FREE CAMS Emerging Trends Questions and Answers

Question 1

Which of the following entities may be more at risk from TPPPs that offer services to financial institutions?

Accepted Answer

online retailers

Answer

Platforms for online shopping that take PayPal

Question 2

Mark intends to establish an MSB in the US; aside from the option(s) listed below, which one(s) does he need to do first?

Accepted Answer

Give instruction on health and safety.

Answer

Perform impartial evaluations and audits

Answer

Possess written internal controls, policies, and procedures for AML

Answer

Name an Officer under the Bank Secrecy Act (BSA)

Answer

Keep an eye on transactions for any unusual behavior.

Question 3

Which of the following describes possible money laundering typologies in relation to internet gambling?

Accepted Answer

Using a stolen identity, a money launderer deposits money into an online gaming account. Using the money, he or she places bets and either wins or incurs manageable loses.

Answer

A money launderer obtains a sizable sum of money from gamblers by having them deposit money in a bank under the gambler's alias.

Question 4

When identifying potentially suspect activity in the tourism business, what should an AML officer look for?

Accepted Answer

Create networks of tour operators using fictitious reservations and supporting documentation to defend large sums of money from international travel agencies.

Answer

Purchasing opulent lodging and additional travel-related costs, then requesting a refund later on.

Question 5

Which of the following is/are the FATF member's objective(s) that they do not have?

Accepted Answer

When it is thought necessary, collaborate with JFIU to conduct an investigation and exchange STR information.

Answer

Encourage the FATF Recommendations to be adopted and implemented worldwide.

Answer

Establish guidelines for the efficient application of legislative, regulatory, and operational measures aimed at preventing the funding of terrorism and money laundering.

Answer

Tracks how well each nation is doing in putting the FATF recommendations into practice.

Answer

Examines methods and countermeasures for money laundering and financing of terrorism.

Question 6

Karla is employed by the Technical Compliance Assessment department as an assessor. One of her responsibilities is to determine if a nation complies with the FATF standard. Which of the following ratings are possible?

Accepted Answer

All mentioned

Answer

Only partially adhering

Answer

Obedient

Answer

Incompliance

Answer

Not relevant

Answer

Generally in compliance

Question 7

The comprehensive list of acceptable standards that FATF has provided for countries to adopt is a crucial component of its work. Which of the following describes these measures? It was first published in 1990 and updated in 1996, 2003, and 2012.

Accepted Answer

The Recommendations of FATF 40

Answer

The mandate of the FATF

Answer

FATF-approved standards

Answer

The FATF's Ten Commandments

Answer

The FATF's 21 Irrefutable Laws

Question 8

Which of the following KYC program components is the Basel Committee's 2001 study emphasizing?

Accepted Answer

Monitor.

Answer

Management of customer complaints

Question 9

Troy is responsible for creating customer acceptance rules and processes at his bank. Which of their customers' attributes should the policy list in order to determine who qualifies as a legitimate customer?

Accepted Answer

Origin country of the customer

Answer

Customer relationships

Question 10

Given that establishing records that allow law enforcement to link financial transactions to the individuals who undertake them is one of the main goals of AML regulations. Which of the following documents should banks keep on file?

Accepted Answer

Input all of the CDD data into the IT system.

Answer

Provide a customer relationship management (CRM) system so that employees may quickly find client information.