Free ACAMS CAMS Exam Questions & Answer from Training Expert Pass4sures
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Certification Path
The CAMS Certified Anti-Money Laundering Specialist certification path includes only one CAMS certification exam.
NEW QUESTION 257
An anti-money laundering specialist at a large institution is responsible for information senior management about the status of the anti-money laundering program across the organization.
Which report is the most useful?
- A. Results of related audits and examinations
- B. Details on inquires received from law enforcement
- C. The total credit exposure for non-cooperative countries and territories
- D. Notification of management changes in the different major divisions
Answer: A
NEW QUESTION 258
Which three procedures should a compliance officer looking to revise an institution's CTF efforts include in accordance with the Wolfsburg Group's Statement on the Suppression of the Financing of Terrorism?
- A. Reviewing only original identification documents when verifying customers
- B. Consulting applicable lists and taking appropriate actions to determine if customers appear on such lists
- C. Reporting matches from lists of known or suspected terrorists to relevant authorities
- D. Maintaining customer information to facilitate timely retrieval of such information
Answer: B,C,D
NEW QUESTION 259
You are designing an AI solution that will analyze millions of pictures by using Azure HDInsight Hadoop cluster.
You need to recommend a solution for storing the pictures. The solution must minimize costs.
Which storage solution should you recommend?
- A. Azure Blob storage
- B. Azure Table storage
- C. Azure File Storage
- D. an Azure Data Lake Storage Gen1
Answer: A
Explanation:
Data Lake will be a bit more expensive although they are in close range of each other. Blob storage has more options for pricing depending upon things like how frequently you need to access your data (cold vs hot storage).
References:
http://blog.pragmaticworks.com/azure-data-lake-vs-azure-blob-storage-in-data-warehousing
NEW QUESTION 260
Your company is building custom models that integrate into microservices architecture on Azure Kubernetes Services (AKS).
The model is built by using Python and published to AKS.
You need to update the model and enable Azure Application Insights for the model.
What should you use?
- A. the Azure Machine Learning SDK
- B. the Azure portal
- C. MLNET Model Builder
- D. the Azure CLI
Answer: A
Explanation:
You can set up Azure Application Insights for Azure Machine Learning. Application Insights gives you the opportunity to monitor:
* Request rates, response times, and failure rates.
* Dependency rates, response times, and failure rates.
* Exceptions.
Requirements include an Azure Machine Learning workspace, a local directory that contains your scripts, and the Azure Machine Learning SDK for Python installed.
References:
https://docs.microsoft.com/bs-latn-ba/azure/machine-learning/service/how-to-enable-app-insights Analyze solution requirements Testlet 2 Overview Contoso, Ltd. has an office in New York to serve its North American customers and an office in Paris to serve its European customers.
Existing Environment
Infrastructure
Each office has a small data center that hosts Active Directory services and a few off-the-shelf software solutions used by internal users.
The network contains a single Active Directory forest that contains a single domain named contoso.com. Azure Active Directory (Azure AD) Connect is used to extend identity management to Azure.
The company has an Azure subscription. Each office has an Azure ExpressRoute connection to the subscription. The New York office connects to a virtual network hosted in the US East 2 Azure region. The Paris office connects to a virtual network hosted in the West Europe Azure region.
The New York office has an Azure Stack Development Kit (ASDK) deployment that is used for development and testing.
Current Business Model
Contoso has a web app named Bookings hosted in an App Service Environment (ASE). The ASE is in the virtual network in the East US 2 region. Contoso employees and customers use Bookings to reserve hotel rooms.
Data Environment
Bookings connects to a Microsoft SQL Server database named hotelDB in the New York office.
The database has a view named vwAvailability that consolidates columns from the tables named Hotels, Rooms, and RoomAvailability. The database contains data that was collected during the last 20 years.
Problem Statements
Contoso identifies the following issues with its current business model:
* European users report that access to Booking is slow, and they lose customers who must wait on the phone while they search for available rooms.
* Users report that Bookings was unavailable during an outage in the New York data center for more than 24 hours.
Requirements
Contoso identifies the following issues with its current business model:
* European users report that access to Bookings is slow, and they lose customers who must wait on the phone while they search for available rooms.
* Users report that Bookings was unavailable during on outage in the New York data center for more than 24 hours.
Business Goals
Contoso wants to provide a new version of the Bookings app that will provide a highly available, reliable service for booking travel packages by interacting with a chatbot named Butler.
Contoso plans to move all production workloads to the cloud.
Technical requirements
Contoso identifies the following technical requirements:
* Data scientists must test Butler by using ASDK.
* Whenever possible, solutions must minimize costs.
* Butler must greet users by name when they first connect.
* Butler must be able to handle up to 10,000 messages a day.
* Butler must recognize the users' intent based on basic utterances.
* All configurations to the Azure Bot Service must be logged centrally.
* Whenever possible, solutions must use the principle of least privilege.
* Internal users must be able to access Butler by using Microsoft Skype for Business.
* The new Bookings app must provide a user interface where users can interact with Butler.
* Users in an Azure AD group named KeyManagers must be able to manage keys for all Azure Cognitive Services.
* Butler must provide users with the ability to reserve a room, cancel a reservation, and view existing reservations.
* The new Bookings app must be available to users in North America and Europe if a single data center or Azure region fails.
* For continuous improvement, you must be able to test Butler by sending sample utterances and comparing the chatbot's responses to the actual intent.
NEW QUESTION 261
A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at E30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want to purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.
Which red flag should stop the agent from discussing this potential purchase further?
- A. The clients have the funds necessary to fund a E30 million purchase
- B. The clients want to purchase to be made in the names of the private companies
- C. The clients are foreign
- D. The clients are not willing to have their names provided to the bank
Answer: D
Explanation:
Explanation/Reference:
NEW QUESTION 262
What is the most effective criterion for determining the beneficial ownership of funds?
- A. Being a person who is the trusted party in a correspondent banking relationship
- B. Having control over such funds or entitlement to such funds
- C. Having signature authority over the account
- D. Being the person in whose name an account is opened with a financial institution
Answer: D
NEW QUESTION 263
Which two services should be implemented so that Butler can find available rooms on the technical requirements? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.
- A. QnA Maker
- B. Azure Search
- C. Content Moderator
- D. Bing Entity Search
- E. Language Understanding (LUIS)
Answer: A,E
Explanation:
Explanation/Reference:
References:
https://azure.microsoft.com/en-in/services/cognitive-services/language-understanding-intelligent-service/
NEW QUESTION 264
What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)
- A. Utilize downstream correspondents to investigate and report suspicious activity
- B. Investigate and report suspicious activity only for the correspondent bank's clients
- C. Incorporate suspicious activity monitoring into periodic reviews
- D. Incorporate due diligence results such as customer risk ratings
Answer: A,D
NEW QUESTION 265
A large United States (U.S.) bank is performing due diligence on a non-U.S. bank. The non-U.S. bank has applied for a correspondent account at the U.S. bank.
Which two steps should the U.S. bank take under the USA PATRIOT Act? (Choose two.)
- A. Determine whether enhanced due diligence is necessary
- B. Verify the identity of politically exposed persons in management positions at the non-U.S. bank
- C. Assess the money laundering risk presented by the correspondent account
- D. Verify the identity of the customers of the foreign bank
Answer: B,C
NEW QUESTION 266
Which method most likely indicates the placement stage of laundering dirty money in a land based casino?
- A. Redeeming smaller denomination casino chips for largest denomination chips
- B. Buying casino chips against a bank draft
- C. Transferring substantial amounts of money from a client's credit card to a client's casino's VIP account
- D. Using cash to buy casino winnings from legitimate winners at a premium
Answer: D
NEW QUESTION 267
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 compliance staff
- B. Money laundering risk assessment
- C. Anti-money laundering policy
- D. Anti-money laundering policy
Answer: B
NEW QUESTION 268
What is the appropriate compliance control for identifying politically exposed persons (PEPs) according to the Basel Committee's paper on Customer Due Diligence for Banks?
- A. Reviewing relationships at account opening and on a periodic basis
- B. Determining that a local figure is a PEP
- C. Reviewing when a relationship is established
- D. Requiring that the customer discloses that they are a PEP or an associate of a PEP
Answer: A
NEW QUESTION 269
An anti-money laundering analyst is reviewing a new customer list to confirm potentially high risk customers have been identified and subject to enhanced due diligence.
Which new customer warrants enhanced due diligence?
- A. A non-profit hospital
- B. An employee benefit plan trust
- C. A medical practice limited partnership
- D. A fundraising organization
Answer: D
NEW QUESTION 270
What are two sources for maintaining up-to-date sanctions information? (Choose two.)
- A. U.S. Department of the Treasury - Section 311 - Special Measures
- B. U.S. Federal Bureau of Investigation's National Security Letters
- C. U.S. Department of the Treasury Office of Foreign Assets Control
- D. Financial Action Task Force's list of High Risk and Non-Cooperative Jurisdictions
Answer: C,D
Explanation:
Explanation/Reference: https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/faq_lists.aspx#search
NEW QUESTION 271
Which three areas do FATF's 40 recommendations cover? Choose 3 answers
- A. The criminal justice system
- B. International Cooperation
- C. Prescriptive sentences for predicate offenses
- D. Financial systems and their regulation
Answer: B,C,D
NEW QUESTION 272
A compliance officer at a small local bank reads in the newspaper that a high ranking local public official, who is a long-standing account holder, is being investigated by the competent authorities for accepting bribes. The compliance officer immediately checks the official's account and new account the official opened at the bank a few weeks ago. The compliance officer's investigation of these accounts discloses that the official's long- standing account had no unusual activity and that the recently opened had no activity since it was opened.
What should the compliance officer do next?
- A. Call the competent authorities to assess the need to file a suspicious transaction report
- B. Wait until the new account receives funds and confirms their source
- C. Meet with staff who opened the account to understand its nature and purpose
- D. Call the office to confirm the need for multiple accounts
Answer: C
NEW QUESTION 273
An anti-money laundering specialist at a financial institution has received a legal request to provide all transaction records for a specific individual since 2004. Which of the following item s should be delivered?
1. Monthly statements and transaction activities for that individual since 2004.
2. All wire transfers for that individual since 2004.
3. Signature cards from accounts opened by that individual since 2004.
4. All security trading activities for that individual since 2004.
- A. 1, 2, and 4 only
- B. 2, 3, and 4 only
- C. 1, 3, and 4 only
- D. 1, 2, and 3 only
Answer: A
NEW QUESTION 274
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?
- A. Each of their transactions is just below the cash reporting threshold
- B. They have been coming in three times a week
- C. It is unusual for customers to remit to Country B
- D. They remit funds to the same person
Answer: D
NEW QUESTION 275
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