CAMS Exam Dumps Pass with Updated 2021 Certified Exam Questions
CAMS Exam Questions - Real & Updated Questions PDF
What is the duration of the CAMS Exam
Format: Multiple choices, multiple answers Length of Examination: 3 1/2 hours
NEW QUESTION 261
What kind of person should perform the independent testing of an institution's anti-money laundering program?
- A. A former anti-money laundering officer from a similar institution
- B. A person who reports directly to the Board of Directors or a Board Committee
- C. A retired government regulator or federal law enforcement officer
- D. A certified specialist in the anti-money laundering field
Answer: D
NEW QUESTION 262
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 three items should be delivered?
- A. All wire transfer for that individual since 2004
- B. Signature cards from accounts opened by that individual since 2004
- C. All security trading activities for that individual since 2004
- D. Monthly statements and transaction activities for that individual since 2004
Answer: A,C,D
NEW QUESTION 263
Your company has recently purchased and deployed 25,000 IoT devices.
You need to recommend a data analysis solution for the devices that meets the following requirements:
* Each device must use its own credentials for identity.
* Each device must be able to route data to multiple endpoints.
* The solution must require the minimum amount of customized code.
What should you include in the recommendation?
- A. Microsoft Azure Notification Hubs
- B. Microsoft Azure Event Hubs
- C. Microsoft Azure Service Bus
- D. Microsoft Azure IoT Hub
Answer: D
Explanation:
An IoT hub has a default built-in endpoint. You can create custom endpoints to route messages to by linking other services in your subscription to the hub.
Individual devices connect using credentials stored in the IoT hub's identity registry.
References:
https://docs.microsoft.com/en-us/azure/iot-hub/iot-hub-devguide-security
NEW QUESTION 264
In reviewing recent transaction activity, a compliance officer for a money transmitter notices that several customers are each remitting the same amount of money but much more frequently.
How should the institution respond?
- A. Conduct further investigation to determine whether this is truly suspicious activity
- B. File a suspicious transaction report
- C. Instruct the tellers not to process remittances for these customers in the future
- D. Immediately contact the customers and ask them why they are remitting money more often
Answer: A
NEW QUESTION 265
Which two statements about the Wolfsberg Group are true?
- A. It focuses primarily on Know Your Customer, AML and CTF guidance
- B. It has no power to impose itsprinciples/guidance
- C. It based its original guidancearoundcombating the laundering ofproceedsof narcoticstrafficking
- D. It is composed of representatives of financial intelligence units from around the world
Answer: A,B
NEW QUESTION 266
Which three areas do FATF's 40 recommendations cover? Choose 3 answers
- A. Prescriptive sentences for predicate offenses
- B. International Cooperation
- C. The criminal justice system
- D. Financial systems and their regulation
Answer: B,C,D
NEW QUESTION 267
You are designing an AI solution in Azure that will perform image classification.
You need to identify which processing platform will provide you with the ability to update the logic over time.
The solution must have the lowest latency for inferencing without having to batch.
Which compute target should you identify?
- A. central processing units (CPUs)
- B. field-programmable gate arrays (FPGAs)
- C. graphics processing units (GPUs)
- D. application-specific integrated circuits (ASICs)
Answer: B
Explanation:
FPGAs, such as those available on Azure, provide performance close to ASICs. They are also flexible and reconfigurable over time, to implement new logic.
Incorrect Answers:
D: ASICs are custom circuits, such as Google's TensorFlow Processor Units (TPU), provide the highest efficiency. They can't be reconfigured as your needs change.
References:
https://docs.microsoft.com/en-us/azure/machine-learning/service/concept-accelerate-with-fpgas
NEW QUESTION 268
Which situation is the highest risk for money laundering and terrorist financing activity?
- A. A customer purchases casino chips using credit from an account at an affiliated casino and engages in significant game play before redeeming the chips for a casino check
- B. A customer purchases casino chips using a credit card and engages in minimal game play before redeeming the chips for a casino check
- C. A customer purchases casino chips and engages in significant game play before requesting a casino check for the remainder
- D. A customer purchases casino chips, using small denomination bank notes, but does not engage in game play before redeeming the chips for a casino check
Answer: B
NEW QUESTION 269
A recent anti-money laundering audit revealed several regulatory reporting violations and lapses with the organization's anti-money laundering policy. As a result, the compliance officer has created a follow-up matrix to document progress in correcting the identified deficiencies.
To whom should the compliance officer provide regular updates of corrective action to help ensure the appropriate oversight?
- A. Designated board committee
- B. Business line managers
- C. Human Resources
- D. Audit management
Answer: A
NEW QUESTION 270
Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the world they serve.
What is one of the methods they use to understand these risks?
- A. They conduct global research on money laundering and terrorist financing trends and report their findings in their own typologies report
- B. They require participating financial institutions of their members to file suspicious transaction reports to the regional body
- C. They conduct regional-level research and analysis of the money laundering and terrorist financing methods and trends using standards and templates used for FATF typologies reports
- D. They require member countries to develop statistical metrics over money laundering and terrorist financing crimes
Answer: B
Explanation:
Explanation/Reference: https://www.fatf-gafi.org/media/fatf/documents/recommendations/Private-Sector-Information- Sharing.pdf (18)
NEW QUESTION 271
You plan to implement a new data warehouse for a planned AI solution.
You have the following information regarding the data warehouse:
* The data files will be available in one week.
* Most queries that will be executed against the data warehouse will be ad-hoc queries.
* The schemas of data files that will be loaded to the data warehouse will change often.
* One month after the planned implementation, the data warehouse will contain 15 TB of data.
You need to recommend a database solution to support the planned implementation.
What two solutions should you include in the recommendation? Each correct answer is a complete solution.
NOTE: Each correct selection is worth one point.
- A. An Azure virtual machine that runs Microsoft SQL Server
- B. A Microsoft Azure SQL database
- C. Apache Hadoop
- D. Apache Spark
Answer: B
Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/azure/sql-database/saas-multitenantdb-adhoc-reporting
NEW QUESTION 272
Federal law requires all U.S. financial institutions to secure and maintain all records and supporting documentation used m suspicious activity reporting for how many years?
- A. 2 years
- B. 10 years
- C. 5 years
- D. No requirement
Answer: C
NEW QUESTION 273
A popular restaurant in town has begun depositing less cash than it has in prior years. In a review of the customer's accounts, you notice that credit card receipts have increased with no explanation.
The account officer discovers that the restaurant has installed a privately-owned automated teller machine (ATM) onsite and has begun construction of a patio dining area.
Which red flag should trigger additional investigation?
- A. Lower cash deposits
- B. Increased credit card receipts
- C. Construction of the new patio dining area
- D. Privately-owned ATM
Answer: D
NEW QUESTION 274
What are two reasons physical certificates present a money laundering risk to broker-dealers? (Choose two.)
- A. The trade information on a physical certificate can be easily altered
- B. There is little information readily available to the broker confirming the source of the funds
- C. Physical certificates may be provided to nominees for deposit or settled in off-market transactions
- D. Physical certificates do not expire and may be held by the owner for perpetuity
Answer: B,C
NEW QUESTION 275
What is one of the indicia of a Black Market Peso Exchange?
- A. A large deposit of pesos converted into U.S. dollars
- B. A wire transfer from a third party not connected with a transaction
- C. A transfer of U.S. dollars to Central or South America to be converted into pesos
- D. An illegal entity that exchanges pesos for U.S. dollar for illegal immigrants
Answer: C
NEW QUESTION 276
When creating an anti-money laundering program for a foreign bank with branches in the U.S., which three are included among the four minimum elements required under the USA Bank Secrecy Act? Choose 3 answers
- A. The designation of a compliance officer
- B. The development of a Know You Customer program
- C. An independent audit functions to test the program
- D. An ongoing employee training program
Answer: A,C,D
NEW QUESTION 277
You have Azure IoT Edge devices that collect measurements every 30 seconds.
You plan to send the measurements to an Azure IoT hub.
You need to ensure that every event is processed as quickly as possible.
What should you use?
- A. Apache Kafka
- B. Azure Machine Learning on the IoT Edge devices
- C. Azure Stream Analytics windowing functions
- D. Azure Stream Analytics record functions
Answer: B
Explanation:
Use Azure Notebooks to develop a machine learning module and deploy it to a Linux device running Azure IoT Edge.
You can use IoT Edge modules to deploy code that implements your business logic directly to your IoT Edge devices.
References:
https://docs.microsoft.com/en-us/azure/iot-edge/tutorial-deploy-machine-learning
NEW QUESTION 278
Why can terrorist financing be very difficult to identify?
- A. It is hard to get a name added to the OFAC list of terrorists
- B. Terrorism is not a crime in all countries
- C. The funds needed to conduct a terrorist act can be relatively small
- D. Because of the various methods used to launder funds for terrorist financing
Answer: C
NEW QUESTION 279
After evaluating recent changes to international standards, an anti-money laundering specialist should consider enhanced due diligence on accounts held by which three groups of people?
- A. Lawyers
- B. Retail Account Holders
- C. Precious Metal Dealers
- D. Foreign Exchange Dealers
Answer: A,C,D
NEW QUESTION 280
An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to discuss the legal request with the customer. The account officer intends to discuss points related to the investigation during the meeting.
What should an anti-money laundering specialist recommend?
- A. Discuss all the points being investigated by law enforcement to ensure the correspondent bankis well prepared when approached
- B. Let the account manager's manager know what conversations have taken place with thecustomer and document the account file accordingly
- C. Cancelled the meeting as he has already behaved inappropriately by alerting to theinvestigation
- D. Limit discussions about the investigation with the customer and by satisfied that the accountmanager has provided proper notice to the customer
Answer: D
NEW QUESTION 281
A bank located in Arizona is considering a loan application for a new client. The collateral for the loan is a property in Florida.
The loan will be in the name of a limited company (LLC) whose ownership is not disclosed to the bank. The LLC was established by a New York-based attorney.
The loan will be repaid by the LLC in monthly wire transfers of $9,000 which is more than the required monthly payment.
Which aspect indicates potential for money laundering?
- A. The repayment in the amount of $9,000 indicates potential structuring
- B. The attorney associated with the account is outside the bank's lending area
- C. The LLC's ownership is not disclosed to the bank
- D. The collateral, a property in Florida, is not located in Arizona
Answer: A,C
NEW QUESTION 282
Which three do the Office of Foreign Asset Control regulations cover? Choose 3 answers
- A. All U.S. citizens
- B. All foreign-based entities that have U.S. customers
- C. All persons and entities within the U.S.
- D. All U.S.-domiciled entities and their foreign branches
Answer: A,B,D
NEW QUESTION 283
A bank operates in multiple countries and offers a variety of products and services. The compliance officer recently joined the bank and wants to better understand the inherent level of anti-money laundering risk across the entire organization.
Which two factors should be considered? (Choose two.)
- A. Products and services offered by the bank
- B. Countries that the bank operates in
- C. The Customer Due Diligence program
- D. The Transaction Monitoring program
Answer: C,D
NEW QUESTION 284
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