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Free CAMS7 Exam Braindumps
Certified Anti-Money Laundering Specialist (the 7th edition) Questions 156–160 (page: 33)

Updated On: 9-Feb-2026
Page 33 of 63
PDF with 469 Questions

Which method to finance terrorism involves falsifying transaction-related documents?

  1. Bribery
  2. Black market peso exchange
  3. Trade-based money laundering
  4. Informal value transfer system

Answer(s): C



A private banker of a major international bank is onboarding a new private investment company. The banker has verified the identity of the two directors, a husband and wife, who are equal shareholders. The funds in the account will be provided solely by the wife.

The banker was later informed by the company that an additional director and shareholder will be added to the company although the new shareholder will not provide funds.

What is the next step for due diligence in respect to the additional director and shareholder according to the Wolfsberg Anti-Money Laundering Principles for Private Banking?

  1. Refuse to open the account as it is not usual for an individual to be a director and shareholder of a private investment company without providing funds.
  2. Seek to further understand the relationship between the shareholders and undertake due diligence on the source of funds and wealth for each of the shareholders
  3. Verify the identity of this individual, including due diligence in respect of background and reputation, and undertake due diligence on her source of funds and wealth
  4. Seek to further understand the relationship between the shareholders and verify the identity of the individual which may include due diligence in respect to her background and reputation

Answer(s): B



What are two purposes of the USA PATRIOT Act? (Choose two.)

  1. To strengthen United States’ measures to prevent, detect, and prosecute international money laundering and financing of terrorism
  2. To subject to special scrutiny foreign jurisdictions, foreign financial institutions, and classes of international transactions or types of accounts that are susceptible to criminal abuse
  3. To administer and enforce economic and trade sanctions based on United States foreign policy and national security goals against targeted foreign countries and regimes, terrorists, and international narcotics traffickers
  4. To set standards and promote effective implementation of legal, regulatory, and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system

Answer(s): A,B


Reference:

https://www.dni.gov/index.php/who-we-are/organizations/ise/ise-archive/ise-additional-resources/2116-usa-patriot-act



After review of the financial institution’s enterprise-wide anti-money laundering risk assessment, the new compliance officer identifies several deficiencies that need attention.

Which deficiency could lead to the highest potential for unmitigated risk?

  1. The risk assessment is several years old and does not cover all current products and services.
  2. The risk assessment is revisited too frequently thereby diverting critical resources from other compliance tasks.
  3. The risk assessment is managed by a different team from the previous assessment therefore disrupting continuity of institutional knowledge.
  4. The risk assessment does not anticipate potential risks even though the financial institution has no immediate plans involving those risks.

Answer(s): A



Bank A is a non-United States (U.S.) bank that has $5 million in a correspondent account at a bank in New York City. The Worldwide Terrorist Syndicate (WTS) has $1 million in its account at a non-US branch of Bank A. The U.S. government has initiated forfeiture action against the WTS.

Which potential action can the U.S. take under the USA PATRIOT ACT pursuant to the issuance seizure warrant?

  1. Seize Bank A’s $5 million correspondent account in the U.S.
  2. Seize WTS’ $1 million account at the non-U.S. branch of Bank A.
  3. Seize $1 million from Bank A’s correspondent account in the U.S.
  4. Seize $5 million from the non-U.S. branch of Bank A where the WTS’ account is located.

Answer(s): C



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