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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. Why is 'refining' critical to a money launderer's efforts?






2. How do most governments view Private Banking?






3. What is meant by 'Know Your Correspondent Bank'?






4. Respondent Bank






5. How does 'Product Diversion' work?






6. Dematerialization of Securities






7. FATF Recommendation 13






8. What criterion does the US need to enforce its 'Extraterritorial Reach'?






9. Retail Banking






10. Counter Party






11. What is the Wolfsberg group?






12. Automated Sale






13. Behaviour detection






14. Money Mules






15. (Credit Card) Third-Party processor






16. How does the Egmont group help its members?






17. Convertible Preferred






18. Pink Sheets






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






20. GIABA






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






22. MENAFATF






23. 'Competent Authorities' refers to _____.






24. 'Commission Rogatoire' known in English as?






25. Cash Letter






26. FATF Recommendation 34






27. Penny Stocks






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






29. SRO (Self-Regulatory Organizations)






30. According to FATF - financial transactions above a designated threshold may include situations where the transaction takes place in a single operation or in several operations...






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






32. FATF Recommendation 22






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






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






35. FATF Recommendation 27






36. The Palemo Convention






37. What does Financial Sector AssessmentProgram (FSAP) do?






38. FATF Recommendation 8






39. Futures Commission Merchant (FCM)






40. What does FIU do beyond what FIU does?






41. FATF Recommendation 10






42. Short Sale






43. What does FIU do?






44. Investigative Log






45. What do boiler room salespeople typically do?






46. FATF Recommendation 28






47. May a shell bank maintain a correspondent account with a US bank?






48. FATF Recommendation 14






49. A 'panzi' scheme is named for whom?






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