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Free ACAMS CAMS Practice Exam with Questions & Answers | Set: 12

Questions 111

A large financial institution (FI) is considering expanding business to an area of the world with weak AML laws. The risk-based assessment indicates that the location will increase the FI's risk appetite beyond the stated acceptable amount.

Which risk factors should be used to identify the priority of the FI?

Options:
A.

Cash-intensive businesses risks

B.

Unknown third-party risks

C.

Geographic risks

D.

Anonymous transactions risks

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Questions 112

Which regulation is the cornerstone of AML/CFT legislation in the United States and requires financial institutions (FIs) to establish and maintain robust AML programs, including customer identification and due diligence procedures, as well as record-keeping and reporting of certain transactions to the Financial Crimes Enforcement Network (FinCEN)?

Options:
A.

USA PATRIOT Act

B.

Bank Secrecy Act (BSA)

C.

Money Laundering Control Act (MLCA)

D.

Markets in Crypto-Assets Regulation (MiCA)

Questions 113

According to the Financial Action Task Force (FATF) methodology, which situations would require a financial institution (FI) to consider filing a suspicious activity report?

Options:
A.

A beneficiary of a transaction is a politically exposed person.

B.

A FI is unable to verify the relevant customer due diligence documents.

C.

A FI identifies the payer is a dealer in precious metals or stones.

D.

A transaction involves funds exchanged from crypto to fiat currencies.

Questions 114

Which of the options below is an indicator of potential insider activity that may warrant escalation For further investigation?

Options:
A.

A relationship manager advocates for overriding the results of the company's client risk rating model that resulted in a client's high-risk rating.

B.

An If employee shares information about a firm's risk management framework with employees of other firms at an industry convention.

C.

An investigator does not complete the automated transaction monitoring system alerts assigned to them before the time required by company procedures.

D.

A relationship manager makes an exception to company policy and proceeds with onboarding a customer without documenting a passport for customer identification

Questions 115

A bank organized under foreign law and located outside of the US maintains a correspondent banking relationship with a US-based bank to handle financial transactions in US dollars for its clients. In compliance with the USA PATRIOT Act of 2001, all US banks and broker-dealers in securities must obtain a signed certification from all non-US foreign bank clients conducting business with them.

What information does the USA PATRIOT Act of 2001 require the foreign bank to certify to the US bank? (Select Three.)

Options:
A.

The foreign bank will not allow indirect use of the correspondent bank accounts by Politically Exposed Persons (PEPs)

B.

The jurisdictions in which the foreign bank maintains a physical presence

C.

The foreign bank's operations will be limited to the country of incorporation

D.

The ownership details of the foreign bank

E.

The foreign bank will not allow indirect use of the correspondent bank accounts by shell banks

Questions 116

An internal audit team is reviewing the anti-financial crime (AFC) program of its firm.

Which of the following attributes of the third line of defense would be most critical to ensure unbiased and effective oversight?

Options:
A.

Consistency of approach

B.

Periodic training of the function

C.

Qualification of the team

D.

Independent testing

Questions 117

Which of the following are best practices to raise awareness and train staff regarding the risks related to financial crime? (Select Three.)

Options:
A.

Tailor training and offer regular training to all employees

B.

Train outside of daily operations and promote awareness of Compliance

C.

Train core AML topics once per year, at a minimum, to relevant employees

D.

Use a variety of training methods and provide necessary resources to employees

E.

Communicate regularly and measure effectiveness of training

Questions 118

A financial institution is designing an enterprise-wide risk assessment (EWRA).

According to the guidance issued by the Wolfsberg Group regarding a risk-based approach to identifying and managing money laundering risks, an effective approach should:

Options:
A.

Focus on understanding the risks presented by new clients within the assessment period, and the controls to mitigate associated money laundering risks.

B.

Include appropriate measures and controls to mitigate money laundering risks stemming from higher-risk customers, products, and geographies.

C.

Focus on the inherent risk in the FI's product and service offerings and the controls to mitigate potential money laundering risks.

D.

Use a framework provided by a third-party vendor and used by other FIs in the jurisdiction.

Exam Code: CAMS
Certification Provider: ACAMS
Exam Name: Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Last Update: Feb 21, 2026
Questions: 395

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