Verified CAMS dumps Q&As - Pass Guarantee or Full Refund [Jan-2022]
CAMS PDF Dumps | Jan 17, 2022 Recently Updated Questions
Who should take the CAMS exam
The CAMS certification is an internationally-recognized credential that identifies persons who earn it as possessing specialized AML knowledge. AML professionals who earn the CAMS designation position themselves to be leaders in the business and to expertise professional growth. If a candidate wants significant improvement in career growth needs enhanced knowledge, skills, and talents. The CAMS certification provides proof of this advanced knowledge and skill. If a person fulfills the following eligibility requirements of the CAMS exam then he should take this exam.
- Submit supporting documents.
- Provide three professional references.
- Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
NEW QUESTION 181
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are deploying an Azure Machine Learning model to an Azure Kubernetes Service (AKS) container.
You need to monitor the scoring accuracy of each run of the model.
Solution: You modify the Config.json file.
Does this meet the goal?
- A. No
- B. Yes
Answer: A
Explanation:
Instead update the manifest file.
Reference:
https://azure.github.io/learnAnalytics-UsingAzureMachineLearningforAIWorkloads/lab07- deploying_a_scoring_service_to_aks/0_README.html
NEW QUESTION 182
Since its last regulatory examination, a financial institution has aggressively grown by adding profitable new products and services. The institution has not historically received regulatory criticism regarding its anti-money laundering compliance program. However, a recent regulatory examination cited significant deficiencies in the anti-money laundering program that were attributed primarily to the lack of oversight by the institution's leadership in implementing adequate controls over the new products and services.
Which area of international control should leadership first address to correct the weaknesses in the program?
- A. Anti-money laundering policy
- B. Money laundering risk assessment
- C. Anti-money laundering training
- D. Anti-money laundering compliance staff
Answer: B
Explanation:
Explanation/Reference:
NEW QUESTION 183
When a bank performs a risk assessment, what areas should an institution focus on?
- A. The geographic locations where the institution does business
- B. The type and location of the institution's clients
- C. The amount of the money the institution earns prior to taxes
- D. The nature and breadth of the services and products the institution provides
Answer: A,B,D
NEW QUESTION 184
An anti-money laundering officer for a financial institution has been conducting a monthly self assessment.
The officer reviews the accounts increase in compliance with a long standing know your Customer policy. The self- assessment for the latest month shows a significant increase in compliance deficiencies for the first time in more than a year. What is the nest course of action for the anti-money laundering officer to take?
- A. Determine if there is a readily identifiable cause for the deficiencies
- B. Revise the policy to simplify Know Your Customer compliance before the report is issued
- C. Inform the Board of Directors promptly of the Know Your Customer policy trend over the last six months.
- D. Implement a revision to the account-opening training program
Answer: D
NEW QUESTION 185
A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party.
What are two red flags that indicate money laundering? (Choose two.)
- A. Requesting a wire transfer to an unrelated third party
- B. Playing various games before cashing out
- C. Customer redeeming all remaining chips
- D. Bringing $15,000 worth of chips into the casino
Answer: A,C
NEW QUESTION 186
You need to deploy cognitive search.
You provision an Azure Search service.
What should you do next?
- A. Search by using the .NET SDK.
- B. Create an index.
- C. Load data.
- D. Search by using the REST API.
Answer: B
Explanation:
You create a data source, a skillset, and an index. These three components become part of an indexer that pulls each piece together into a single multi-phased operation.
Note: At the start of the pipeline, you have unstructured text or non-text content (such as image and scanned document JPEG files). Data must exist in an Azure data storage service that can be accessed by an indexer.
Indexers can "crack" source documents to extract text from source data.
References:
https://docs.microsoft.com/en-us/azure/search/cognitive-search-tutorial-blob
NEW QUESTION 187
Which three should real estate agents include in the criteria to assess their company's potential money laundering and terrorist financing risks when implementing a reasonable risk-based approach?
- A. Credit Risk
- B. Geographic Risk
- C. Transaction Risk
- D. Customer Risk
Answer: B,C,D
Explanation:
Reference:http://www.fatfgafi.org/media/fatf/documents/reports/RBA%20Guidance%20for%20Real%20Estate%20Agents.p df(page 20, second paragraph)
NEW QUESTION 188
Which measure to mitigate risk does the Basel Committee's Customer Due Diligence Principles suggest banks apply when accepting business from non-face-to-face customers?
- A. Requiring an in person interview with the customer
- B. Requiring additional review of account opening documents by senior management
- C. Certification of documents presented
- D. Imposing a limit on permissible account activity for a defined period of time
Answer: C
NEW QUESTION 189
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?
- A. An independent audit function to test the program.
- B. An ongoing employee training program.
- C. The development of a Know Your Customer program.
- D. The designation of a compliance officer.
Answer: B,D
NEW QUESTION 190
A United States (U.S.) bank was recently alerted by law enforcement of an increase in sale of large denomination U.S. bank notes to casas de cambio. They suspect that a Mexican syndicate is operating a money laundering scheme in the bank's jurisdiction.
Which two steps should be taken to trace funds through the bank to assist law enforcement in their investigation? (Choose two.)
- A. Identify deposits by casas de cambio that include third-party items including sequentially numbered monetary instruments
- B. Identify the money laundering scheme and submit a suspicious transaction report
- C. Identify multiple wire transfers initiated by casas de cambio to jurisdictions outside of Mexico that bear no apparent business relationship with that casa de cambio
- D. Identify if there is a decrease in the sale of large denomination U.S. bank notes to casas de cambio by the bank
Answer: A,C
NEW QUESTION 191
You plan to deploy an AI solution that tracks the behavior of 10 custom mobile apps. Each mobile app has several thousand users.
You need to recommend a solution for real-time data ingestion for the data originating from the mobile app users.
Which Microsoft Azure service should you include in the recommendation?
- A. Azure Event Hubs
- B. Apache Storm on Azure HDInsight
- C. Azure Service Bus queries
- D. Azure Service Bus topics and subscriptions
Answer: A
Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-in/azure/event-hubs/event-hubs-about
NEW QUESTION 192
A politically exposed person (PEP) maintains an account at a bank. Last month a money laundering analyst filed a suspicious transaction report about unusual wire deposits originated by unknown individuals in the home country of the official. Recently a negative news search revealed political corruption in the home country of the official.
To whom should this situation be escalated?
- A. The line of business executive
- B. The board of directors
- C. The bank's anti-money laundering officer
- D. The Financial Action Task Force's PEP Hotline
Answer: C
NEW QUESTION 193
With which person(s) should an anti-money laundering officer coordinate when implementing a new hire screening program?
- A. Human Resources
- B. Internal Auditor
- C. Local Financial Intelligence Unit
- D. Institution's Regulator
Answer: A
Explanation:
Explanation
NEW QUESTION 194
An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution. Which of the following should be included?
1. A training program for senior management and staff.
2. An anti-money laundering compliance program, internal audit program, and procedure manual.
3. Basel Committee on Banking Supervision's capital adequacy requirements for the host country.
4. Compliance requirements of host and chartering countries.
- A. 2, 3, and 4 only
- B. 1, 3, and 4 only
- C. 1, 2, and 3 only
- D. 1, 2, and 4 only
Answer: D
NEW QUESTION 195
What are two requirements of United States financial institutions when conducting business with an international institution as a result of the USA PATRIOT Act? (Choose two.)
- A. Complying with Special Measures issued under the USA PATRIOT Act
- B. Performing enhanced due diligence on shell banks
- C. Visiting the head office of the international financial institution
- D. Performing due diligence on correspondent accounts
Answer: A,B
NEW QUESTION 196
A client opens a bank account for a multi-level marketing company. The debits and credits of the account are numerous and very involved. Further, there are a lot of international transactions. Also, funds are being tunneled from the company to the client's personal account in another jurisdiction.
Which two steps should law enforcement take in investigating this matter? (Choose two.)
- A. Determine who are the signatories on the account
- B. Ask the bank for the history of this multi-level marketing company
- C. Examine possible Suspicious Activity Report information received from the local Financial Intelligence Units
- D. Examine the flow of money from the company to the individual in an effort to determine if it is legitimate
Answer: A,D
NEW QUESTION 197
According to the Financial Action Task Force 40 Recommendations, simplified customer due diligence or reduced measures could be acceptable for which of the following types of products or transactions?
1. Life insurance policies where the annual premium is no more than USD/EUR 1,000 or a single premium of no more than USD/EUR 2,500.
2. Insurance policies for pension schemes if there is no surrender clause and the policy cannot be used as collateral.
3. A pension that provides retirement benefits to employees.
4. Trusts where the settlor, trustee and beneficiaries are identified and the shares are in bearer form.
- A. 2, 3, and 4 only
- B. 1, 3, and 4 only
- C. 1, 2, and 4 only
- D. 1, 2, and 3 only
Answer: D
NEW QUESTION 198
A bank's anti-money laundering section receives an anonymous tip that a customer might be engaging in possible money laundering.
Which two facts should be considered during the course of an investigation into this matter? (Choose two.)
- A. The customer in on the exempt list for currency transaction reporting requirements
- B. The customer has had a long-standing account at the bank
- C. The customer is issuing a number of wires to several relatively high-risk jurisdictions
- D. The customer's account has had a large volume of activity, but the month-end balance is usually low
Answer: C,D
NEW QUESTION 199
The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information from non-U.S. banks that hold a correspondent account.
Which two pieces of information must a non-U.S. bank provide to its U.S. correspondent to enable them to comply with this requirement? (Choose two.)
- A. The name and address of all beneficial owners who own 25% or more of the bank
- B. The name and address of all shell banks the bank maintains accounts for
- C. The name and address of a U.S. person who is authorized to receive service of legal process for the bank
- D. Prompt notice of any suspicious activity it detects on any customer who uses the correspondent account
Answer: A,D
NEW QUESTION 200
Which action should an FIU consider taking when it has information that might be useful to another FIU?
- A. Take no action until contacted by the other FIU
- B. Request approval from the Egmont Group prior to sharing the information with the other FIU
- C. Supply the information to the other FIU spontaneously as soon as the relevance of sharing theinformation is identified
- D. In accordance with Wolfsberg guidelines, submit the information to the other FIU in writtenform
Answer: C
NEW QUESTION 201
A profitable commercial customer who operates an import-export business has multiple accounts with the same institution at branches in different locations. The customer receives funds from a jurisdiction perceived as highly corrupt according to Transparency International ratings. The customer makes frequent transfers among the accounts and prefers to manage the accounts separately. What should the institution do to mitigate the risk associated with these accounts?
- A. Develop a system to monitor all the activity
- B. Diminish the importance of the subjective Transparency International rating
- C. Conduct a trade-pnce manipulation analysis
- D. File a suspicious transaction report
Answer: D
NEW QUESTION 202
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