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Certified Anti Money Laundering Specialist Cams

Subject : certifications
  • Answer 50 questions in 15 minutes.
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  • 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. The USA Patriot Act enacted a number of statutory provisions that bear directly on the procedures US financial institutions must follow in connection with their...

2. Futures Commission Merchant (FCM)

3. 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...

4. What are included in the Wolfsberg AML Principles on Private Banking?

5. Examples of VSP's

6. How does 'Product Diversion' work?

7. In what country is the Egmont Group Secretariat now located?

8. Respondent Bank

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

10. FATF Recommendation 6

11. 'Kiting' via credit card

12. Why is understanding 'Product Diversion' important to the AML investigator?

13. FATF Recommendation 16

14. Commodity

15. Vital Service Providers (VSPs)

16. The Palemo Convention

17. Money Mules

18. EAG

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

20. FATF Recommendation 19

21. What are the three main functions of a 'Transfer Agent'?

22. Derivatives

23. FATF Sepcial Recommendation on Terrorist Financing -- SR Eight

24. FATF Recommendation 2

25. FATF Recommendation 23

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

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

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

29. FATF Recommendation 26

30. What does FIU do?

31. What does Financial Sector AssessmentProgram (FSAP) do?

32. Commodity Trading Advisor

33. Commodity Pool Operator

34. FATF Recommendation 31

35. What is the FCPA primarily known for?

36. FATF Recommendation 7

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

38. How do 'Hedge Funds' operate?

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

40. May a shell bank maintain a correspondent account with a US bank?

41. How are 'Predicate Crimes' sometimes identified?

42. What is the Federal Service for Financial Monitoring?

43. A notary can issue a Apostille but it must be in a country that signed The Hague Convention (1961) and it must ___________. If the notary doesn't understand - find another one.

44. Portfolio Manager

45. Agent (Insurance Industry)

46. Under the US Bank Secrecy Act - SAR filings are confidential and the institutions employees cannot ____?

47. Why is a 'money order' attractive to a money launderer?

48. Transparency International

49. Account Monitoring Order (UK and several other countries)

50. What were recently identified as Emerging Money Laundering risks?