Test your basic knowledge |

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. FATF Sepcial Recommendation on Terrorist Financing -- SR Nine






2. Mutual Fund






3. How do most governments view Private Banking?






4. Commodity Trading Advisor






5. What is the FCPA primarily known for?






6. Retail Banking






7. FATF Recommendation 9






8. What is a Private Investment company (PIC)?






9. FATF Recommendation 7

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10. FATF Recommendation 35






11. FATF Sepcial Recommendation on Terrorist Financing -- SR Five

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






13. SRO (Self-Regulatory Organizations)






14. How are 'Predicate Crimes' sometimes identified?

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15. What is the goal of FSAP?






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






17. Free Look Period






18. What do boiler room salespeople typically do?

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19. What does FIU do beyond what FIU does?

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






21. As considered by UN and OECD - these are jurisdictions that have no or low tax rates - and do not attract real business or foreign investment






22. Options/Options Contract






23. Basel committee's 'Customer Due Diligence for Banks' when verifying a unit's compliance with KYC policies and procedures - the home country supervisors or auditors should do what?






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






25. Cash Equivalent

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26. Who issues the Internationa Narcotics Control Strategy Report (INCSR) and how often?






27. FATF Recommendation 30






28. FATF Recommendation 38






29. 'Coucil of Europe Convention on Laundering - Search - Seizure and Confiscation of the Proceeds from Crime' is known for what?






30. What is a Financial Intelligence Unit?






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






32. (Credit Card) Issuing Bank






33. How does the Egmont group help its members?






34. Why is 'Know Your Correspondent Bank' important?






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






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

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37. Why is 'Know Your Customer's Customer' important?






38. OTC markets Over-The-Counter






39. EAG






40. Affidavit






41. What was the target of UN Security Council Resolution 1373?






42. FATF Recommendation 31






43. FATF Recommendation 36






44. Reverse Flip

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45. FATF Recommendations examples of non-financial businesses and professions






46. Who are the parties involved in a trust?






47. Pink Sheets






48. What does the 'SEC' (US Securities and Exchange Commission) do?






49. Apostille

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50. FATF Recommendation 28