ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 25 • ExamPrepare

Question 145

Which should be provided to the board of directors or designated specialized committee when preparing suspicious activity reports (SARs)?

Names of all customers subject to SARs filed during the reported period
Copies of all SARs filed during the reported period
Statistical data regarding SARs filed during the reported period
All possible details of SARs filed during the reported period

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Question 146

According to the USA PATRIOT Act, under which condition would US financial institutions (FIs) maintain correspondent accounts for foreign shell banks?

US FIs must undertake a rigorous, risk-based approval process to open correspondent bank accounts for foreign shell banks.
US FIs can open correspondent bank accounts for foreign shell banks but only in certain countries.
US FIs must be certified by the Financial Action Task Force to maintain correspondent accounts for foreign shell banks.
US FIs cannot maintain correspondent bank accounts for foreign shell banks.

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Question 147

The regulators of a US financial institution find that the institution has failed to establish and maintain a reasonably designed AML program. Which regulatory actions should be taken? (Select Two.)

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Question 148

At a minimum, who should receive role-specific AML training? (Select Three.)

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Question 149

A customer's registered business activity is a domestic carpet cleaning company. Besides domestic receipts, there are incoming weekly transactions from an international reputable auction house starting at 15,000 USD and averaging 30,000 USD. The matching cash outgoings amount to 90% of the incoming deposits to non-related individuals. Which is most concerning for potential money laundering?

The customer is a domestic carpet cleaning company.
The customer is paying 90% of the incoming proceeds to non-related individuals in cash.
The customer's international incomings are from an international reputable antique auction house.
The customer's initial international receipt has increased from 15,000 USD to an average of 30,000 USD per transaction per week.

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Question 150

What should a bank do if it suspects one of its employees may be involved in mortgage loan fraud?

Conduct an investigation by gathering and analyzing information on the employee.
File a suspicious activity report on the employee's activities if management thinks it is suspicious.
Automatically file a police report about the employee's potential misconduct.
Initiate civil litigation against the employee to recover damages for losses incurred.

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Certified Anti-Money Laundering Specialist Practice Questions

Question 145

Question 146

Question 147

Question 148

Question 149

Question 150