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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. 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?