Free CAMS7 Practice Test (Page 10 ) & Exam Questions

QUESTION: 41

An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into the account followed by corresponding ATM withdrawals from a country bordering a conflict zone.

How should the bank respond?

Block any further activity
File a suspicious transaction report
Initiate an investigation into the activity
Contact the customer if the transaction activity continues

Answer(s): C

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QUESTION: 42

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.)

The bank allows cash deposits
The client resides in a high-risk jurisdiction
Wire transfers are to high-risk jurisdiction
Large cash deposits are from a high-risk jurisdiction

Answer(s): C,D

Reference:

https://aml-cft.net/library/banks-amlcft-red-flags/

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QUESTION: 43

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?

Yes, the existing training covers the bank’s policies, procedures, and processes.
No, anti-money laundering training needs to be delivered face-to-face for credit card businesses.
No, anti-money laundering training needs to be tailored and focused on the risks specific to the business.
Yes, the existing training covers the anti-money laundering regulations that the bank is required to follow.

Answer(s): D

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QUESTION: 44

Which method do terrorist financiers use to move funds without leaving an audit trail?

Extortion
Cash couriers
Casa de cambio
Virtual currency

Answer(s): B

Reference:

https://www.fatf-gafi.org/media/fatf/documents/reports/FATF%20Terrorist%20Financing%20Typologies%20Report.pdf (24)

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QUESTION: 45

Why do governments and multi-national bodies impose economic sanctions?

To impede kleptocracy
To enforce foreign policy objectives
To combat an imminent terrorist threat
To prevent fraudulent international trade transactions

Answer(s): B

Reference:

https://en.wikipedia.org/wiki/Economic_sanctions

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ACAMS CAMS7 Exam
Certified Anti-Money Laundering Specialist (the 7th edition) (Page 10 )

QUESTION: 41

QUESTION: 42

Reference:

QUESTION: 43

QUESTION: 44

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QUESTION: 45

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ACAMS CAMS7 Exam Certified Anti-Money Laundering Specialist (the 7th edition) (Page 10 )

QUESTION: 41

QUESTION: 42

Reference:

QUESTION: 43

QUESTION: 44

Reference:

QUESTION: 45

Reference:

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ACAMS CAMS7 Exam
Certified Anti-Money Laundering Specialist (the 7th edition) (Page 10 )