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ACAMS CAMS Practice Test - Questions Answers, Page 28

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Question 271

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Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

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Question 272

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A financial institution has expanded its scope of services so that it is attracting the business of politically exposed persons (PEPs) who had previously never been part of the customer base.

Which two courses of action should the compliance officer include in the institution's procedures for considering PEPs as customers? (Choose two.)

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Question 273

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A bank receives a wire transfer that references the sale of equipment to a sanctioned company. The bank's operations team removes the sanctioned company reference and allows the wire transfer to process. This is a description of what type of activity?

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Question 274

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A compliance officer for a casino may suspect money laundering if an individual:

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Question 275

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Which response represents a high-level principle for FATF-Style Regional Bodies (FSRB)?

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Question 276

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A benefit of using bearer shares in corporate formations is that bearer shares are:

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Question 277

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OFAC-issued regulations apply to which entities? (Choose two.)

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Question 278

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What is an aspect of the USA PATRIOT Act that has extraterritorial reach?

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Question 279

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Based on the USA PATRIOT Act, what action might the US take to demonstrate extraterritorial reach?

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Question 280

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How should a compliance officer respond to law enforcement agencies' request for information on a customer undergoing an investigation?

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