2022 Realistic Verified CAMS exam dumps Q&As – CAMS Free Update [Q169-Q185]

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2022 Realistic Verified CAMS exam dumps Q&As – CAMS Free Update

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Career Opportunities

Individuals who have obtained the CAMS designation may receive a range of benefits. They include furthering one’s professional portfolio via demonstrating a better understanding of the detection and prevention techniques of financial crime, helping to protect their organization from money laundering threats, and lessening financial crime risks. What’s more, by flaunting this qualification on your resume, you can opt for such job roles as an Anti-Money Laundering Analyst, Bank Secrecy Act (BSA) Officer, Staff Auditor, Management Consultant, etc. When it comes to the annual payment received by those specialists who got CAMS certified, it equals almost $82k per year as shown by Payscale.com.

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

Q169. Which of the following is the best action to take regarding a particular account once suspicious activity is reported by the institution?

Notify the client that the transaction has been reported.

Freeze the funds pending notification from the competent authority.

Secure all supporting documentation.

Immediately close the account.

Q170. When should the anti-money laundering risk assessment be updated?

Every two years

After a merger or acquisition

When the board of directors changes

When instructed to by the Financial Action Task Force

Q171. A benefit of using bearer shares in corporate formations is that bearer shares are:

widely accepted in the financial world.

entered in the register of owners.

associated with lower costs in setting up a company.

easily transferred so the holder claims ownership.

Q172. What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee’s paper on Customer Due Diligence for Banks?

Determining that a local figure is a PEP

Reviewing when a relationship is established

Reviewing relationships at account opening and on a periodic basis

Requiring that the customer discloses that they are a PEP or an associate of a PEP

Q173. Which of the following customers require the most enhanced due diligence?

A resident of a non-cooperative jurisdiction.

An international business corporation.

A politically exposed person.

An established customer.

Q174. What is an example of a legal risk a financial institution (FI) could face if it is sanctioned for failure to report suspected fraud activity?

Foreign correspondents could terminate their relationships with the sanctioned bank.

Clients of the bank might draw down the reserves of the bank and lead to liquidity issues.

The bank could be forced to reimburse the victims of the fraudster for the losses suffered.

The bank could see higher default rates on loans granted to companies owned by the fraudster.

Q175. Which two mechanisms should be implemented to assist with cross-border money laundering investigations? (Choose two.)

Countries should request Interpol to provide the required information.

Countries should ensure that information received is protected from unauthorized disclosure.

Countries should establish mechanisms allowing financial investigators to obtain and share information in respect of specific investigations.

Countries should conduct separate investigations to ensure information is not unintentionally disclosed without the appropriate legal approval.

Q176. What are some useful tools or methods in conducting an internal AML investigation? Choose 3 answers

Reviewing documents, particularly of relevant accounts

Interviewing knowledgeable employees of the institution

Subpoenaing the owners of the relevant accounts

Exploring leads through internet searches

Q177. Which three areas do FATF’s 40 recommendations cover? Choose 3 answers

International Cooperation

Prescriptive sentences for predicate offenses

Financial systems and their regulation

The criminal justice system

Q178. An anti-money laundering specialist working at a bank just received a legal request from a law enforcement agency mandating the release of all financial transaction records relating to an account at the bank. The specialist immediately recognizes the account as one owned by the bank Chief Executive Officer’s brother.
During research to gather the requested documents, the specialist finds several internal memos he had sent to the bank president with concerns regarding possible suspicious activity relating to this account. The specialist recalls the bank president verbally responded to each memo with an explanation of the activity and indicated there was no cause for concern. Which of the following should the specialist do with respect to these internal memos?

Place these memos in his personal files in case they are subsequently requested.

Ask the bank president to document his instructions to the specialist.

Call the law enforcement agent and suggest he modify the legal request to include these memos.

Advise the bank’s senior legal advisor of the situation.

Q179. In the summer, an institution identifies anti-money laundering concerns regarding a customer’s account activity.
The customer, an ice cream, has deposited a lot of checks drawn on banks in foreign countries, sent large number of high dollar international wires to different countries, made cash deposits of a few hundred dollars every few days and written multiple checks for a few hundred dollars to the same dozen payees every two weeks.
Which two transaction types warrant investigation? (Choose two.)

Regular cash deposits

The wires to foreign countries

Repeated checks to the same payees

Checks drawn on banks in foreign countries

Q180. A bank maintains a number of United States (U.S.) dollar correspondent accounts for foreign financial institutions. Upon a routine review of a U.S. dollar correspondent account owned by Foreign Bank A, a number of transactions appear to have been originated by Foreign Bank B outside the expected activity for this account. These transactions appear suspicious and a suspicious transaction report was filed by the compliance officer.
Which step should the compliance officer take?

File a report with the appropriate tax authorities in the jurisdictions of Foreign Bank A and Foreign Bank B

Notify senior management of the money laundering risks by allowing Foreign Bank A to maintain its

S. dollar correspondent account

Notify Foreign Bank A of the discovery and seek documentation supporting Foreign Bank A was collusive and a willing partner with Foreign Bank B in the activity

Notify other U.S. financial institutions who maintain U.S. dollar correspondent accounts for Foreign Bank A and Foreign Bank B in an effort to shut down the activity

Q181. Which three areas do FATF’s 40 recommendations cover? Choose 3 answers

International Cooperation

Prescriptive sentences for predicate offenses

Financial systems and their regulation

The criminal justice system

Q182. To guard against acquisition or control of a financial institution by money launderers or their associates, supervisory agencies should require

adequate surety bonds, cash deposits, or equivalencies.

comprehensive compliance programs.

prospective owners have prior experience in the area of finance.

thorough due diligence on prospective owners.

Q183. Which factor should a bank consider before sharing information about a customer with its broker-dealer affiliate in the case of an investigation?

Whether the broker-dealer affiliate can rely on the due diligence done by the bank

Whether there is a mutual legal assistance treaty in place between the two institutions

Whether privacy and data protection rules permit the bank to share the information with the affiliate

Whether both institutions have an account or are in the process of opening an account for the customer

Q184. Your company has factories in 10 countries. Each factory contains several thousand IoT devices.
The devices present status and trending data on a dashboard.
You need to ingest the data from the IoT devices into a data warehouse.
Which two Microsoft Azure technologies should you use? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

Azure Stream Analytics

Azure Data Factory

an Azure HDInsight cluster

Azure Batch

Azure Data Lake

Q185. You have a Face API solution that updates in real time. A pilot of the solution runs successfully on a small dataset.
When you attempt to use the solution on a larger dataset that continually changes, the performance degrades, slowing how long it takes to recognize existing faces.
You need to recommend changes to reduce the time it takes to recognize existing faces without increasing costs.
What should you recommend?

Change the solution to use the Computer Vision API instead of the Face API.

Separate training into an independent pipeline and schedule the pipeline to run daily.

Change the solution to use the Bing Image Search API instead of the Face API.

Distribute the face recognition inference process across many Azure Cognitive Services instances.