Acams chinesedumps cams Exam Results by Cosmo q244 vce pdf

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Exam Name:	Certified Anti-Money Laundering Specialist (the 6th edition)
Exam Code:	CAMS Dumps
Vendor:	ACAMS	Certification:	AML Certification
Questions:	811 Q&A's	Shared By:	cosmo

Question 24

What are two requirements with respect to supporting documentation that is used to identify potentially

suspicious activity, according to Financial Action Task Force? (Choose two.)

Options:

It must be retained for at least five years

It must be retained for at least seven years

It must be kept in a manner so that it can be provided promptly

It must only be released to the government through a subpoena process

Discussion

Question 25

An anti-money laundering specialist has been hired by an independently-owned community bank to implement an anti-money laundering compliance program. This bank has recently seen a dramatic increase in the number of international electronic fund transfers from its commercial clients. The first thing the anti-money laundering specialist should do is

Options:

file a suspicious transaction report on international customers receiving large electronic fund transfers.

conduct a risk assessment of the bank's international electronic fund transfer activity.

develop a new account questionnaire to quantify the level of risk for new international accounts.

close all accounts which have had a dramatic increase in international electronic fund transfer activity.

Discussion

Question 26

A recent anti-money laundering audit revealed several regulatory reporting violations and lapses with the

organization’s anti-money laundering policy. As a result, the compliance officer has created a follow-up matrix

to document progress in correcting the identified deficiencies.

To whom should the compliance officer provide regular updates of corrective action to help ensure the

appropriate oversight?

Options:

Audit management

Human Resources

Business line managers

Designated board committee

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Question 27

The vice president of the foreign correspondent banking department at a large United States bank has been notified that a foreign bank with an offshore license wants to open a correspondent account.

Which two things must the vice president acquire under the USA PATRIOT Act? (Choose two.)

Options:

A list of all the customers of the correspondent bank

A list of the types of businesses served by the correspondent bank

Information relating to the foreign bank’s anti-money laundering program

The identity of 10% owners of the correspondent bank, unless it is publicly traded