ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 40 • ExamPrepare

308 questions in this view

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Question 235

How does the Asian/Pacific Financial Action Task Force (FATF)-Style Regional Body help its members implement recommendations from the FATF? (Select Two.)

Encourages cooperative AML efforts in the region
Endorses regulations that define money laundering based on the model laws issued by the respective member states
Facilitates the adoption and implementation of internationally accepted AML measures by member jurisdictions
Promotes laws that allow judicial challenges to seizure orders by an administrative body
Requires members to maintain lists of regional money laundering and terrorists financing issues relevant to their region

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Question 236

What are the rules imposed by the Office of Foreign Assets Control (OFAC) for legal entities and persons related to the US? (Select Two.)

A subsidiary of a legal entity of the US, which is formally registered in a foreign country, is exempt from OFAC rules.
A foreign individual visiting the US for a short vacation is obligated to follow OFAC rules.
Nationals of the US must comply with OFAC rules, regardless of where they are located in the world.
The head office of a foreign legal entity which has a branch in the US does not need to comply with OFAC rules.
Any foreign corporation is also penalized if it conducts transactions with sanctioned countries under OFAC rules.

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Question 237

Which action does the Financial Action Task Force call on member countries to take in the most serious cases when countries have significant strategic AML deficiencies?

Apply countermeasures
Contribute to mutual evaluations
Eliminate all financial dealings
Report high-risk transactions

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Question 238

According to the Financial Action Task Force, financial institutions should exit the relationship with a client in which case?

The client is a politically exposed person.
The client refuses to update information.
The country of incorporation has been elevated to high-risk.
There is a change in ownership structure.

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Question 239

Customers of a telecommunications firm received an email explaining an issue with their last order. The customers were directed to the company website via a link in the email to provide personal information. Both the email and website were fake. What type of cybercrime has been committed?

Cryptojacking
Spear phishing
Malware
Tumbling

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Question 240

A company contracts a life insurance policy with a savings feature of 100,000 USD for an individual in a high-risk country. The policy receives monthly cash deposits from unknown third parties. A minimal part of the deposit is invested and the rest is withdrawn by the end of the month. Which are the circumstances to consider as a risk for money laundering? (Select Two.)

Unidentified third parties depositing cash to the policy
A company established in a high-risk country contracting a policy for a domestic individual
A policy for an amount of 100,000 USD is to be considered high and suspicious
The regular withdrawals from the policy by the end of the month
A life insurance policy with a savings feature for a national from a high-risk country

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Certified Anti-Money Laundering Specialist Practice Questions

Question 235

Question 236

Question 237

Question 238

Question 239

Question 240