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Association of Certified Anti-Money Launderying SpecialistCAMS Exam Dumps

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Sample Question 1:

According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which three types of products or transactions? (Choose 3 answers)

A. Life insurance policies where the annual premium is no more than USD/EUR 1,000 ot a single premium of no more than USD/EUR 2,500

B. Trusts where the settler, trustee and beneficiaries are identified and the shares are in bearer from

C. Insurance policies for pension schemes where there is no surrender clause and the policy cannot be used as collateral

D. A pension that provides retirement benefits to employees

Answer: A, C, D



Sample Question 2:

According to the FATF Special Recommendation VII, cross-border wire transfers over 1,000 EUR/USD should be accompanied by what information?

A. The originator’s account number

B. The purpose of the transfer

C. Customer Due Diligence

D. The AML standards that apply to the transfer

Answer: B



Sample Question 3:

In which situation can money laundering adversely affect a country’s currencies and interest rates due to launderers investing dirty funds?

A. They invest in high risk ventures with high rates of return

B. They invest in legitimate companies as a way of making their funds appear to be legitimate

C. They invest in shell companies in secrecy havens that intentionally manipulate rates

D. They invest in a way to hide funds rather than get a high rate of return

Answer: D



Sample Question 4:

An individual opened an account with a minimal cash deposit at a financial institution. He presented a foreign passport and stated he would be working locally for a few months. He also requested information about making electronic fund transfers. The institution was subsequently unable to verify the employment or residence information provided by the individual. Soon after this, a large transfer was sent to the customer's account. Which of the following is the course of action recommended by the Basel Committee on Banking Supervision's Customer Due Diligence for Banks?

A. Post the deposit to the account and notify the customer that the deposit has been made.

B. Implement enhanced due diligence procedures to monitor the account for suspicious activity.

C. Close the account and return the funds to the source from which they were received.

D. End the relationship by sending a check (cheque) to the customer for the full amount in the account.

Answer: C



Association of Certified Anti-Money Launderying Specialist

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