Question: 41

Which two steps should a financial institution take when it receives a law enforcement request to keep an account open that may be associated with suspicious or criminal activity? (Choose two.)

File a suspicious transaction report on the account owner(s)
Maintain account records for at least five years after the request expires
Ask for a written request from the law enforcement agency that defines the duration
Stop filing suspicious transaction reports because law enforcement will be monitoring the account

Answer(s): B,C

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A compliance officer is reviewing the activity of the wire transfer department for the previous month and identifies an unusual wire transfer from a customer’s account.

Which information should be included in the review of the customer’s activity?

Records of the recent deposit activity
Wire transfer requests initiated by phone and internet
Total number of wires processed each month over the previous year
Whether the bank processes wire transfers through a correspondent bank

Answer(s): D

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Question: 43

What do the Financial Action Task Force (FATF) mutual evaluations of each member assess?

The levels of implementation of the FATF Recommendations
The member’s ability to send a representative to the plenary sessions
If the member has a large enough economy to maintain its membership
If the member has made any suggestions for updates to the FATF Recommendations

Answer(s): A

Reference:

https://www.fatf-gafi.org/publications/mutualevaluations/documents/more-about-mutual- evaluations.html

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Question: 44

A company service provider in Country A sets up a corporate structure for a client from Country B, which is known for corruption. The corporate structure includes a holding company in Country A with a bank account in one of the international banks located there.

During on-boarding, the client’s wealth was estimated at $7 million. Shortly thereafter, the client’s father became president of Country B. During a routine client review two years later, it was identified that client’s wealth had grown to $510 million.

What are two red flags that indicate money laundering or financial terrorism? (Choose two.)

The client is from a country known for corruption.
The substantial growth in wealth during a short period of time.
The client is a family member of a PEP from a country known for corruption.
The holding company is in Country A with a bank account in one of the international banks.

Answer(s): B,C

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Free ACAMS CAMS Exam Questions (page: 13)

Question: 41

Question: 42

Question: 43

Reference:

Question: 44

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