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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 'Know Your Customer's Customer' important?






2. 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.


3. US law prohibhits Foriegn Shell Banks from ____?






4. Underwriting






5. Reverse Flip


6. FATF Recommendation 37






7. The Palemo Convention






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


9. What is the goal of FSAP?






10. FATF Recommendation 5






11. What is the goal of the Egmont group?


12. Futures Commission Merchant (FCM)






13. FATF Recommendation 23






14. Fraud






15. (Credit card) Acquiring Bank






16. A 'Cash Letter' can also be referred to as _____.






17. Commodity Pool Operator






18. SRO (Self-Regulatory Organizations)






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






20. FATF Recommendation 25






21. OCC Office of the Comptroller of the Currency






22. Short Sale


23. Investment Adviser






24. FATF Recommendation 27






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






26. FATF Recommendation 8






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






28. In Emerging Money Laundering Risks - what 3 methods are identified as 'Funds Transfers'?






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






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






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






32. Commodity






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






34. FATF Recommendation 22


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






36. What does the principal US money laundering law look for before implementing its 'Extraterritorial Reach'?






37. UK courts view on 'Suspicion'






38. Apostille


39. How do most governments view Private Banking?






40. Agent (Insurance Industry)






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






42. Where is the Art Loss Register found?






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






44. FATF Recommendation 39






45. FATF Recommendation 10






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






47. FATF Recommendation 4






48. EAG






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


50. FATF Recommendation 29