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ACAMS Advanced-CAMS-Audit Practice Test - Questions Answers, Page 8

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List of questions

Question 71

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Which action would an auditor take to evaluate design effectiveness?

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Question 72

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A retail banking small and medium-sized enterprise (SME) customer launches a charity and requests a Corporate-SME account to receive donations and make disbursements. Which scenarios would most likely identify activity related to a charity account? (Select Two.)

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Question 73

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Which scenarios should be used to monitor for potential elder abuse? (Select Two.)

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Question 74

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Which are objectives of the issue confirmation step in the audit issue management process? (Select Two.)

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Question 75

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Which key risk indicator should the internal auditor consider when reviewing correspondent banking activities?

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Question 76

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The auditor identifies that the bank has launched trade finance services this year. When rating the various themes of the risk mitigants, which are expected to be impacted by the launch of these services? (Select Three.)

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Question 77

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Following completion of testing and tuning of the parameters and thresholds of the transaction monitoring model which final step should the team recommend as necessary to verify effective model functioning?

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Question 78

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What model test verifies that alerts indicative of potentially suspicious activity are not missed due to threshold settings?

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Question 79

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Which recommendation should the audit team provide to address transaction monitoring (TM) issues?

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Question 80

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Considering recent changes in the bank's correspondent banking business. Which is the most important risk indicator for the internal auditor to review?

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