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Newest CAMS - Exam Certified Anti-Money Laundering Specialists Guide
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The CAMS certification is designed for professionals who work in anti-money laundering (AML), counter-terrorism financing (CTF), and financial crime prevention. CAMS exam covers a wide range of topics including AML regulations, AML compliance programs, risk assessment, customer due diligence, transaction monitoring, and sanctions screening. CAMS exam also tests the candidate's ability to analyze complex financial crime scenarios and to apply the latest AML/CTF techniques and technologies to prevent and detect financial crime.
ACAMS CAMS (Certified Anti-Money Laundering Specialists) Certification Exam is a globally recognized certification program for professionals seeking to enhance their knowledge and skills in the field of anti-money laundering (AML) and financial crime prevention. Certified Anti-Money Laundering Specialists certification is offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading international organization dedicated to the advancement of AML and financial crime prevention. The CAMS Certification is highly respected in the industry and is a mark of excellence for professionals working in AML compliance.
ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q325-Q330):
NEW QUESTION # 325
Which economic and social factors could create a dependency on illicit activities and money laundering? (Select Two.)
- A. Wider exposure to organized crime and corruption
- B. Weakness of private sector legitimacy
- C. Weaker financial inclusion
- D. Weakness of public service and governmental funding
- E. Weaker development of economy and job opportunities
Answer: A,E
Explanation:
Wider exposure to organized crime and corruption: When individuals or communities are exposed to organized crime networks or corrupt practices, they may become more susceptible to engaging in illicit activities. Organized crime groups often exploit vulnerabilities, leading to money laundering.
Weaker development of economy and job opportunities: In regions with limited economic growth and scarce job prospects, individuals may turn to illicit activities as a means of survival. Poverty and lack of legitimate income sources can drive people toward money laundering.
Reference:
1. World Bank Document: "Illicit Activity and Money Laundering from an Economic Growth Perspective" 1.
2. The Social Impact Of Money Laundering 2.
3. Money Laundering: History, Regulations, and Techniques 3.
4. The IMF and the Fight Against Illicit Financial Flows 4.
5. SSRN Paper: "Illicit Activity and Money Laundering from an Economic Growth" 5.
NEW QUESTION # 326
Combating the Financing of Terrorism (CFT)]
How can a 'free-look provision' as part of a life insurance policy help criminals to launder money?
- A. A policy owner has freedom to decide who the beneficiary of the policy will be and can in this way move money to an unrelated third party.
- B. A policy owner has freedom to decide who the beneficiary of the policy will be and can in this way move money to a related third party.
- C. A policy owner can decide how to pay the premium within a pre-defined period.
- D. A policy owner is able to terminate the contract without penalties such as surrender charges.
Answer: D
Explanation:
A free-look provision is a period of time, typically 10 to 30 days, in which a new life insurance policy owner can terminate the policy and have their premium refunded1. This can help criminals to launder money by purchasing a policy with illicit funds and then cancelling it within the free-look period to receive a clean check from the insurance company2. This way, they can disguise the source and origin of their funds and avoid any penalties or charges that would otherwise apply to early termination of the policy.
:
1: Investopedia, What Is a Free Look Period and How Does It Work?
2: FinCEN, Anti-Money Laundering Program and Suspicious Activity Reporting Requirements for Insurance Companies
NEW QUESTION # 327
Financial Intelligence Units (FIUs) are responsible for:
- A. receiving confirmed reports about committed crimes from accountable and reporting institutions.
- B. responding to requests from law enforcement agencies for information contained in regulatory reports.
- C. the timely dissemination of cases to law enforcement agencies.
- D. sharing evidence with other FIUs.
Answer: C
NEW QUESTION # 328
You plan to perform analytics of the medical records of patients located around the world.
You need to recommend a solution that avoids storing and processing data in the cloud.
What should you include in the recommendation?
- A. Azure Machine Learning services
- B. the Text Analytics API that has container support
- C. an Apache Spark cluster that uses MMLSpark
- D. Azure Machine Learning Studio
Answer: C
Explanation:
The Microsoft Machine Learning Library for Apache Spark (MMLSpark) assists in provisioning scalable machine learning models for large datasets, especially for building deep learning problems. MMLSpark works with SparkML pipelines, including Microsoft CNTK and the OpenCV library, which provide end-to-end support for the ingress and processing of image input data, categorization of images, and text analytics using pre- trained deep learning algorithms.
References:
https://subscription.packtpub.com/book/big_data_and_business_intelligence/9781789131956/10/ ch10lvl1sec61/an-overview-of-the-microsoft-machine-learning-library-for-apache-spark-mmlspark
NEW QUESTION # 329
Which of the following is the most likely reason for the Financial Action Task Force to remove a jurisdiction from the Non-Cooperative Countries and Territories list?
- A. Entering into a mutual legal assistance treaty.
- B. Conducting successful annual self-assessments.
- C. Joining the Wolfsburg Group.
- D. Receiving a favorable mutual evaluation.
Answer: A
NEW QUESTION # 330
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