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Simulate the real exam

We provide different versions of CAMS7 practice exam materials for our customers, among which the software version can stimulate the real exam for you but it only can be used in the windows operation system. It tries to simulate the CAMS7 best questions for our customers to learn and test at the same time and it has been proved to be good environment for IT workers to find deficiencies of their knowledge in the course of stimulation.

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Only need to practice for 20 to 30 hours

You will get to know the valuable exam tips and the latest question types in our CAMS7 certification training files, and there are special explanations for some difficult questions, which can help you to have a better understanding of the difficult questions. All of the questions we listed in our CAMS7 practice exam materials are the key points for the IT exam, and there is no doubt that you can practice all of CAMS7 best questions within 20 to 30 hours, even though the time you spend on it is very short, however the contents you have practiced are the quintessence for the IT exam. And of course, if you still have any misgivings, you can practice our CAMS7 certification training files again and again, which may help you to get the highest score in the IT exam.

ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions:

1. Which of the following accurately describes the economic, reputational and social consequences of money laundering (ML) and the risks and consequences of violating AFC regulations? (Choose two.)

A) When a financial institution (FI) is found to be promoting ML or violating AFC regulations, this can lead to a loss of confidence in the institution and a loss of customers. Interestingly, this scenario might sidestep any legal consequences for the Fl.
B) When laundered funds flow into legitimate economies, they can be used for illegal purposes, such as funding terrorist activities or organized crime. This distorts resource allocation and undermines development.
C) Jurisdictions perceived as having insufficient ML measures might be identified as uncooperative or high-risk, potentially facing restricted access to international markets, though economic sanctions by other countries are an unlikely outcome.
D) ML undermines the integrity and stability of financial systems and makes them vulnerable to illegal activity. This can erode investor confidence and hinder economic growth.

2. A financial institution is designing an enterprise-wide risk assessment (EWRA).
According to the guidance issued by the Wolfsberg Group regarding a risk-based approach to identifying and managing money laundering risks, an effective approach should:

A) Include appropriate measures and controls to mitigate money laundering risks stemming from higher- risk customers, products, and geographies.
B) Focus on the inherent risk in the FI's product and service offerings and the controls to mitigate potential money laundering risks.
C) Focus on understanding the risks presented by new clients within the assessment period, and the controls to mitigate associated money laundering risks.
D) Use a framework provided by a third-party vendor and used by other FIs in the jurisdiction.

3. Which line of defense would be tasked with interpreting new AML regulations and revising training for client- facing relationship managers?

A) Senior management
B) The third line
C) The second line
D) The first line

4. Non-compliance with relevant anti-money laundering laws and regulations can result in: (Select Two.)

A) increased reputation risk.
B) delisting of public filing status.
C) civil and criminal penalties
D) inclusion on the UN Consolidated List.

5. Ateam overseeing the governance and effectiveness of a bank's transaction monitoring approachshould implement which strategies? (Select Two.)

A) Periodic review of client profiles to ensure that the most up-to-date information is on file for high-risk clients in line with the bank's internal policies and procedures.
B) Periodic and ad hoc cooperation with the legal team to appropriately investigate and monitor the transactions of subjects of subpoenas or government inquiries.
C) Periodic review of the transaction monitoring scenarios and their productivity to ensure that appropriate AML typologies are reflected.
D) Periodic review of suspicious activity reports (SARs) filed with FinCEN to determine whether any should be withdrawn.

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