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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. What is the primary use of a 'Mutual Legal Assistance Treaty'?






2. MENAFATF






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






4. OTC markets Over-The-Counter






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


6. Variable Annuity






7. Commodity






8. FATF Recommendation 11






9. 'Introducing Broker-Dealers in Commodities' (IB-C)


10. FATF Recommendation 28






11. How do 'Hedge Funds' operate?


12. Fraud






13. What does FIU do?






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






15. FATF Recommendation 23






16. FATF Recommendation 4






17. FATF Recommendation 8






18. Investigative Log






19. How is 'Legal Risk' defined by the 2001 Basel Due Diligence Principles?






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


21. 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.


22. Examples of VSP's






23. What does the 'SEC' (US Securities and Exchange Commission) do?






24. Three stages of money laundering






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






26. FATF Recommendation 36






27. FATF Sepcial Recommendation on Terrorist Financing -- SR Two






28. GAFISUD






29. Agent (Insurance Industry)






30. 'Open-end Mutual Fund' (or Company)


31. Pink Sheets






32. Abusive Squeezes


33. A pyramid scheme is also called...






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






35. FATF Recommendation 40






36. Short Sale


37. Transparency International






38. Distribution Channels (Insurance Industry)






39. How does the Egmont group help its members?






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


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






42. FATF Recommendation 5






43. FATF Recommendation 35






44. (Stock) Warrants






45. Moneyval






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






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






48. White-Collar crime


49. What is private investment company also known as?






50. FATF Recommendation 37