurate & Updated Questions
About CAMS Designation
The CAMS certification is well-known around the globe for being the gold standard among Anti-Money Laundering validations which outlines the main aspects of money laundering and its prevention. What is more, such a certificate helps in encouraging a culture of compliance in organizations and demonstrating one's dedication to a structured risk-based approach. It also helps in meeting accepter anti-money laundering training requirements while rewarding and retaining top performers. Finally, the certification also aids in successfully safeguarding against financial damage.
The benefit in Obtaining the CAMS Exam Certification
- Proving their AML experience to examiners and regulators
- ACAMS conducted a survey recently and the findings were pretty interesting on average, professionals who had their ACAMS made $25,000 more than their colleagues who did not have the CAMS certification!
- Protecting their company from money laundering threats and minimize money crime risks
- Increasing their skilled worth through a higher understanding of financial crime detection and hindrance techniques
- Meeting mandated AML training needs through preparation and study
NEW QUESTION 238
A customer living in a high-risk jurisdiction makes frequent, large cash deposits at a bank. The same customer sends small wire transfers to unrelated parties in other high-risk jurisdictions.
What are two red flags that may indicate money laundering? (Choose two.)
- A. The bank allows cash deposits
- B. Wire transfers are to high-risk jurisdiction
- C. The client resides in a high-risk jurisdiction
- D. Large cash deposits are from a high-risk jurisdiction
Answer: B,D
NEW QUESTION 239
Which statement is true about when an institute becomes aware that a particular employee is under investigation by law enforcement as a result of a subpoena or warrant?
- A. The institute has a duty as an employer to inform the employee he or she is under investigation by law enforcement, buy must not inform them that a warrant or subpoena has been received
- B. If an independent investigation provides grounds to interview the employee, they can be interviewed and, if necessary, terminated buy not advised that they are under investigation
- C. The employee can and should be interviewed, as well as notified of the investigation to demonstrate the seriousness of the offence and to get the employee's full attention and cooperation
- D. Under no circumstances can the employee be interviewed by the institution without the consent of law enforcement for fear of tipping the employee off
Answer: C
NEW QUESTION 240
You need to build a solution to monitor Twitter. The solution must meet the following requirements:
* Send an email message to the marketing department when negative Twitter messages are detected.
* Run sentiment analysis on Twitter messages that mention specific tags.
* Use the least amount of custom code possible.
Which two services should you include in the solution? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. Azure Databricks
- B. Azure Functions
- C. Azure Logic Apps
- D. Azure Stream Analytics
- E. Azure Cognitive Services
Answer: C,D
Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/azure/stream-analytics/streaming-technologies
https://docs.microsoft.com/en-us/azure/stream-analytics/stream-analytics-twitter-sentiment-analysis-trends
NEW QUESTION 241
A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, that totaled about as much as the customer intended to deposit.
What should the junior account manager do?
- A. File a suspicious transaction report with the Financial Intelligence Unit
- B. Notify the anti-money laundering specialist of his bank, but do not call the customer
- C. Close the account
- D. Offer the customer a more secure method of depositing in the hope of learning something moreduring the conversation
Answer: B
NEW QUESTION 242
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You have Azure IoT Edge devices that generate streaming data.
On the devices, you need to detect anomalies in the data by using Azure Machine Learning models. Once an anomaly is detected, the devices must add information about the anomaly to the Azure IoT Hub stream.
Solution: You deploy Azure Functions as an IoT Edge module.
Does this meet the goal?
- A. Yes
- B. No
Answer: B
Explanation:
Instead use Azure Stream Analytics and REST API.
Note. Available in both the cloud and Azure IoT Edge, Azure Stream Analytics offers built-in machine learning based anomaly detection capabilities that can be used to monitor the two most commonly occurring anomalies:
temporary and persistent.
Stream Analytics supports user-defined functions, via REST API, that call out to Azure Machine Learning endpoints.
References:
https://docs.microsoft.com/en-us/azure/stream-analytics/stream-analytics-machine-learning-anomaly-detection
NEW QUESTION 243
What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers
- A. The legal structure of the customer's business
- B. The type and size of the business the customer runs
- C. The previous financial institutions where the customer has banked
- D. The country or location where the customer is from or does business
Answer: A,B,D
NEW QUESTION 244
A customer has held an account at a bank and has lived locally for over 25 years. Historically he has come into the bank monthly to deposit a $1,500 retirement check from the company where he worked. He is well known at the bank and often brings the staff cookies. Over the past four months, he has come into the bank every Monday, Wednesday, and Thursday to make $3,000 cash deposits into his account. A review of his account shows that an $8,500 check made out to cash clears his account each week. The bank has decided to file a suspicious transaction report (STR).
What is the important fact to include in the STR?
- A. The fact that the customer has lived in the area and has banked at this bank for 25 years
- B. The customer's work history and the amount of his monthly retirement check
- C. The fact that the account holder is well known to the bank staff
- D. The recent change in the timing of deposits and withdrawals in the account
Answer: B
NEW QUESTION 245
A retail bank has just acquired a credit card business. The bank's anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.
Is the bank's existing anti-money laundering training adequate to be delivered to employees of the newly acquired credit card business?
- A. No, anti-money laundering training needs to be tailored and focused on the risks specific to the business.
- B. No, anti-money laundering training needs to be delivered face-to-face for credit card businesses.
- C. Yes, the existing training covers the bank's policies, procedures, and processes.
- D. Yes, the existing training covers the anti-money laundering regulations that the bank is required to follow.
Answer: D
NEW QUESTION 246
You have an Azure Machine Learning experiment that must comply with GDPR regulations.
You need to track compliance of the experiment and store documentation about the experiment.
What should you use?
- A. Compliance Manager
- B. An Azure Log Analytics workspace
- C. Azure Security Center
- D. Azure Table storage
Answer: A
Explanation:
Explanation/Reference:
References:
https://azure.microsoft.com/en-us/blog/new-capabilities-to-enable-robust-gdpr-compliance/
NEW QUESTION 247
An AML compliance officer receives notice of government update including the names of the latest terrorists sanctioned by the United Nations Security Council. Which would be the most appropriate step to take?
- A. Inform the customers that their funds will be frozen
- B. Update training information to include the latest names
- C. Notify the Board of Directors
- D. Update the monitoring software containing sanctioned persons
Answer: D
NEW QUESTION 248
What should a compliance officer do during an ongoing investigation into a client's activities by a competent authority?
- A. Communicate only in writing regulatory and law enforcement authorities in line with applicable local laws
- B. Ensure communication with regulatory and law enforcement authorities is conducted only through the Board of Directors
- C. Communicate with regulatory and law enforcement authorities in line with applicable local laws
- D. Only provide information that is specifically and directly requested
Answer: D
NEW QUESTION 249
Which action indicates possible Penza scheme activity?
- A. A licensed investment advisor lures aging/retired professionals to invest in securities
- B. A licensed seller offers higher profit on investments in a high risk country
- C. A unlicensed investment advisor offers returns that are competitive with industry benchmarks
- D. An unlicensed investment advisor offers profits other investments cannot guarantee
Answer: D
NEW QUESTION 250
An anti-money laundering consultant audits a bank's current anti-money laundering policies, procedures and controls. The bank serves high-income, high net-worth clients who include non-residents and offshore businesses. During a review of the customers list, the anti-money laundering consultant determines that he and the bank have mutual clients. The bank's written anti-money laundering program includes a process for the bank to establish the identity of the person with whom they conduct business, but does not address monitoring of customer account activity.
The consultant should recommend the bank:
- A. Continue to follow the current written anti-money laundering program.
- B. Reduce the risk rating on the mutual customers.
- C. Revise the procedures to better assess ongoing customer activity.
- D. Focus on high-risk customer acceptance procedures.
Answer: C
NEW QUESTION 251
What are three factors a financial institution should examine with regard to a new customer who is opening up a new account? Choose 3 answers
- A. The legal structure of the customer's business
- B. The country or location where the customer is from or does business
- C. The type and size of the business the customer runs
- D. The previous financial institutions where the customer has banked
Answer: A,C,D
NEW QUESTION 252
During a law enforcement investigative interview regarding potential money laundering, the suspect starts making assertions and statements that the investigator believes are false.
How should the investigator respond?
- A. Inform the suspect that deception is obvious and continue the interview
- B. Ask question of a material nature about the suspected false statements without revealing the suspected deception
- C. Direct the interview in another direction until there is better rapport before returning back to the troubling question
- D. Advise the suspect that the interview will be terminated if there is suspicion of deception
Answer: B
NEW QUESTION 253
The Basel Committee on Banking Supervision issued a paper in October 2001 in which it presented a Know Your Customer framework and recommended standards applicable to
- A. banks in all countries.
- B. European Financial Institutions.
- C. Offshore banking supervisors.
- D. Financial Intelligence Units.
Answer: B
NEW QUESTION 254
To guard against acquisition or control of a financial institution by money launderers or their associates, supervisory agencies should require
- A. prospective owners have prior experience in the area of finance.
- B. thorough due diligence on prospective owners.
- C. adequate surety bonds, cash deposits, or equivalencies.
- D. comprehensive compliance programs.
Answer: A
NEW QUESTION 255
Which of the following represents the first Financial Action Task Force initiative?
- A. The 40 Recommendations on Money Laundering
- B. The Report on Money Laundering Typologies
- C. The Special Recommendations on Terrorist Financing
- D. The Report on Non-Cooperative Countries and Territories
Answer: A
NEW QUESTION 256
Which three statements are true about on-line banking offering a significant money laundering risk to a financial institution?
- A. Due to client confidentiality, information collected on-line cannot be shared with law enforcement agencies on mere suspicion
- B. The speed of electronic transaction enables execution of multiple complex transactions within short time frame
- C. The nature of on-line banking can make it difficult to establish who is controlling the account
- D. The ease of access through the internet enables cross border movement of funds
Answer: B,C,D
NEW QUESTION 257
Which are social/economic consequences of money laundering? (Choose two.)
- A. Civil war
- B. Increase in tax revenue
- C. Weakening financial institutions
- D. Increase in corruption and organized crime
- E. Weakening of the country's infrastructure
Answer: C,D
NEW QUESTION 258
Which action should countries take related to the financing of terrorist acts in accordance with the Financial Action Task Force 40 Recommendations?
- A. Oppose
- B. Sanction
- C. Criminalize
- D. Prosecute
Answer: C
Explanation:
Explanation/Reference: https://www.fatf-gafi.org/publications/methodsandtrends/documents/fatf-action-against-terrorist- financing-feb-2019.html
NEW QUESTION 259
The Board of Directors for a small private bank has asked the management to no longer apply the identity requirements for high net worth individuals to protect their privacy. Which of the following Financial Action Task Force 40 Recommendations should cause an anti-money laundering specialist the most concern?
- A. Financial institutions should not warn their customers when information relating to them is being reported to the competent authorities.
- B. Financial institutions should maintain all necessary suspicious transaction report records on transactions, both domestic are international, for at least 5 years.
- C. If financial institutions suspect that funds stem from criminal activity, they should be required to close the account.
- D. Financial institutions should not keep anonymous accounts.
Answer: D
NEW QUESTION 260
A financial institution recently purchased anti-money laundering software. The software routinely generates more alerts than the anti-money laundering staff can properly analyze as a result of limited staffing. These alerts are generated by default software rules. Which of the following should the individual responsible for setting the anti-money laundering software parameters recommend?
- A. Ensure alert parameters are based on risk.
- B. Adjust software parameters so the number of alerts decrease gradually.
- C. Disable the software until more staff are trained to process alerts.
- D. Reset software parameters to reduce risk sensitivity.
Answer: A
NEW QUESTION 261
Which three are examples of best practices terms of ensuring an adequate AML program?
- A. Review the accuracy of account opening applications
- B. Engage an independent party to perform a periodic review of the program
- C. Review applicable domestic and international AML guidance
- D. Perform a risk analysis on a regular basis and compare it to the coverage of the AML program
Answer: A,C,D
NEW QUESTION 262
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