100% PASS ACAMS CAMS - FIRST-GRADE VALID CERTIFIED ANTI-MONEY LAUNDERING SPECIALISTS EXAM CAMP PDF

100% Pass ACAMS CAMS - First-grade Valid Certified Anti-Money Laundering Specialists Exam Camp Pdf

100% Pass ACAMS CAMS - First-grade Valid Certified Anti-Money Laundering Specialists Exam Camp Pdf

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The ACAMS CAMS exam consists of multiple-choice questions and covers a broad range of topics, including AML regulations, customer due diligence, sanctions screening, and suspicious activity reporting. CAMS Exam is available in multiple languages and can be taken online or at a physical test center.

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Latest and Real CAMS Exam Questions in Three User-Friendly Formats

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ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q333-Q338):

NEW QUESTION # 333
OFAC-issued regulations apply to which entities? (Choose two.)

  • A. Foreign subsidiaries of US banks
  • B. Foreign import-export companies
  • C. US branches of a foreign bank
  • D. Intermediaries transacting with US banks
  • E. Foreign banks with US customers

Answer: A,C

Explanation:
OFAC-issued regulations apply to all U.S. persons, including U.S. banks, bank holding companies, and non-bank subsidiaries, regardless of where they are located. This means that foreign subsidiaries of U.S. banks and U.S. branches of a foreign bank are also subject to OFAC compliance. However, intermediaries transacting with U.S. banks, foreign banks with U.S. customers, and foreign import-export companies are not necessarily subject to OFAC regulations, unless they are involved in transactions that involve U.S. jurisdiction or U.S. persons.
Reference:
Basic Information on OFAC and Sanctions
OFAC Consolidated Frequently Asked Questions
Office of Foreign Assets Control - Overview


NEW QUESTION # 334
Which of the following is the best action to take regarding a particular account once suspicious activity is reported by the institution?

  • A. Secure all supporting documentation.
  • B. Immediately close the account.
  • C. Freeze the funds pending notification from the competent authority.
  • D. Notify the client that the transaction has been reported.

Answer: A

Explanation:
According to the BSA/AML Manual1, once a financial institution files a SAR, it should maintain a copy of the SAR and the original or business record equivalent of any supporting documentation for a period of five years from the date of filing the SAR. The supporting documentation should be identified and maintained by the financial institution as such, and be deemed to have been filed with the SAR. The financial institution should make all supporting documentation available to FinCEN or any federal, state, or local law enforcement agency, or any federal regulatory authority that examines the financial institution for compliance with the BSA, upon request. Therefore, the best action to take regarding a particular account once suspicious activity is reported by the institution is to secure all supporting documentation, as it may be needed for further investigation or examination.
Reference:
BSA/AML Manual1
Suspicious Activity Reporting - Overview2
Suspicious Activity Report (SAR) Basics3


NEW QUESTION # 335
Which measure to mitigate risk does the Basel Committee's Customer Due Diligence Principles suggest banks apply when accepting business from non-face-to-face customers?

  • A. Certification of documents presented
  • B. Imposing a limit on permissible account activity for a defined period of time
  • C. Requiring additional review of account opening documents by senior management
  • D. Requiring an in person interview with the customer

Answer: A

Explanation:
Explanation/Reference: https://books.google.com.pk/books?id=gy8qBAAAQBAJ&pg=PA219&lpg=PA219&dq=measure+to
+mitigate+risk+does+the+Basel+Committee+Customer+Due+Diligence+Principles+suggest+banks+apply
+when+accepting+business+from+non-face-to-face
+customers&source=bl&ots=f52JnPYdW4&sig=ACfU3U2egwrWQj86a6eLQQ3Ew4EcR2bSVQ&hl=en&sa=X& ved=2ahUKEwid85bjmJzoAhWiwOYKHXYJBEQQ6AEwCnoECBQQAQ#v=onepage&q=measure%20to%
20mitigate%20risk%20does%20the%20Basel%20Committee%20Customer%20Due%20Diligence%
20Principles%20suggest%20banks%20apply%20when%20accepting%20business%20from%20non-face-to- face%20customers&f=false


NEW QUESTION # 336
You need to configure versioning and logging for Azure Machine Learning models.
Which Machine Learning service application should you use?

  • A. Activities
  • B. Pipelines
  • C. Experiments
  • D. Models
  • E. Deployments

Answer: E

Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/azure/machine-learning/service/how-to-enable-logging#logging-for-deployed- models


NEW QUESTION # 337
According to the Financial Action Task Force 40 Recommendations, Designated Non-Financial Businesses and Professionals include which entities?

  • A. Commodities traders
  • B. Money services businesses
  • C. Real estate agents
  • D. Hawala operators

Answer: C

Explanation:
Reference: http://www.fatfgafi.org/media/fatf/documents/recommendations/pdfs/FATF%20Recommendations%20
(approved%20February%202012)%20reprint%20May%202012%20web%20version.pdf (page 19, DNFBPs: customer due diligence, bulleted point (b))


NEW QUESTION # 338
......

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