Test your basic knowledge |

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 must a financial institution do if they have 'Exempt Accounts'?






2. Characteristics of an 'Open System Stored Value Card'






3. FATF Recommendation 33






4. FATF Recommendation 29






5. Reverse Flip

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


6. In what country is the Egmont Group Secretariat now located?






7. FATF Recommendation 40






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


9. What is the Wolfsberg group?






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






11. (Credit card) Acquiring Bank






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






13. Retail Banking






14. Wholesale Banking






15. Dormant Account






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






17. What was the effect of the 1988 Vienna Convention as it relates to extradtition?






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






19. 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...






20. Example of use of an Apostille






21. Margin






22. USA Patriot Act Section 312 'Offshore Bank'






23. FATF Sepcial Recommendation on Terrorist Financing -- SR Six






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






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






27. FATF Recommendation 12






28. 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?






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






30. Identification data






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






32. FATF Recommendation 24






33. FATF's designated transactional threshold for Casinos (including Internet Casinos) is _____.






34. How are 'Predicate Crimes' sometimes identified?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






36. What is the aim of Joint Money Laundering Steering Group? (UK)






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






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






39. The USA Patriot Act enacted a number of statutory provisions that bear directly on the procedures US financial institutions must follow in connection with their...






40. When is a jurisdiction considered to be 'ring-fenced'?






41. Bust-out






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






43. FATF Recommendation 32






44. How do most governments view Private Banking?






45. Examples of White-collar crime






46. FATF Recommendation 7

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


47. FATF Recommendation 2






48. What is the goal of the Egmont group?

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


49. FATF Recommendation 15






50. What normal business practise makes 'Product Division' possible?