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Certified Anti Money Laundering Specialist Cams

Subject : certifications
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Agent (Insurance Industry)






2. Cash Log

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3. What is the primary use of a 'Mutual Legal Assistance Treaty'?






4. FATF Recommendation 31






5. The Vienns Convention






6. What is meant by 'Know Your Correspondent Bank'?

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7. How are 'Predicate Crimes' sometimes identified?

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8. SRO (Self-Regulatory Organizations)






9. Foriegn Shell Banks are vehicles for ______ & ______?






10. FATF Recommendation 32






11. What can result from on institution's disregard for the Basel Due Diligence Principle?






12. What is the Serious Organised Crime Agency (SOCA)?






13. OCC Office of the Comptroller of the Currency






14. What is the goal of FSAP?






15. FATF Recommendation 24






16. What do 'Hedge Funds' attempt to do?






17. Commodity Pool






18. The IMF estimates that laundered funds compromise ______ of the world's GDP






19. Many jurisdictions have legislation to ensure that suspects are not ____?






20. Why do convertible bonds oftern have lower interest rates than non-convertible bonds?






21. FATF Recommendation 38






22. 'Kiting' via credit card






23. FATF's designated transactional threshold for Financial Insitutions is _____.






24. Open System Stored Value Card






25. How does the Egmont group help its members?






26. FATF Recommendation 33






27. A 'panzi' scheme is named for whom?






28. FATF Recommendation 8






29. A public perception that a bank is not able to manage its operational risk effectively can...






30. Why is it imperative to have a strong Know Your Employee program?






31. Commodity






32. 'Closed-end Mutual Fund' (Or Comany)

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33. What does the principal US money laundering law look for before implementing its 'Extraterritorial Reach'?






34. (Credit card) Acquiring Bank






35. UK courts view on 'Suspicion'






36. FATF Recommendation 7

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37. Cash Letter






38. GIABA






39. What is meant by 'Know Your Customer's customer'?






40. Free Look Period






41. Why is 'refining' critical to a money launderer's efforts?






42. 'Open-end Mutual Fund' (or Company)

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43. Express Trust






44. When was the Offshore Group of Banking Supervisors established? What was the impetus behind its establishment?






45. Transparency International






46. When is a jurisdiction considered to be 'ring-fenced'?






47. According to FATF - financial transactions above a designated threshold may include situations where the transaction takes place in a single operation or in several operations...






48. Investment Adviser






49. FATF Recommendation 14






50. What is private investment company also known as?