ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 32 • ExamPrepare

308 questions in this view

Page 32 of 52

Question 187

Which approach ensures the successful implementation of a transaction monitoring system?

Taking great care to minimize changes to transaction monitoring system rules and parameters once these have been certified as accurate
Ensuring all checks of a transaction monitoring system's rules and parameters use actual live data after the system is operational
Performing systems integration testing at key steps of development and user acceptance testing prior to going live with the transaction monitoring system
Implementing third-party transaction monitoring software, taking great care not to adjust pre-programmed rules and alerting thresholds

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Question 188

Which is an objective of the Financial Action Task Force (FATF)-Style Regional Bodies (FSRBs)?

To work independently from FATF and to be closely involved in improving law enforcement outcomes in their regions
To work in parallel with FATF by operating on the basis of (mutual, joint, or common) recognition of their work
To issue their own recommendations, considering local typologies, ignoring the FATF 40 recommendations
To enforce implementation of the FATF recommendations amongst its member countries

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Question 189

Which is a purpose of imposing sanctions?

Encourage business deals
Limit opportunities for desirable behavior
Deter countries from choosing a desirable course of action
Accomplish foreign policy and national security goals

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Question 190

A compliance analyst has recently investigated an account where money was deposited in amounts below the reporting limit and almost entirely withdrawn in a foreign country. Which type of money laundering is the compliance analyst potentially identifying?

Microstructuring
Structuring
Trade-based
Check Kiting

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Question 191

A potential client calls a broker-dealer wishing to purchase securities. The client does not appear to be concerned with any fees associated with the account or price of the securities. Further information provided by the potential client indicates the individual may have relatives working for a company in which the potential client wants to invest. Which type of activity might the potential client be attempting?

Usage as a deposit account
Transfer of value to relatives
Usage of insider information
Transfer funds to a third party

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Question 192

To understand if the customer operates in line with the firm's risk appetite for a specific industry segment, a financial institution must:

obtain sufficient customer information to understand the nature and purpose of customer relationships for the purpose of developing a customer risk profile.
obtain the name, date of birth for an individual, address and identification number from each customer before opening the account.
obtain identifying information for beneficial owners through a completed certification form from the individual opening the account on behalf of the legal entity customer.
obtain the name and address, country identification number and date of birth of a non-customer who purchases a monetary instrument.

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Certified Anti-Money Laundering Specialist Practice Questions

Question 187

Question 188

Question 189

Question 190

Question 191

Question 192