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The ACAMS CAMS (Certified Anti-Money Laundering Specialists) Exam is a highly respected certification program that is designed to help professionals in the financial crime prevention field to demonstrate their expertise in the industry. The certification is recognized globally and is highly valued by employers in financial institutions, regulatory bodies, and law enforcement agencies. The CAMS certification is awarded by the Association of Certified Anti-Money Laundering Specialists (ACAMS) which is the largest international membership organization dedicated to enhancing the knowledge, skills, and expertise of AML/CTF professionals.

To become CAMS certified, candidates must pass a rigorous examination that tests their knowledge and skills in the field of AML/CTF. The exam consists of 120 multiple-choice questions and is timed at four hours. Candidates must achieve a minimum score of 75% to pass the exam. Once certified, CAMS professionals are required to maintain their certification by earning 60 continuing education credits every three years to ensure that they stay up to date with the latest developments in the field.

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q191-Q196):

NEW QUESTION # 191
Which statements relate to the mandate, roles, and responsibilities of the Financial Action Task Force (FATF) and the FATF-Style Regional Bodies (FSRBs)? (Select Two).

  • A. In the process of setting standards. FATF will only consider inputs from its member countries as part of the consultation process.
  • B. FATF and FSRBs are free-standing organizations that share the common goals of combating money laundering and the financing of terrorism and proliferation.
  • C. FATF member countries cannot be members of an FSRB at the same time.
  • D. FSRBs play an essential role in identifying and addressing AML technical assistance needs for their individual member countries.
  • E. FSRBs have the right to develop standards with which their member countries are bound to comply.

Answer: B,D

Explanation:
Explanation
FSRBs play an essential role in identifying and addressing AML technical assistance needs for their individual member countries. The FSRBs are responsible for promoting the effective implementation of the FATF Recommendations at the regional level, including by assisting member countries in identifying technical assistance needs and facilitating the provision of such assistance.
FATF and FSRBs are free-standing organizations that share the common goals of combating money laundering and the financing of terrorism and proliferation. The FATF is an intergovernmental body that sets global standards for AML/CFT and promotes their effective implementation, while the FSRBs are regional organizations that work to promote the effective implementation of the FATF Recommendations at the regional level.


NEW QUESTION # 192
As a result of an audit, a policy exception was identified that had been approved by the compliance officer. The auditor determined that the policy exception is a violation of a regulatory requirement.
What should the auditor do?

  • A. Consult with legal counsel to determine if the approval of the policy exception was acceptable.
  • B. Include the regulatory violation in the audit report and report it to the board of directors.
  • C. Include the regulatory violation in the audit report and recommend the compliance officer be subject to disciplinary action by the board of directors.
  • D. Advise the compliance officer on how to appropriately respond to policy exceptions.

Answer: B


NEW QUESTION # 193
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?

  • A. Investigate these unusual transactions further.
  • B. File a suspicious transaction report with the competent authorities.
  • C. Contact the local Financial Intelligence Unit for advice.
  • D. Document reasons for not filing a suspicious transaction report.

Answer: B


NEW QUESTION # 194
What is a criterion for FATF membership?

  • A. The country should have already implemented all of the FATF Recommendations
  • B. The country should be democracy
  • C. The country should have already implemented the standards of the European Union Directives
  • D. The country should be a member of a FATF-style regional body

Answer: D


NEW QUESTION # 195
Which three areas do FATF's 40 recommendations cover? Choose 3 answers

  • A. International Cooperation
  • B. The criminal justice system
  • C. Financial systems and their regulation
  • D. Prescriptive sentences for predicate offenses

Answer: A,B,C

Explanation:
Explanation/Reference:


NEW QUESTION # 196
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