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. What must a financial institution do if they have 'Exempt Accounts'?






2. What is one of the Financial Service Authority's (UK) tasks?






3. FATF Recommendation 22






4. What does a 'Commission Rogatoire' normally specify?






5. What do boiler room salespeople typically sell?






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






7. What criterion does the US need to enforce its 'Extraterritorial Reach'?






8. What tend to be the markings of Private Banking transactions?






9. Examples of White-collar crime






10. Reverse Flip






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






12. 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...






13. 'Commission Rogatoire' known in English as?






14. Why do companies export their goods at prices far below those in their home country?






15. USA Patriot Act Section 312 'Offshore Bank'






16. How is 'Identity theft' often accomplished?






17. What is the significance of 'Non-Financial Trades and Businesses' in realtion to Money Laundering?






18. FATF Recommendation 13






19. In general terms - EDD requires what of a financial institution?






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






21. FATF's designated transactional threshold for Casinos (including Internet Casinos) is _____.






22. (Stock) Warrants






23. Why does a launderer try to run transactions through a concentration account of a financial institution?






24. Mutual Fund






25. Bust-out






26. Retail Banking






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






28. FATF Recommendation 38






29. Three stages of money laundering






30. OCC Office of the Comptroller of the Currency






31. The Palemo Convention






32. FATF Recommendation 21






33. Underwriting






34. Cash Equivalent






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






36. FATF Recommendation 19






37. Transparency International






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






39. FATF Recommendation 27






40. Commodity Pool






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






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






43. (Credit card) Acquiring Bank






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






45. Credit Card Associations






46. Downstream Correspondent Clearer






47. FATF Recommendation 16






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






49. Agent (Insurance Industry)






50. 'Loan Back' method. Give example of how it works.