ACAMS CAMS (Certified Anti-Money Laundering Specialist) Exam Prep FREE Sample Exam

An analyst identifies a property bought with funds traced to fraud, with no intermediate transfers found. Which stage is clearly present even if layering is not?

Integration, in the use of fraud proceeds as wealth to acquire the property

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Placement by the property seller

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Layering, because property was involved

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No stage, because layering is absent

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In the money services businesses sector, staff following an unusual-activity alert observe that an agent’s remittances surge with many unrelated senders funding one household. Which response is MOST appropriate?

Treat the pattern as a sector-specific laundering red flag, verify source of funds and the true parties, and escalate if unexplained

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Ignore the pattern because this sector is exempt from monitoring

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Conclude the activity is legitimate solely because the sector also serves legitimate customers

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Advise the customer how to split the activity to avoid attention

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A bank financing a shipment reviews the file and finds invoices and bills of lading for twelve containers, but port and carrier records show the containers never arrived and the vessel never carried them. Which technique is this?

Over-shipment of low-value goods against high-value documents

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Under-invoicing to reduce customs duties payable

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Phantom shipment: complete trade documentation for goods that do not exist or never moved

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Short-shipment fraud against the insurer of the cargo

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A fintech launches a remote onboarding channel. Applying FATF principles, what should it do before launch?

Launch first and consider risks only if abuse is reported

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Assume remote onboarding is low risk because it is digital

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Assess the money laundering risks of the new channel and put proportionate controls in place

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Rely solely on the controls designed for branch onboarding without review

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An institution outsources transaction monitoring to a vendor. A manager claims accountability for monitoring quality transferred to the vendor. What is correct?

Accountability transfers fully to any regulated vendor

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The institution retains accountability for its program and must oversee the vendor's performance, tuning, and output quality

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Vendor use ends the need for internal audit coverage

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The vendor reports directly to the regulator in place of the bank

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What is the central risk of dealing with an entity owned just below the 50 percent threshold by several SDNs who may increase their stakes?

Ownership changes could make the entity blocked, so the firm should monitor the position and exercise caution

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The entity is permanently immune from designation

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There is no risk until ownership reaches 100 percent

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The firm must block it today solely because SDNs hold any shares

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A customer conducts a single cash-out transaction of $10,200 by cashing a check. A staff member argues cashing a check is not a currency transaction. What is correct?

Check cashing is never reportable

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Only deposits count as currency transactions

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The staff member must file a foreign account report instead

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Receiving over $10,000 in cash as cash-out is a currency transaction subject to reporting

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At an online payments firm, account opener Marcus Webb is onboarding Meridian Freight LLC. How many individuals must be identified under the control prong for a legal-entity customer?

One individual with significant responsibility to control or manage the entity

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Two individuals, who must both be equity owners

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One individual for each line of business the entity operates

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No individual, if the ownership prong already identified four people

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Account-opening scenario: an account opened through a partner platform presents with verification performed in the partner’s app. What is the correct CIP handling?

Delay all identification steps until suspicious activity occurs

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Open the account with no records so the customer is not inconvenienced

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Waive identification and verification because the circumstances are unusual

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The institution must be able to evidence that verification met its CIP, even when a partner performs steps.

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At onboarding the bank faces a customer with credible adverse media linking them to financial crime. Which diligence response is most appropriate?

Enhanced due diligence, including deeper evidence and senior approval as policy requires

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Standard diligence with no additional questions

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Deferring all diligence until the first alert fires

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Simplified due diligence to speed onboarding

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Risk assessment review: a broker-dealer introduces omnibus arrangements for foreign intermediaries. What is the most appropriate assessment action?

Record the growth as a commercial success with no assessment change

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Wait several years to see whether the trend continues before assessing it

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Update the enterprise-wide assessment for the changed intermediary and underlying-customer visibility and recalibrate affected controls

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Score the new exposure as low risk to keep onboarding smooth

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An institution plans to patch incomplete beneficial ownership data inside its monitoring platform rather than fixing onboarding capture. Why is this approach weak?

Monitoring platforms cannot store any additional data

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Beneficial ownership is irrelevant to monitoring

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Onboarding data can never be corrected after account opening

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The underlying records remain incomplete for every other use, and the monitoring patch can diverge from the true customer record

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ACAMS CAMS (Certified Anti-Money Laundering Specialist) Exam Prep FREE Sample Exam — Fixed Set

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