CAMS - INTERNATIONAL AML/CFT STANDARDS EXAM
WITH ALL CORRECT & 100% VERIFIED ANSWERS|
ALREADY GRADED A+
The Wolfsberg Group published its Anti-Money Laundering Principles for Correspondent Banking.
Which three of the following elements are recommended to be included in the due diligence of a
correspondent banking client?
A. The geographic risk
B. The ownership and management structure
C. The resume of the compliance officer
D. The customer base ✔Correct Answer-A, B, D
Trade-based money laundering requires the ability to
A. over- or under invoice the goods
B. sell the imported goods for as little as possible
C. use goods that do not need to be declared
D. avoid the use of high-value assets such as luxury cars or boats ✔Correct Answer-A
Which statement is true?
A. Lawyers in FATF member countries generally cannot be used to serve as formation agents to set up
trusts, front companies or shell companies.
B. Lawyers and similar professional gatekeepers are called money services businesses.
C. Lawyers generally cannot be used to act as nominee shareholders for a beneficial owner.
D. Lawyers can be abused by launderers by using the accounts they set up for them for the
placement and layering of funds. ✔Correct Answer-d
Which three of the following statements are true in respect to the Fourth EU Anti-Money Laundering
Directive?
A. Member countries can decide when and if they incorporate it into their local laws.
B. It repeals and replaces the Third EU Directive on Anti-Money Laundering.
C. Each member country must hold beneficial ownership information in a central registry and it must
be made available to competent authorities.
D. New definition of PEPs include family members and persons known to be close associates
✔Correct Answer-B, C, D
According to the EU Directives, an independent legal professional is obligated to report suspicion of
money laundering in a client relationship when
A. representing a client in a legal matter.
B. ascertaining the legal position for a client.
C. participating in financial or corporate transactions.
D. obtaining information associated with a judicial proceeding. ✔Correct Answer-C
WITH ALL CORRECT & 100% VERIFIED ANSWERS|
ALREADY GRADED A+
The Wolfsberg Group published its Anti-Money Laundering Principles for Correspondent Banking.
Which three of the following elements are recommended to be included in the due diligence of a
correspondent banking client?
A. The geographic risk
B. The ownership and management structure
C. The resume of the compliance officer
D. The customer base ✔Correct Answer-A, B, D
Trade-based money laundering requires the ability to
A. over- or under invoice the goods
B. sell the imported goods for as little as possible
C. use goods that do not need to be declared
D. avoid the use of high-value assets such as luxury cars or boats ✔Correct Answer-A
Which statement is true?
A. Lawyers in FATF member countries generally cannot be used to serve as formation agents to set up
trusts, front companies or shell companies.
B. Lawyers and similar professional gatekeepers are called money services businesses.
C. Lawyers generally cannot be used to act as nominee shareholders for a beneficial owner.
D. Lawyers can be abused by launderers by using the accounts they set up for them for the
placement and layering of funds. ✔Correct Answer-d
Which three of the following statements are true in respect to the Fourth EU Anti-Money Laundering
Directive?
A. Member countries can decide when and if they incorporate it into their local laws.
B. It repeals and replaces the Third EU Directive on Anti-Money Laundering.
C. Each member country must hold beneficial ownership information in a central registry and it must
be made available to competent authorities.
D. New definition of PEPs include family members and persons known to be close associates
✔Correct Answer-B, C, D
According to the EU Directives, an independent legal professional is obligated to report suspicion of
money laundering in a client relationship when
A. representing a client in a legal matter.
B. ascertaining the legal position for a client.
C. participating in financial or corporate transactions.
D. obtaining information associated with a judicial proceeding. ✔Correct Answer-C
