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Free CAMS7 Exam Braindumps
Certified Anti-Money Laundering Specialist (the 7th edition) Questions 66–70 (page: 15)

Updated On: 9-Feb-2026
Page 15 of 63
PDF with 469 Questions

A foreign politically exposed person (PEP) requests to add a beneficiary to a life insurance policy. How should the request be processed to mitigate risk?

  1. Perform due diligence on the beneficiary
  2. Determine the source of wealth and source of funds
  3. Decline the request if the beneficiary is a foreign PEP
  4. Decline the request to add a beneficiary due to increased risk

Answer(s): A



Which requirement is included in the Fourth European Union Directive on money laundering?

  1. It requires obliged entities to consider politically exposed persons as high risk for life
  2. It requires obliged entities to conduct enhanced due diligence on all prepaid card holders
  3. It requires member countries to maintain registries of the beneficial owners of legal entities
  4. It requires member states to enact economic sanctions against countries that do not cooperate with Financial Action Task Force recommendations

Answer(s): C


Reference:

https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32018L0843&from=EN



A bank maintains a relationship with a customer who owns a small bakery business. Which customer action indicates potential money laundering?

  1. The customer continually makes regular cash deposits
  2. The customer has multiple bank accounts at several locations
  3. The customer purchased property insurance that is twice the value of the business
  4. The customer recently wired a large amount to a foreign jurisdiction where family is located

Answer(s): B



A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at £30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want the purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.

Which red flag should stop the agent from discussing this potential purchase further?

  1. The clients are foreign
  2. The clients have the funds necessary to fund a £30 million purchase
  3. The clients are not willing to have their names provided to the bank
  4. The clients want the purchase to be made in the names of the private companies

Answer(s): C



What is a key objective of the Egmont Group?

  1. To find ways to promote the development of Financial Intelligence Units and the sharing of expertise.
  2. To safeguard the financial system from illicit use and combat money laundering and promote national security.
  3. To issue binding standards that establish consistently operated Financial Intelligence Units in member jurisdictions.
  4. To provide best practices for financial institutions on how to report suspicious activity to best share the information with law enforcement.

Answer(s): B


Reference:

https://egmontgroup.org/en



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