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Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Questions and Answers

Question 37

When services are provided by a trust and company service provider (TCSP) connected to a high-risk country, which of the following may present an immediate financial crime risk concern?

Options:

A.

Management structure

B.

Governance framework

C.

Asset structure

D.

Origin of the funds

Question 38

Risks associated with real estate transactions include (Select Two.)

Options:

A.

cross-border purchases.

B.

purchases in the name of a natural person.

C.

paying true market price for a property.

D.

non-financed purchases.

Question 39

An employee in a corporation's finance department hears news of an internal investigation into potential fraud within the company, quits her job, and disappears.

If they had been observed before her resignation, which characteristics of the employee would have been considered red flags? (Select Two.)

Options:

A.

The employee was originally from a high-risk jurisdiction

B.

The employee had friends in high-risk industries

C.

The employee had a lavish lifestyle for her income

D.

The employee was constantly evasive about the reasons for leaving her previous corporate finance job

Question 40

News published in Country A reports that a politically exposed person (PEP) had received a bribe from a transnational company headquartered in a developing country of approximately USS1.5 million deposited into on account at a financial institution (Fl> located in Country B Both countries are members of the Egmont Group The account where the money was deposited belongs to the PEP's immediate family member. To corroborate the facts, the PIU of Country A sent a formal request via secure communication channels for further information from its counterpart FIU in Country B.

According to Egmont principles, the FIU of Country B can:

Options:

A.

provide the information available to them because the exchange is between two FlUs that are members of the Egmont Group, and the formal request was made using secure communication channels.

B.

provide the requested information only if a memorandum of understanding (MoU) is signed between Country A and Country

C.

direct the FIU of Country A to the Fl where the account was opened for further information.

D.

deny the request if the FIU of Country B has not received a suspicious activity report (SAR) from the Fl where the account was opened.

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Total 395 questions
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