Get New 2021 Valid Practice To your CAMS Exam (Updated 405 Questions)
CAMS Certification CAMS Exam Practice Test Questions Dumps Bundle!
How to book the CAMS Exam
These are following steps for registering the CAMS exam.
Step 1: Fill your contact and membership information form Step 2: Select your CAMS exam package and certification language Step 3: Select any payment method and write the certification name Step 4: Mail or Fax exam application with attached necessary documents (diploma, copies etc) that fulfill the 40 credit prerequisite to this address:
ACAMS Attn. Certification Department Brickell City Tower 80 Southwest 8th Street, Suite 2350 Fax: +1.305.373.7788 or +1.305.373.5229
What is the duration of the CAMS Exam
Format: Multiple choices, multiple answers Length of Examination: 3 1/2 hours
NEW QUESTION 226
Which method to launder money through deposit-taking institutions is closely associated with international trade?
- A. Investing in legitimate business with illicit funds
- B. Structuring cash deposits withdrawals
- C. Using Black Market Peso Exchange
- D. Forming a shell company
Answer: C
NEW QUESTION 227
Which is a key reason why a financial institution (FI) conducts an enterprise-wide AML risk assessment?
- A. The board of directors and senior management are required to have an AML risk assessment for the bank.
- B. The need to assess money laundering and terrorist financing risks and ensure there are adequate controls to mitigate those risks.
- C. The need to understand its overall budget needs for each department and for internal audit.
- D. The identification of specific risk categories (i.e., export, inactivity, layman, and false locations) unique to the bank.
Answer: B
NEW QUESTION 228
Which three elements should be considered in an institution's enhanced due diligence process to assure itself that it has secured sufficient understanding of its higher risk respondent bank customers according to the Wolfsberg Principles on Correspondent Banking?
- A. A risk-based determination as to whether or not the respondent is a shell bank
- B. The sources of wealth for all significant ownership interests
- C. The quality of the respondent's AML and client identification controls
- D. Whether a Politically Exposed Person (PEP) has an interest or management role in therespondent
Answer: A,B,C
NEW QUESTION 229
A financial institution files a suspicious transaction report on a customer as the result of a high volume of large currency deposits to pay off a loan. A law enforcement officer calls the anti-money laundering officer to discuss the suspicious transaction report. Which of the following is the anti-money laundering officer legally permitted to do?
1. Discuss any aspects of the reported activity.
2. Provide copies of the customer's loan documents.
3. Explain the customer's loan payment history.
4. Send the deposit documents referenced in the suspicious transaction report.
- A. 2 and 4 only
- B. 2 and 3 only
- C. 1 and 2 only
- D. 1 and 4 only
Answer: A
NEW QUESTION 230
Which two methods can be used to structure casino-related transactions? (Choose two.)
- A. Use of third parties to conduct transactions
- B. Playing at the same game
- C. One time deposit of cash at a single gaming machine
- D. Purchase of chips at multiple gaming tables
Answer: A,D
NEW QUESTION 231
Which of the following provides anti-money laundering specialists information related to money laundering trends?
1. Egmont Group's 100 Cases
2. Financial Action Task Force Typologies
3. FinCEN's SAR Activity Review
4. The Wolfsberg Principles
- A. 1, 2, and 4 only
- B. 1, 3, and 4 only
- C. 2, 3, and 4 only
- D. 1, 2, and 3 only
Answer: A
NEW QUESTION 232
What should a compliance officer do during an ongoing investigation into a client's activities by a competent authority?
- A. Communicate with regulatory and law enforcement authorities in line with applicable local laws
- B. Communicate only in writing regulatory and law enforcement authorities in line with applicablelocal laws
- C. Only provide information that is specifically and directly requested
- D. Ensure communication with regulatory and law enforcement authorities is conducted onlythrough the Board of Directors
Answer: D
NEW QUESTION 233
You are building an Azure Analysis Services cube for your AI deployment.
The source data for the cube is located in an on premises network in a Microsoft SQL Server database.
You need to ensure that the Azure Analysis Services service can access the source data.
What should you deploy to your Azure subscription?
- A. Azure Data Factory
- B. a network gateway
- C. a site-to-site VPN
- D. a data gateway
Answer: D
Explanation:
From April 2017 onward we can use On-premises Data Gateway for Azure Analysis Services. This means you can connect your Tabular Models hosted in Azure Analysis Services to your on-premises data sources through On-premises Data Gateway.
References:
https://biinsight.com/on-premises-data-gateway-for-azure-analysis-services/
NEW QUESTION 234
Which method to launder money through deposit-taking institutions is closely associated with international trade?
- A. Investing in legitimate business with illicit funds
- B. Structuring cash deposits withdrawals
- C. Using Black Market Peso Exchange
- D. Forming a shell company
Answer: C
Explanation:
Explanation/Reference: http://fraudaid.com/Dictionary-of-Financial-Scam-Terms/black_market_peso_exchange.htm
NEW QUESTION 235
After evaluating recent changes to international standards, an anti-money laundering specialist should consider enhanced due diligence on accounts held by
1. lawyers.
2. foreign exchange dealers.
3. retail account holders.
4. precious metal dealers.
- A. 1, 2, and 4 only
- B. 1, 3, and 4 only
- C. 2, 3, and 4 only
- D. 1, 2, and 3 only
Answer: A
NEW QUESTION 236
Which three circumstances are indicators for defining a customer as required additional diligence according to the Wolfsburg Principles on Private Banking? Choose 3 answers
- A. Persons who receive funds from a correspondent banking relationship
- B. Persons residing in a having funds from countries with inadequate AML standards
- C. Persons engaged in business activities known to be susceptible to money laundering
- D. Persons determined to be Politically Exposed Persons (PEPs)
Answer: B,C,D
NEW QUESTION 237
You need to evaluate trends in fuel prices during a period of 10 years. The solution must identify unusual fluctuations in prices and produce visual representations.
Which Azure Cognitive Services API should you use?
- A. Text Analytics
- B. Computer Vision
- C. Anomaly Detector
- D. Bing Autosuggest
Answer: C
Explanation:
The Anomaly Detector API enables you to monitor and detect abnormalities in your time series data with machine learning. The Anomaly Detector API adapts by automatically identifying and applying the best-fitting models to your data, regardless of industry, scenario, or data volume. Using your time series data, the API determines boundaries for anomaly detection, expected values, and which data points are anomalies.
References:
https://docs.microsoft.com/en-us/azure/cognitive-services/anomaly-detector/overview
NEW QUESTION 238
What was cited by the Wolfsberg Group in its Statement on the Suppression of the Financing of Terrorism as being vulnerable to terrorist financing?
- A. Correspondent banking
- B. Private banking
- C. Alternative remittance
- D. Trade finance
Answer: C
NEW QUESTION 239
A bank has maintained an account for a European charity for several years. The charity provides clothing to persons in need in various countries with active terrorists' cells.
Which action by the charity indicates possible terrorist financing?
- A. The charity receives cash donations primarily from European countries
- B. The charity maintains a bank account for non-business-related expenses
- C. The charity has branch locations located in various countries
- D. The charity frequently withdraws cash from the bank
Answer: C
NEW QUESTION 240
Which aspect of the USA PATRIOT Act impacts foreign financial institutions?
- A. Requiring enhanced due diligence for foreign shell banks
- B. Expanding the anti-money laundering program requirements to all foreign financial institutions
- C. Providing authority to impose special measures on institutions that are of primary money-laundering concern
- D. Expanding sanctions requirements to a U.S. financial institution's foreign branches
Answer: C
NEW QUESTION 241
Federal law requires all U.S. financial institutions to secure and maintain all records and supporting documentation used m suspicious activity reporting for how many years?
- A. 5 years
- B. No requirement
- C. 10 years
- D. 2 years
Answer: A
NEW QUESTION 242
What are some red flags pertaining to potentially suspicious transactions by a customer? Choose 3 answers
- A. Having a commercial account with cash deposits
- B. Have a common address with several other bank clients
- C. Having multiple individuals use the ATM card connected with the account m different cities
- D. Having multiple addresses and/or moving frequently
Answer: B,C,D
NEW QUESTION 243
An offshore company is owned by four equal partners that reside in separate jurisdictions. One partner presents an authenticated power of attorney apparently executed by the remaining three partners in his favor and requests that a bank account be opened on behalf of all partners. He needs this done quickly because there is a large deposit pending. The account-opening officer contacts the bank's anti-money laundering officer for advice. Which of the following should the anti-money laundering officer advise as an initial step?
- A. File a suspicious transaction report with the appropriate Financial Intelligence Unit.
- B. Verify the identity of all the partners.
- C. File a suspicious transaction report with the Egmont Group.
- D. Verify the source of the deposit.
Answer: A
NEW QUESTION 244
Which of the following customer transactions with a securities dealer would indicate the highest suspicion of money laundering?
- A. Recurring transfers of money into a brokerage account subsequently invested in short-term securities.
- B. An unexplained high level of account activity with very low levels of securities transactions
- C. Investment in securities with a significantly lower risk than the customer's expressed risk tolerance.
- D. Frequent trades in unlisted securities throughout the day on a regular basis.
Answer: B
NEW QUESTION 245
Your company has a data team of Transact-SQL experts.
You plan to ingest data from multiple sources into Azure Event Hubs.
You need to recommend which technology the data team should use to move and query data from Event Hubs to Azure Storage. The solution must leverage the data team's existing skills.
What is the best recommendation to achieve the goal? More than one answer choice may achieve the goal.
- A. Azure Notification Hubs
- B. Apache Kafka streams
- C. Azure Stream Analytics
- D. Azure Event Grid
Answer: D
Explanation:
Event Hubs Capture is the easiest way to automatically deliver streamed data in Event Hubs to an Azure Blob storage or Azure Data Lake store. You can subsequently process and deliver the data to any other storage destinations of your choice, such as SQL Data Warehouse or Cosmos DB.
You to capture data from your event hub into a SQL data warehouse by using an Azure function triggered by an event grid.
Example:
First, you create an event hub with the Capture feature enabled and set an Azure blob storage as the destination. Data generated by WindTurbineGenerator is streamed into the event hub and is automatically captured into Azure Storage as Avro files.
Next, you create an Azure Event Grid subscription with the Event Hubs namespace as its source and the Azure Function endpoint as its destination.
Whenever a new Avro file is delivered to the Azure Storage blob by the Event Hubs Capture feature, Event Grid notifies the Azure Function with the blob URI. The Function then migrates data from the blob to a SQL data warehouse.
References:
https://docs.microsoft.com/en-us/azure/event-hubs/store-captured-data-data-warehouse
NEW QUESTION 246
How should a compliance officer respond to law enforcement agencies' request for information on a customer undergoing an investigation?
- A. Share details of the investigation with respective colleagues who deal with this customer type on a daily basis.
- B. Collaborate with the financial institution's (FI's) designated department to determine the appropriate course of action to comply with the request.
- C. Freeze account assets and advise the customer that assets will not be released until the investigation has been completed
- D. Gather all requested documentation and send via secure email to the requesting authority.
Answer: D
NEW QUESTION 247
Why do trusts established in certain offshore jurisdictions make good vehicles to launder money?
- A. Offshore jurisdictions are unfamiliar with trusts
- B. Trust are typically set up to minimize taxes
- C. Trusts may hold assest of significant size
- D. Names of the settlor and beneficiaries are not publicly available
Answer: C
NEW QUESTION 248
During a law enforcement investigative interview regarding potential money laundering, the suspect starts making assertions and statements that the investigator believes are false.
How should the investigator respond?
- A. Ask questions of a material nature about the suspected false statements without revealing the suspected deception
- B. Inform the suspect that deception is obvious and continue the interview
- C. Direct the interview in another direction until there is better rapport before returning back to the troubling questions
- D. Advise the suspect that the interview will be terminated if there is suspicion of deception
Answer: A
NEW QUESTION 249
What is a criterion for FATF membership?
- A. The country should have already implemented all of the FATF Recommendations
- B. The country should be democracy
- C. The country should be a member of a FATF-style regional body
- D. The country should have already implemented the standards of the European Union Directives
Answer: C
NEW QUESTION 250
You need to design the Butler chatbot solution to meet the technical requirements.
What is the best channel and pricing tier to use? More than one answer choice may achieve the goal. Select the BEST answer.
- A. Standard channels that use the Free pricing tier
- B. Premium channels that use the Free pricing tier
- C. Premium channels that use the S1 pricing tier
- D. Standard channels that use the S1 pricing tier
Answer: C
Explanation:
Explanation/Reference:
References:
https://azure.microsoft.com/en-in/pricing/details/bot-service/
NEW QUESTION 251
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