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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. Where is the Art Loss Register found?






2. Bust-out






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






4. Abusive Squeezes


5. Guaranteed Introducing Broker


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






7. US law prohibhits Foriegn Shell Banks from ____?






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


9. FATF Recommendation 10






10. The Palemo Convention






11. FATF Sepcial Recommendation on Terrorist Financing -- SR Three






12. Vital Service Providers (VSPs)






13. The IMF estimates that laundered funds compromise ______ of the world's GDP






14. FATF Recommendation 18






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






16. FATF Sepcial Recommendation on Terrorist Financing -- SR Seven






17. How do 'Hedge Funds' operate?


18. FATF Recommendation 15






19. What are the three main functions of a 'Transfer Agent'?






20. FATF Sepcial Recommendation on Terrorist Financing -- SR Five


21. Underwriting






22. Scheme






23. Why do convertible bonds oftern have lower interest rates than non-convertible bonds?






24. Cash Log


25. Why is understanding 'Product Diversion' important to the AML investigator?






26. (Credit card) Acquiring Bank






27. What is the goal of the Egmont group?


28. What is a 'NCCT'?






29. Moneyval






30. Mutual Fund






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






32. White-Collar crime


33. Convertible Bond






34. What the primary objectives of Offshore Group of Banking Supervisors?






35. GAFISUD






36. Should one ever file a Suspicious Transaction Report (STR/SAR) based on a person's profile?


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


38. USA Patriot Act Section 312 'Offshore Bank'






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






40. (Stock) Warrants






41. The 'Art Loss Register'


42. FATF Recommendation 3






43. OCC Office of the Comptroller of the Currency






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






45. Why is 'Know Your Customer's Customer' important?






46. Automated Sale






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






48. Options/Options Contract






49. Express Trust






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