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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. Open System Stored Value Card






2. FATF Recommendation 40






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






4. FATF Recommendation 23






5. Arrest Warrant






6. Abusive Squeezes






7. The Palemo Convention






8. MENAFATF






9. Commodity Pool Operator






10. 'Coucil of Europe Convention on Laundering - Search - Seizure and Confiscation of the Proceeds from Crime' is known for what?






11. FATF Recommendation 22






12. Identification data






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






14. The Vienns Convention






15. FATF Recommendation 27






16. FATF Recommendation 21






17. FATF Recommendation 11






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






19. FATF Recommendation 20






20. FATF Recommendation 4






21. Corporate Bank






22. Downstream Correspondent Clearer






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






24. Basel committee's 'Customer Due Diligence for Banks' when verifying a unit's compliance with KYC policies and procedures - the home country supervisors or auditors should do what?






25. Credit Card Associations






26. What does FIU do beyond what FIU does?






27. UK courts view on 'Suspicion'






28. Free Look Period






29. Agent (Insurance Industry)






30. What do boiler room salespeople typically do?






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






32. Variable Annuity






33. Account Monitoring Order (UK and several other countries)






34. (Credit card) Acquiring Bank






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






36. What do boiler room salespeople typically sell?






37. FATF Recommendation 2






38. Fraud






39. Underwriting






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






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






42. FATF Recommendation 14






43. Commodity Trading Advisor






44. Retail Banking






45. Wholesale Banking






46. Why does a launderer try to run transactions through a concentration account of a financial institution?






47. Short Sale






48. Investment Adviser






49. How is 'Identity theft' often accomplished?






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