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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions:
1. Which of the following is among the sanctions tools the United Nations Security Council could use that minimize negative effects on innocent civilian populations?
A) Targeted sanctions
B) Comprehensive targeted sanctions
C) Comprehensive sanctions
D) Travel bans
2. Which step should financial institutions take when complying with sanctions requirements?
A) Freeze the funds or assets of designated persons and entities once this decision is approved by the board.
B) Adopt automatic screening systems to detect designated persons and entities.
C) Conduct enhanced due diligence for prohibited entities on the sanctions list.
D) Change the risk profile to "high-risk" if an existing customer becomes a sanctioned entity and continue monitoring further transactions.
3. Tax evasion is:
A) The practice of minimizing tax liability by exploiting loopholes or unintended interpretations of tax law
B) A specialized accounting discipline focused on lawful tax planning
C) A provision that reduces taxable income as an itemized or standard deduction
D) The non-payment or under-payment of taxes, usually by deliberately making a false declaration or no declaration to tax authorities
4. How canawareness be raisedwithincountries that do not have sanctions regulatory regimes?
(Select Two.)
A) Restrict trade between countries that have robust AML/CFT and sanctions regulatory regimes and those that do not.
B) Enforcement and pecuniary fines against these countries.
C) AFC (Anti-Financial Crime) and sanctions-related seminars, webinars, and training within these countries.
D) Bilateral conversations and cooperation between governments.
5. Which of the following approaches should be used in combination to ensure customer data protection and AML compliance? (Select Three.)
A) Saving customer data beyond regulatory requirements
B) Data minimization
C) Data encryption
D) Access controls
E) Comprehensive data collection
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: C,D | Question # 5 Answer: B,C,D |
By Kelly
