ACAMS Certified Anti-Money Laundering Specialist Question Bank: Page 7 • ExamPrepare

302 questions in this view

Page 7 of 51

Question 37

Which measures help to ensure that the name screening process is effective in identifying potential risk? (Select Three.)

Conduct regular testing to validate that the screening system is performing as expected
Define in policies and procedures the screening scope, frequency, and how alerts should be adjudicated
Assign one designated person to ensure consistent implementation of the screening control process
Conduct a risk assessment for risk-based decisions on what data attributes to screen, frequency, and screening database
Identify the most commonly used name screening database in the industry

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Question 38

A financial institution, headquartered in Germany and with branches in the UK and US, would be legally required to comply with which of the following? (Select Three.)

Wolfsberg Group Payment Transparency Standards
USA PATRIOT Act
EU 6th Anti-Money Laundering Directive
Proceeds of Crime Act
FATF Recommendations

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Question 39

Technology has the potential to increase the efficiency and effectiveness of anti-money laundering (AML) and countering the financing of terrorism (CFT) workflows and efforts by: (Select Two.)

eliminating backlogs through a computer's ability to process large volumes of data.
minimizing human intervention in repetitive tasks, increasing data accuracy.
minimizing privacy concerns through minimized human intervention.
allowing for automatic one-stop search at the front-end by analysts.

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Question 40

Which types of training best enhance staff awareness for prevention of financial crime risks? (Select Two.)

Organizational values and ethical guidelines
Identifying and reporting suspicious activities
Customer engagement strategies
Simulations of real-world financial crime scenarios

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Question 41

Which regulation permits financial institutions, upon providing notice to the US Department of the Treasury, to share information with one another in order to identify and report activities that may involve money laundering or terrorist activity to the federal government?

USA Patriot Act Section 314(b)
USA Patriot Act Section 314(a)
Regulation (EU) 2024/1624 of the European Parliament
Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases (COSMIC)

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Question 42

A financial institution risk assessment should be designed to categorize impact and probability of:

residual risk only.
capital at risk.
value at risk.
inherent and residual risks.

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Certified Anti-Money Laundering Specialist Practice Questions

Question 37

Question 38

Question 39

Question 40

Question 41

Question 42