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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. Reverse Flip


2. US law prohibhits Foriegn Shell Banks from ____?






3. Penny Stocks






4. Commodity






5. USA Patriot Act Section 312 'Offshore Bank'






6. What does FIU do?






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






8. Three stages of money laundering






9. What is a 'Trust'?






10. The 'Art Loss Register'


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






12. Corporate Bank


13. Free Look Period






14. FATF Recommendation 31






15. Futures Commission Merchant (FCM)






16. FATF Recommendation 39






17. What is the goal of the Egmont group?


18. Operational risks in KYC context relate to...






19. Variable Annuity






20. What does theInternationa Narcotics Control Strategy Report (INCSR) entail?






21. FATF Recommendation 26






22. 'Competent Authorities' refers to _____.






23. 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






24. Cash Log


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






26. FATF Recommendation 34






27. What is one of the cental stragetic tools required for effective action against money laundering?






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






29. (Credit Card) Issuing Bank






30. Counter Party






31. The Joint Money Laundering Steering Group (UK) has published a series of AML Guidance Notes for different sectors of the financial community. But - As a group of trade associations - it has...






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


33. Apostille


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






35. What are the two types of Stored Value Cards?






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


37. Guaranteed Introducing Broker


38. OTC markets Over-The-Counter






39. Dematerialization of Securities


40. FATF Recommendation 32






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






42. Money Mules






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






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






45. What are some of the AML dangers of casino junkets?






46. (Credit Card) Third-Party processor






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






48. Basel's 'CDD for Banks' states that the decision to open an account for a PEP should be taken at...






49. Who conducts the Financial Sector Assessment Program (FSAP)?






50. FATF Recommendation 40