ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 36 • ExamPrepare

308 questions in this view

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Question 211

What is a primary responsibility of a financial intelligence unit?

Provide expertise to Egmont working groups including the development of new techniques to launder money.
Publish suspicious activity reports so that entities subject to money laundering obligations are aware of the identities of criminals.
Legislate regulations that enhance the effectiveness of AML and sanctions compliance.
Act as an intermediary between the entities subject to money laundering obligations and law enforcement agencies.

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Question 212

A law enforcement agent is conducting an investigation into a possible money laundering event. During the investigation, the officer will use:

a risk-based approach alert generating system.
the follow the money approach.
confirmed evidence obtained from financial intelligence units.
a process to identify suspicious activity.

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Question 213

According to Basel Committee guidelines, which level of the organization should determine whether or not to enter business relationships with higher risk customers?

Account opening staff
First-level management
Middle management
Senior management

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Question 214

A typical red flag regarding potential money laundering in connection with an art purchase occurs when a customer:

asks to pay a large amount in cash without a comprehensible reason.
asks to pay in installments and pays from two differently named accounts.
pays more at an auction for a painting than the estimated maximum price.
buys a painting as an anonymous bidder and provides the source of wealth.

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Question 215

How does the Egmont Group assist financial intelligence unit members to accomplish their goals? (Select Three.)

Provides support to expand and systematize cooperation related to the reciprocal exchange of information
Develops official lists of suspected terrorists on a globally coordinated basis by relevant authorities
Supplies information on the common money laundering tactics used by terrorists and financial supporters of terrorism
Fosters better and secure communication through the application of technology
Maintains uniform global formats for funds transfers that assist in the detection of money laundering
Encourages operational autonomy of financial intelligence units

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Question 216

A compliance officer is reviewing transactions related to a company suspected of being involved in wildlife trafficking. Which of the activities below are common in wildlife trafficking schemes? (Select Two.)

Payment of transportation charges using a fraudulent financial instrument
Large dollar wire transfers between wildlife farms and firms operating in inconsistent lines of business
Exchanging fiat currency to cryptocurrency to accomplish payment to the wildlife farm
Activity involving politically exposed persons with environmental, game, or forestry oversight
Customer requests payment of proceeds to an unrelated third party

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Certified Anti-Money Laundering Specialist Practice Questions

Question 211

Question 212

Question 213

Question 214

Question 215

Question 216