Get New 2022 Valid Practice CAMS Certification CAMS Q&A - Testing Engine
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The benefit in Obtaining the CAMS Exam Certification
- Increasing their skilled worth through a higher understanding of financial crime detection and hindrance techniques
- Protecting their company from money laundering threats and minimize money crime risks
- ACAMS conducted a survey recently and the findings were pretty interesting on average, professionals who had their ACAMS made $25,000 more than their colleagues who did not have the CAMS certification!
- Proving their AML experience to examiners and regulators
- Meeting mandated AML training needs through preparation and study
How to book the CAMS Exam
These are following steps for registering the CAMS exam.
Step 1: Fill your contact and membership information form Step 2: Select your CAMS exam package and certification language Step 3: Select any payment method and write the certification name Step 4: Mail or Fax exam application with attached necessary documents (diploma, copies etc) that fulfill the 40 credit prerequisite to this address:
ACAMS Attn. Certification Department Brickell City Tower 80 Southwest 8th Street, Suite 2350 Fax: +1.305.373.7788 or +1.305.373.5229
How much CAMS Exam Cost
There are two options. Candidate can choose either with a virtual classroom package or without a virtual classroom package.
Price and benefits of with virtual classroom package
- The price of this package is $1,880 for private sectors and $1,540 for public sectors
- This package consists of a CAMS study guide, Online Preparation Course, CAMS Virtual classroom and CAMS Examination
Price and benefits of without virtual classroom package:
- This package consists of a CAMS study guide, Online Preparation Course and CAMS Examination
- The price of this package is $1,459 for private sectors and $1,145 for public sectors
NEW QUESTION 108
Which three actions should employees be instructed to do during an internal investigation?
- A. Keep a log of the documents requested
- B. Provide corporate documents directly to law enforcement
- C. Make copies of all documents provided to law enforcement
- D. Inform counsel of all request for documentation
Answer: A,C,D
NEW QUESTION 109
Which method do terrorist financiers use to move funds without leaving an audit trail?
- A. Casa de cambio
- B. Cash couriers
- C. Extortion
- D. Virtual currency
Answer: B
NEW QUESTION 110
A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, had totaled about as much as the customer intended to deposit. What should the junior account manager do?
- A. Notify the anti-money laundering specialist of his bank, but do not call the customer
- B. File a suspicious transaction report with the Financial Intelligence Unit
- C. Close the account
- D. Offer the customer a more secure method of depositing in the hope of learning something more during the conversation
Answer: B
NEW QUESTION 111
Historically, which vehicle is most often used to hide beneficial ownership?
- A. A charitable organization
- B. A limited liability partnership
- C. An offshore company
- D. Professional association
Answer: A
NEW QUESTION 112
You are designing an AI workflow that will aggregate data stored in Azure as JSON documents.
You expect to store more than 2 TB of new data daily.
You need to choose the data storage service for the data. The solution must minimize costs.
Which data storage service should you choose?
- A. Azure Blob Storage
- B. Azure Manage Disks
- C. Azure File Storage
- D. Azure Data Lake Storage
Answer: A
Explanation:
Generally, Data Lake will be a bit more expensive although they are in close range of each other. Blob storage has more options for pricing depending upon things like how frequently you need to access your data (cold vs hot storage). Data Lake is priced on volume, so it will go up as you reach certain tiers of volume.
References:
http://blog.pragmaticworks.com/azure-data-lake-vs-azure-blob-storage-in-data-warehousing
NEW QUESTION 113
Which method most likely indicates the placement stage of laundering dirty money in a land based casino?
- A. Redeeming smaller denomination casino chips for largest denomination chips
- B. Buying casino chips against a bank draft
- C. Transferring substantial amounts of money from a client's credit card to a client's casino's VIP account
- D. Using cash to buy casino winnings from legitimate winners at a premium
Answer: D
NEW QUESTION 114
You plan to design a solution for an AI implementation that uses data from IoT devices.
You need to recommend a data storage solution for the IoT devices that meets the following requirements:
* Allow data to be queried in real-time as it streams into the solution.
* Provide the lowest amount of latency for loading data into the solution.
What should you include in the recommendation?
- A. a Microsoft Azure Table Storage solution
- B. a Microsoft Azure HDInsight Hadoop cluster
- C. a Microsoft Azure SQL database that has In-Memory OLTP enabled
- D. a Microsoft Azure HDInsight R Server cluster
Answer: B
Explanation:
You can use HDInsight to process streaming data that's received in real time from a variety of devices.
Internet of Things (IoT)
You can use HDInsight to build applications that extract critical insights from data. You can also use Azure Machine Learning on top of that to predict future trends for your business.
By combining enterprise-scale R analytics software with the power of Apache Hadoop and Apache Spark, Microsoft R Server for HDInsight gives you the scale and performance you need. Multi-threaded math libraries and transparent parallelization in R Server handle up to 1000x more data and up to 50x faster speeds than open-source R, which helps you to train more accurate models for better predictions.
References:
https://docs.microsoft.com/en-us/azure/hdinsight/hadoop/apache-hadoop-introduction
NEW QUESTION 115
When creating an anti-money laundering program for a foreign bank with branches in the United States, which of the following are included among the four minimum elements required under the USA PATRIOT Act?
1. The development of a Know Your Customer program.
2. An ongoing employee training program.
3. The designation of a compliance officer.
4. An independent audit function to test the program.
- A. 1, 2, and 4 only
- B. 2, 3, and 4 only
- C. 1, 3, and 4 only
- D. 1, 2, and 3 only
Answer: B
NEW QUESTION 116
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?
- A. Protests of government action
- B. Driving while under the influence
- C. Kidnapping
- D. Offenses involving dishonesty
Answer: D
Explanation:
Explanation/Reference:
Reference: http://www.capitol.hawaii.gov/hrscurrent/vol07_ch0346-0398/HRS0378/HRS_0378-0003.htm (See 9th point)
NEW QUESTION 117
How should a financial institution respond to a verbal request from a law enforcement agency to keep an account open to assist in an investigation?
- A. Request a search warrant from the local court
- B. Agree to keep the account open
- C. Request a subpoena to maintain the account
- D. Request a letter on the agency's letterhead
Answer: D
Explanation:
Explanation/Reference: http://files.acams.org/pdfs/English_Study_Guide/Chapter_5.pdf (12)
NEW QUESTION 118
A bank located in New York has identified suspicious transactions at a correspondent bank in China. For one of the international customers, the correspondent bank is not following agreed upon protocols.
Which factor indicates that the bank should terminate the relationship?
- A. The correspondent bank has opened branches in a country on the Office of Foreign Assets Control list.
- B. The compliance officer at the correspondent bank is currently being investigated due to bribery allegations.
- C. The correspondent bank has recently exceeded acceptable limits in the primary banks' recently developed risk model.
- D. The primary institution has requested transactional details from the correspondent bank to aide in their investigation.
Answer: C
Explanation:
Explanation
NEW QUESTION 119
Which two methods can be used to structure casino-related transactions? (Choose two.)
- A. One time deposit of cash at a single gaming machine
- B. Purchase of chips at multiple gaming tables
- C. Playing at the same game
- D. Use of third parties to conduct transactions
Answer: B,D
NEW QUESTION 120
Which statement is true about when an institute becomes aware that a particular employee is under investigation by law enforcement as a result of a subpoena or warrant?
- A. The institute has a duty as an employer to inform the employee he or she is under investigation by law enforcement, buy must not inform them that a warrant or subpoena has been received
- B. The employee can and should be interviewed, as well as notified of the investigation to demonstrate the seriousness of the offence and to get the employee's full attention and cooperation
- C. Under no circumstances can the employee be interviewed by the institution without the consent of law enforcement for fear of tipping the employee off
- D. If an independent investigation provides grounds to interview the employee, they can be interviewed and, if necessary, terminated buy not advised that they are under investigation
Answer: B
NEW QUESTION 121
What does the Egmont Group's support for its members include?
- A. Expanding the ability of FIUs to enforce laws and exchange information globally to combat money laundering and terrorist financing
- B. Expanding and systematizing international cooperation in the reciprocal exchange of information
- C. Issuing due diligence models for financial institutions
- D. Issuing strategic products for law enforcement agencies and FIUs on topics of international interest
Answer: B
Explanation:
Explanation/Reference: https://egmontgroup.org/en/content/membership
NEW QUESTION 122
An anti-money laundering specialist working at a bank just received a legal request from a law enforcement agency mandating the release of all financial transaction records relating to an account at the bank. The specialist immediately recognizes the account as one owned by the bank Chief Executive Officier's brother. During research to gather the requested documents, the specialist finds several internal memos he had sent to the bank president with concerns regarding possible suspicious activity relating to this account. The specialist recalls the bank president verbally responded to each memo with an explanation of the activity and indicated there was no cause for concern. What should the specialist do with respect to these internal memos?
- A. Call the law enforcement agent and suggest he modify the legal request to include these memos
- B. Place these memos in his personal files in case they are subsequently requested
- C. Ask the bank president to document his instructions to the specialist
- D. Advise the bank's senior legal advisor of the situation
Answer: D
NEW QUESTION 123
Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the world they serve.
What is one of the methods they use to understand these risks?
- A. They conduct global research on money laundering and terrorist financing trends and report their findings in their own typologies report
- B. They require participating financial institutions of their members to file suspicious transaction reports to the regional body
- C. They conduct regional-level research and analysis of the money laundering and terrorist financing methods and trends using standards and templates used for FATF typologies reports
- D. They require member countries to develop statistical metrics over money laundering and terrorist financing crimes
Answer: B
Explanation:
Explanation/Reference: https://www.fatf-gafi.org/media/fatf/documents/recommendations/Private-Sector-Information- Sharing.pdf (18)
NEW QUESTION 124
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CAMS Braindumps Real Exam Updated on Jan 02, 2022 with 542 Questions: https://www.practicematerial.com/CAMS-exam-materials.html
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