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ACAMS Exam Dumps

ACAMS Exam Dumps

Certification Exams

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Number Of Questions: 645

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Exam Details

Exam Name:

Certified Anti-Money Laundering Specialist (the 6th edition)

Exam Code:

CAMS

Total Questions in Exam:

645

Demo Questions

Q1. A financial institution (FI) is fined for failure to implement an effective AML program. Which consequences could the regulator impose on the bank's Chief AML Officer? (Select Three.)

A.Loss of professional accounting and legal designations

B. Civil and criminal prosecution, fines, and imprisonment

C. Ban from employment in the financial services industry

D. Recommend termination of employment from the FI

E. Add to the Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons List

F. Prohibition from dealing with goods on the Wassenaar List

Correct Answer: B, C, D

Q2. A customer's registered business activity is a domestic carpet cleaning company. Besides domestic receipts, there are incoming weekly transactions from an international reputable auction house starting at 15,000 USD and averaging 30,000 USD. The matching cash outgoings amount to 90% of the incoming deposits to non-related individuals. Which is most concerning for potential money laundering?

A.The customer is paying 90% of the incoming proceeds to non-related individuals in cash.

B. The customer is a domestic carpet cleaning company.

C. The customer's international incomings are from an international reputable antique auction house.

D. The customer's initial international receipt has increased from 15,000 USD to an average of 30,000 USD per transaction per week.

Correct Answer: A

Q3. Which is the most severe consequence for a financial institution if the regulator finds it is in breach of AML regulatory obligations?

A.Loss of license

B. Civil sanctions

C. Monetary fines

D. Negative reputation

Correct Answer: A

Q4. Findings from a regulatory examination report states that the job descriptions of personnel outside of the compliance department do not include references to anti-money laundering responsibilities. Which action should the firm take?

A.Update all job descriptions to include anti-money laundering responsibilities

B. Respond that only compliance personnel have anti-money laundering responsibilities

C. Send an email to all staff stating that personnel must observe the anti-money laundering policy

D. Reply that a description of anti-money laundering responsibilities is included in the annual training

Correct Answer: A

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