Free ACAMS CAMS Exam Questions (page: 4)

Which factor should a financial institution (FI) consider prior to sharing customer records within the same jurisdiction?

  1. The availability of the institution's information sharing practices
  2. The degree to which the collected client data is complete
  3. The locally applicable restrictions regarding the disclosure of client information
  4. The potential different time zones within the same jurisdiction

Answer(s): A



How should a compliance officer respond to law enforcement agencies' request for information on a customer undergoing an investigation?

  1. Collaborate with the financial institution's (FI's) designated department to determine the appropriate course of action to comply with the request.
  2. Gather all requested documentation and send via secure email to the requesting authority.
  3. Share details of the investigation with respective colleagues who deal with this customer type on a daily basis.
  4. Freeze account assets and advise the customer that assets will not be released until the investigation has been completed.

Answer(s): B


Reference:

https://www.acams.org/en/resources/aml-glossary-of-terms



Based on the USA PATRIOT Act, what action might the US take to demonstrate extraterritorial reach?

  1. Send requests for information to a non-US based financial institution (FI)
  2. Hand over potential penalties from the US to another government
  3. Freeze U. S. accounts that contain funds from the non-US FI
  4. Initiate a lawsuit in the home country of the non-US FI

Answer(s): A


Reference:

https://www.congress.gov/107/plaws/publ56/PLAW-107publ56.htm



What is an aspect of the USA PATRIOT Act that has extraterritorial reach?

  1. To strengthen US measures to prevent, detect and prosecute international money laundering and financing of terrorism.
  2. To implement economic and trade sanctions based on US foreign policy.
  3. To mandate stricter money laundering controls across the continent.
  4. To require scrutiny of foreign financial institutions (FIs) and classes of international transactions that are susceptible to criminal abuse.

Answer(s): A


Reference:

https://www.fincen.gov/resources/statutes-regulations/usa-patriot-act



Viewing page 4 of 62
Viewing questions 13 - 16 out of 863 questions



Post your Comments and Discuss ACAMS CAMS exam prep with other Community members:

CAMS Exam Discussions & Posts