CAMS Practice Test

CAMS Practice Test practice questions, page 19 of 26, with answer review and explanations.

Question 91

The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geographic area in the United States. The customers are immigrants from Country A and the majority of the funds are remitted to Country A. In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country B. Each cash transaction always totals exactly $8,000. What should alert the agent to possible money laundering activity by the two customers?

  1. They remit funds to the same person
  2. They have been coming in three times a week
  3. It is unusual for customers to remit to Country B
  4. Each of their transactions is just below the cash reporting threshold

Question 92

A bank receives an anonymous tip from an employee about another employee through its confidential hotline. Which activity warrants further review?

  1. A mortgage officer works with home loan applicants to resolve adverse credit issues
  2. An employee in bookkeeping accepts funds transfer requests from customers via telephone
  3. An employee in accounting works with customers to help understand how to reduce service charges
  4. A teller distributes bank brochures to customers who regularly conduct cash transactions below reporting limits

Question 93

A bank located in New York has identified suspicious transactions at a correspondent bank in China. For one of the international customers, the correspondent bank is not following agreed upon protocols. Which factor indicates that the bank should terminate the relationship?

  1. The correspondent bank has opened branches in a country on the Office of Foreign Assets Control list.
  2. The compliance officer at the correspondent bank is currently being investigated due to bribery allegations.
  3. The correspondent bank has recently exceeded acceptable limits in the primary banks' recently developed risk model.
  4. The primary institution has requested transactional details from the correspondent bank to aide in their investigation.

Question 94

Which two channels can be utilized during a cross-border money laundering investigation to assist in gathering information according to Financial Action Task Force? (Choose two.)

  1. Contacting existing liaison officers in the foreign jurisdiction
  2. Exchanging information between national law enforcement agencies
  3. Contacting the potential suspect or their family members to request information
  4. Submitting only formal requests for information to a financial intelligence unit

Question 95

During a law enforcement investigative interview regarding potential money laundering, the suspect starts making assertions and statements that the investigator believes are false. How should the investigator respond?

  1. Inform the suspect that deception is obvious and continue the interview
  2. Advise the suspect that the interview will be terminated if there is suspicion of deception
  3. Direct the interview in another direction until there is better rapport before returning back to the troubling questions
  4. Ask questions of a material nature about the suspected false statements without revealing the suspected deception