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New CAMS Exam Discount - Certified Anti-Money Laundering Specialists Realistic Valid Test Labs Pass Guaranteed Quiz

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How to Get Certified

To obtain the ACAMS CAMS certificate individuals must take and successfully pass the affiliated namesake CAMS exam, which requires individuals to go through a three-step process. This has been outlined below:

Be a member of ACAMS
Individuals may gain membership of ACAMS as individuals, as part of an enterprise, as public sector workers, or as part of a chapter. Members are required to make a standard membership payment.
Submit an application
After gaining membership at ACAMS, individuals are required to submit an application form along with payment. To be eligible to send an application, individuals must meet the following requirements: hold an active ACAMS membership, have 40 ACAMS credits, possess an education (10 credits for associates, 20 credits for bachelors, 30 credits for masters, and 40 credits for JD, or PhD), possess work experience (10 credits for each year of work experience), and have training (1 credit for an hour of training in the field of financial crime).
Take the actual CAMS Exam
After an individual is found to be eligible and their application has been approved, they may go on to schedule their CAMS evaluation.

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ACAMS CAMS Certification Exam is a computer-based exam consisting of 120 multiple-choice questions that must be completed within three and a half hours. CAMS exam covers four main areas: AML/CFT compliance programs, money laundering risks and methods, compliance standards for correspondent banking and money services businesses, and conducting AML/CFT investigations.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q149-Q154):

NEW QUESTION # 149
An anti-money laundering specialist is employed by a large multi-national bank. The bank is planning to open an international department that will be responsible for expanding services to various countries. The head of the new international department has asked the specialist to assess risks associated with the bank's expansion plans. Which of the following materials should be included as a reference?
1. USA PATRIOT Act
2. Financial Action Task Force 40 Recommendations
3. Customer Due Diligence for Banks issued by the Basel Committee on Banking Supervision
4. The Egmont Group Statement of Purpose

A. 2, 3, and 4 only
B. 1, 2, and 4 only
C. 1, 2, and 3 only
D. 1, 3, and 4 only

Answer: A

Explanation:
The Financial Action Task Force (FATF) 40 Recommendations are the international standards for combating money laundering and terrorist financing, and they apply to all countries and financial institutions. The Customer Due Diligence for Banks issued by the Basel Committee on Banking Supervision provides guidance on how banks should conduct CDD and KYC procedures, and how they should manage the risks of correspondent banking and wire transfers. The Egmont Group Statement of Purpose outlines the objectives and functions of the Egmont Group, which is an international network of financial intelligence units (FIUs) that exchange information and cooperate in the fight against money laundering and terrorist financing. These three materials are relevant and useful for the bank's expansion plans, as they cover the main aspects of AML/CFT compliance in different jurisdictions and sectors.
The USA PATRIOT Act is a US-specific legislation that enhances the powers and obligations of US authorities and financial institutions in relation to AML/CFT, but it may not be applicable or appropriate for other countries where the bank intends to operate. Therefore, it is not a necessary reference material for the bank's international department.
Reference:
FATF 40 Recommendations
Customer Due Diligence for Banks
Egmont Group Statement of Purpose

NEW QUESTION # 150
The ultimate goal of economic sanctions is to:

A. prevent terrorists from profiting from trade.
B. protect national security.
C. reduce the profits of sanctioned countries.
D. protect the reputation of the country.

Answer: B

Explanation:
Economic sanctions are penalties imposed by one or more countries against another country, group, or individual for violatinginternational norms or threatening national interests1. The ultimate goal of economic sanctions is to protect national security by changing the behavior or policies of the target, or by weakening its capabilities or resources2. Sanctions can be used to advance various foreignpolicy objectives, such as counterterrorism, nonproliferation, democracy promotion, human rights protection, conflict resolution, and cybersecurity1. Sanctions can take different forms, such as travel bans, asset freezes, trade embargoes, arms restrictions, and aid reductions1. Sanctions can be applied unilaterally by one country, or multilaterally by a coalition of countries or an international organization, such as the United Nations or the European Union1.
1: What Are Economic Sanctions? | Council on Foreign Relatio
2: How Economic Sanctions Work - Investopedia
Reference: https://www.investopedia.com/articles/economics/10/economic-sanctions.asp

NEW QUESTION # 151
Which is a key role of FATF-Style Regional Bodies (FSRBs)?

A. Setting regional standards for combatting money laundering
B. Bring additional terrorist financing laws into action in the region
C. Enforce the specific FATF laws in the region
D. Support the system of mutual evaluation

Answer: D

Explanation:
one of the key roles of FATF-Style Regional Bodies (FSRBs) is to support the system of mutual evaluation, which is a peer review process that assesses the level of compliance and effectiveness of each member country's anti-money laundering and counter-terrorism financing (AML/CFT) regime12. FSRBs conduct mutual evaluations in accordance with the FATF's methodology and standards, and share the results and recommendations with the FATF and other FSRBs3. Mutual evaluations help identify the strengths and weaknesses of each country's AML/CFT system, and provide a basis for technical assistance and follow-up actions4.
Reference:
What are the 9 FATF-Style Regional Bodies (FSRBs)? - Sygna1
FATF-Style Regional Bodies (FSRBs) - Asia/Pacific Group on Money Laundering2 The Role of FATF Style Regional Bodies (FSRBs) in Combating ... - IDMerit3
9 FATF-Style Regional Bodies (FSRBs) - fineksus.com4

NEW QUESTION # 152
Which statement is true according to the FATF?

A. Countries should not decide how they will define predicate or underlying offenses, or the nature of any particular elements of those offenses that make them serious offenses, but should base the offenses on FATF definitions
B. When deciding on the range of offenses to be covered as underlying offenses for money laundering, each country may decide how serious offenses
C. When deciding on the range of offenses to be covered as predicate offenses for money laundering, each country should define the nature and any particular elements of those offenses
D. Predicate or underlying serious offenses are determined by the designated non-financial businesses or professionals that are covered by the FATF 40 Recommendations

Answer: A

NEW QUESTION # 153
The marketing department presents to an anti-money laundering specialist a business plan targeting individuals holding important public positions. In addition to obtaining the proper identification and basic information from these customers, what else should the anti-money laundering specialist recommend a financial institution do to check the background and conduct enhanced due diligence based on public information?
1. Determine if a client appears on the Basel Committee on Banking Supervision's list of public officials.
2. Investigate the source of funds.
3. Identify people and companies that are clearly related.
4. Identify a person fully, including their political history.

A. 2, 3, and 4 only
B. 1, 2, and 4 only
C. 1, 2, and 3 only
D. 1, 3, and 4 only

Answer: A

Explanation:
Explanation
TO BE RECHECKED

NEW QUESTION # 154
......

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