ACAMS CAMS Practice Test - Questions Answers, Page 58

Which risk factors are considered when assessing risk rating of customers? (Select Three.)

A company contracts a life insurance policy with a savings feature of 100,000 USD for an individual in a high-risk country. The policy receives monthly cash deposits from unknown third parties. A minimal part of the deposit is invested and the rest is withdrawn by the end of the month. Which are the circumstances to consider as a risk for money laundering? (Select Two.)

The regulators of a US financial institution find that the institution has failed to establish and maintain a reasonably designed AML program. Which regulatory actions should be taken? (Select Two.)

What are the rules imposed by the Office of Foreign Assets Control (OFAC) for legal entities and persons related to the US? (Select Two.)

Which statements describe risks that are associated with international business corporations? (Select Two.)

Which are essential elements of a KYC program identified by the Basel Committee on Banking Supervision? (Select Two.)

A customer of a bank is an established art dealer. Within the KYC due diligence processes, which constitutes a triggering event that requires ongoing due diligence on this client?

When deficiencies are identified in the Financial Action Task Force (FATF) mutual evaluation report, the assessed country needs to:

Which step should financial institutions take when complying with sanctions requirements?