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Exam Dumps CAMS7 Pdf, CAMS7 Valid Mock Test

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q81-Q86):

NEW QUESTION # 81
The relationship manager in the corporate banking department at a bank is required to take specialized AML training tailored to the risks the department is most likely to encounter.
Which types of content are most appropriate for this training? (Select Two.)

A. Money laundering typologies applicable to monetary instrument reporting
B. Applicable AML laws and regulations
C. Regulatory exam best practices
D. Money laundering typologies applicable to corporate loans

Answer: B,D

Explanation:
Specialized AML training must be relevant to the specific risks the corporate banking team faces, including legal/regulatory expectations and the ML/TF typologies applicable to their products and customer base.
* Applicable AML laws and regulations (B):"Staff must be aware of the applicable AML/CFT laws and regulatory requirements relevant to their business area."(CAMS 6th Edition, Chapter: AML Training and Awareness)
* Money laundering typologies applicable to corporate loans (D):"Training should include typologies and red flags that are most relevant to the risks present in the specific business line, such as corporate lending."(CAMS 6th Edition, AML Training for High-Risk Departments) Incorrect Options:
* A: Monetary instrument reporting is more relevant to retail/branch banking.
* C: Regulatory exam best practices are for compliance teams, not business-line relationship managers.
References:
CAMS 6th Edition, AML Training and Awareness
FATF Guidance: Risk-Based Approach to Banking Sector

NEW QUESTION # 82
Which of the below would be relevant money laundering red flags for life insurance companies?
(Select Two.)

A. Natural persons having more than one insurance policy
B. High-premium life insurances that provide high payouts
C. Paying premium several years in advance and terminating early for a refund
D. Beneficiary payouts to elderly people
E. Regularly switching policies and accepting penalties

Answer: C,E

Explanation:
Paying premium several years in advance and terminating early for a refund (A):"A typical red flag is when a policyholder pays large premiums up front and then seeks early termination to receive a refund. This can be used to launder illicit funds by integrating them into the financial system and then retrieving `clean' money." Regularly switching policies and accepting penalties (D):"Frequent changes in insurance policies or products, even at a financial loss, are considered suspicious. This may indicate an attempt to obscure the money trail or integrate illicit proceeds."

NEW QUESTION # 83
The owner of a real estate investment company deposits multiple cashier's checks that were bought using cash over a three-month period, from the sale of two apartments. This account also receives several electronic transfers from other financial institutions for US$10,000 each. What activity is considered suspicious of money laundering?

A. Using cash to buy multiple cashier's checks over a period of time
B. Using cashier's checks in the transactions with the real estate investment company's account
C. Receiving electronic transfers for US$10,000 amounts from other financial institutions
D. Performing operations with real estate investment companies

Answer: A

NEW QUESTION # 84
A bank is using a network analysis tool to identify links between its customers and criminal entities.
The system identifies potential indirect relationships but is unable to prioritize them. What should the compliance officer do to enhance the tool's effectiveness?

A. Focus on direct connections between customers and criminal entities
B. Implement risk-scoring algorithms for indirect connections
C. Manually review all flagged relationships for accuracy
D. Integrate external databases and social media profiles to cross-check flagged entities

Answer: B

Explanation:
Anti-Money Laundering (AML) regulations and guidance from bodies such as the Financial Action Task Force (FATF) emphasize the importance of a risk-based approach when identifying and managing money laundering and terrorist financing risks. Network analysis tools are commonly used by financial institutions to detect direct and indirect relationships between customers and known criminal entities. However, without prioritization, these tools may generate large volumes of alerts that reduce operational effectiveness.
Implementing risk-scoring algorithms for indirect connections allows the institution to rank identified relationships based on factors such as proximity to criminal entities, transaction volume, frequency, customer risk rating, and typology relevance. This enhances the tool's effectiveness by enabling compliance teams to focus on the highest-risk relationships first, in line with regulatory expectations for efficient and proportionate controls.
Manually reviewing all flagged relationships is impractical and inconsistent with scalable AML programs.
Integrating external databases or social media profiles may raise data quality, privacy, and governance concerns and is not a primary solution for prioritization. Focusing only on direct connections would weaken the AML framework, as criminals frequently use layered and indirect relationships to conceal illicit activity.
Therefore, applying risk-based scoring methodologies is the most effective and regulator-aligned way to enhance network analysis tools.

NEW QUESTION # 85
A trust and company services provider that offers a variety of services to businesses is approached by a client interested in establishing a new company. The client requests assistance with the incorporation process, a local business address, annual maintenance services, and the designation of individuals to serve in official capacities for the new company.
Which of the following services involves a higher money laundering risk?

A. Company incorporation services
B. Provision of a local business address
C. Annual maintenance services
D. Appointing individuals to serve in official capacities of the company

Answer: D

Explanation:
Appointing individuals to serve in official capacities poses a higher money laundering risk because it can be used to obscure the true beneficial ownership and control of the company, making it easier to conceal illicit activities or the identity of those directing the business.

NEW QUESTION # 86
......

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