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Certified Anti Money Laundering Specialist Cams

Subject : certifications
  • 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.