CAMS Exam Dumps - Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)

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Question # 4

The role of FATF-style regional bodies (FSRBs) is to; (Select Three.)

identify and address the current financial crime trends through the issuance of typologies originating in members outside of their FSRB's Jurisdiction.

provide AM L/C FT technical assistance needed by members in their FSRB junsdiction.

coordinate technical assistance for members in their FSRB jurisdiction

set and amend the FATF 40 Recommendations for members in their FSRB jurisdiction.

identify and address any gaps in the AML/CFT policies for members outside of their FSRB jurisdiction.

offer mutual evaluation and follow-up processes for members in their FSRB Jurisdiction.

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Question # 5

Which of the following AML/CFT arrangements should a bank have in place at minimum before opening for business? (Choose three.)

Independent compliance testing

Qualified and knowledgeable staff

Third-party screening software

An automated monitoring system

Written policy and procedures

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Question # 6

Tax evasion is:

a deliberate attempt not to pay the tax which is due or obliged.

bending the rules to pay less tax than required.

not an important crime as it does not impact society.

a sophisticated process which always means the same as tax avoidance.

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Question # 7

Which of the following programs would most likely be considered part of an effective supervision regime for a regulator?

Onsite and offsite reviews, cooperating on an international basis with access to a range of sanctions and outreach

Onsite and offsite reviews, cooperating on an international and domestic basis with access to a range of sanctions and outreach

Offsite reviews, cooperating on a domestic basis with access to a range of sanctions and outreach

Onsite reviews, cooperating on an international and domestic basis with outreach and access to a range of sanctions

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Question # 8

An organization is developing a comprehensive anti-money laundering (AML) framework.

Which of the following statements best describes the relationship between AML policies and procedures?

Policies are detailed instructions for specific processes. Procedures are an overarching framework. Neither policies nor procedures are mandatory for knowledge and adherence

Policies are broad guidelines. Procedures are detailed Instructions for specific processes. Only procedures are mandatory for knowledge and adherence.

Policies are detailed instructions for specific processes Procedures are an overarching framework Both policies and procedures are mandatory for knowledge and adherence.

Policies define the principles of an organization and influence the drafting of procedures. Procedures are detailed instructions for specific processes.

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