[2022] CAMS Exam Dumps, Test Engine Practice Test Questions
Pass CAMS exam [Jan 14, 2022] Updated 405 Questions
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NEW QUESTION 170
Which are common types of economic sanctions? (Choose three.)
- A. Technological sanctions
- B. Comprehensive sanction
- C. Targeted sanctions
- D. Sectoral sanctions
- E. SWIFT network sanctions
- F. Supervisory sanctions
Answer: B,C,E
NEW QUESTION 171
In May 2002, the Wolfsberg Principles on Private Banking were revised and included a section that prohibits the use of internal non-client accounts in a manner that would prevent officials from appropriate monitoring movements of funds or keep clients from being linked to the movement of funds on their behalf.
What is another name for these internal, non-client accounts?
- A. Pay through accounts
- B. Trust accounts
- C. Correspondent accounts
- D. Concentration accounts
Answer: D
Explanation:
Reference:http://www.wolfsberg-principles.com/privat-banking.html(1.2.2, 5th bullet)
NEW QUESTION 172
How can dealers in high-value items be at risk for money laundering?
- A. Paperwork is not required to ship precious metals and gems
- B. Carrying large amounts of gems of high value is physically easy
- C. Drug dealers prefer cash to precious metals and gems
- D. The value of precious metals such as gold and silver is constantly fluctuating.
Answer: B
NEW QUESTION 173
You have Azure IoT Edge devices that collect measurements every 30 seconds.
You plan to send the measurements to an Azure IoT hub.
You need to process events in the cloud.
What should you use?
- A. Apache Kafka
- B. Azure Stream Analytics windowing functions
- C. Azure Stream Analytics record functions
- D. Azure Machine Learning on the IoT Edge devices
Answer: D
Explanation:
Use Azure Notebooks to develop a machine learning module and deploy it to a Linux device running Azure IoT Edge.
You can use IoT Edge modules to deploy code that implements your business logic directly to your IoT Edge devices.
References:
https://docs.microsoft.com/en-us/azure/iot-edge/tutorial-deploy-machine-learning Integrate AI models into solutions Testlet 2 Overview Contoso, Ltd. has an office in New York to serve its North American customers and an office in Paris to serve its European customers.
Existing Environment
Infrastructure
Each office has a small data center that hosts Active Directory services and a few off-the-shelf software solutions used by internal users.
The network contains a single Active Directory forest that contains a single domain named contoso.com. Azure Active Directory (Azure AD) Connect is used to extend identity management to Azure.
The company has an Azure subscription. Each office has an Azure ExpressRoute connection to the subscription. The New York office connects to a virtual network hosted in the US East 2 Azure region. The Paris office connects to a virtual network hosted in the West Europe Azure region.
The New York office has an Azure Stack Development Kit (ASDK) deployment that is used for development and testing.
Current Business Model
Contoso has a web app named Bookings hosted in an App Service Environment (ASE). The ASE is in the virtual network in the East US 2 region. Contoso employees and customers use Bookings to reserve hotel rooms.
Data Environment
Bookings connects to a Microsoft SQL Server database named hotelDB in the New York office.
The database has a view named vwAvailability that consolidates columns from the tables named Hotels, Rooms, and RoomAvailability. The database contains data that was collected during the last 20 years.
Problem Statements
Contoso identifies the following issues with its current business model:
* European users report that access to Booking is slow, and they lose customers who must wait on the phone while they search for available rooms.
* Users report that Bookings was unavailable during an outage in the New York data center for more than 24 hours.
Requirements
Contoso identifies the following issues with its current business model:
* European users report that access to Bookings is slow, and they lose customers who must wait on the phone while they search for available rooms.
* Users report that Bookings was unavailable during on outage in the New York data center for more than 24 hours.
Business Goals
Contoso wants to provide a new version of the Bookings app that will provide a highly available, reliable service for booking travel packages by interacting with a chatbot named Butler.
Contoso plans to move all production workloads to the cloud.
Technical requirements
Contoso identifies the following technical requirements:
* Data scientists must test Butler by using ASDK.
* Whenever possible, solutions must minimize costs.
* Butler must greet users by name when they first connect.
* Butler must be able to handle up to 10,000 messages a day.
* Butler must recognize the users' intent based on basic utterances.
* All configurations to the Azure Bot Service must be logged centrally.
* Whenever possible, solutions must use the principle of least privilege.
* Internal users must be able to access Butler by using Microsoft Skype for Business.
* The new Bookings app must provide a user interface where users can interact with Butler.
* Users in an Azure AD group named KeyManagers must be able to manage keys for all Azure Cognitive Services.
* Butler must provide users with the ability to reserve a room, cancel a reservation, and view existing reservations.
* The new Bookings app must be available to users in North America and Europe if a single data center or Azure region fails.
* For continuous improvement, you must be able to test Butler by sending sample utterances and comparing the chatbot's responses to the actual intent.
NEW QUESTION 174
With which of the following should an anti-money laundering officer coordinate when implementing a new hire screening program?
- A. Local Financial Intelligence Unit
- B. Human resources
- C. Internal auditor
- D. Institution's regulator
Answer: B
NEW QUESTION 175
In which situation can money laundering adversely affect a country's currencies and interest rates due to launderers investing dirty funds?
- A. They invest in a way to hide funds rather than get a high rate of return
- B. They invest in shell companies in secrecy havens that intentionally manipulate rates
- C. They invest in high risk ventures with high rates of return
- D. They invest in legitimate companies as a way of making their funds appear to be legitimate
Answer: C
NEW QUESTION 176
What is an aspect of the USA PATRIOT Act that has extraterritorial reach?
- A. To implement economic and trade sanctions based on US foreign policy.
- B. To strengthen US measures to prevent, detect and prosecute international money laundering and financing of terrorism.
- C. To mandate stricter money laundering controls across the continent.
- D. To require scrutiny of foreign financial institutions (FIs) and classes of international transactions that are susceptible to criminal abuse.
Answer: B
NEW QUESTION 177
An institution receives a request for credit from a local company that has been a client for many years. The information provided by the company indicates that its assets have increased substantially with the addition of several new subsidiaries. Further research performed by the institution indicates the new subsidiaries are recently created shell companies.
Could this indicate potential money laundering?
- A. No, the company has been a client for many years.
- B. Yes, the shell companies could have been created to hide beneficial ownership.
- C. Yes, shell companies are typically created to manage tax liabilities.
- D. No, it is normal for a business to diversify by creating shell companies.
Answer: C
NEW QUESTION 178
What is an essential element of Know Your Customer (KYC) standards according to the Basel Committee's Customer Due Diligence for Banks paper?
- A. The same KYC requirements must be applied in all cases
- B. All completed KYC documents must be reviewed by a senior manager not involved in the account opening process
- C. A customer acceptance policy
- D. Annual staff training
Answer: C
Explanation:
Explanation/Reference: https://www.bis.org/publ/bcbs77.pdf
NEW QUESTION 179
A relationship manager in a bank has had a private banking customer for 10 years. The customer has business accounts and investments and seeks advice on the creation of a company overseas. The relationship manager refers the customer to the commercial banking manager and vouches for the customer. Which of the following risk factors is the most important?
- A. The proposed offshore jurisdiction is known for its strong privacy laws limiting access to customer information by law enforcement.
- B. The customer does not want to provide more information than when the first account was opened. C.
The company wants to transfer funds in large, even amounts. - C. Entities that are to receive funds from this company are located in the same country.
Answer: B
NEW QUESTION 180
A bank located in Arizona is considering a loan application for a new client. The collateral for the loan is a property in Florida.
The loan will be in the name of a limited liability company (LLC) whose ownership is not disclosed to the bank.
The LLC was established by a New York-based attorney.
The loan will be repaid by the LLC in monthly wire transfers of $9,000 which is more than the required monthly payment.
Which aspect indicates the potential for money laundering?
- A. The collateral, a property in Florida, is not located in Arizona
- B. The LLC's ownership is not disclosed to the bank
- C. The repayment in the amount of $9,000 indicates potential structuring
- D. The attorney associated with the account is outside the bank's lending area
Answer: B,C
NEW QUESTION 181
What should a compliance officer do during an ongoing investigation into a client's activities by a competent authority?
- A. Communicate with regulatory and law enforcement authorities in line with applicable local laws
- B. Communicate only in writing regulatory and law enforcement authorities in line with applicable local laws
- C. Ensure communication with regulatory and law enforcement authorities is conducted only through the Board of Directors
- D. Only provide information that is specifically and directly requested
Answer: D
NEW QUESTION 182
Bank A is located in Country A.
A wire transfer from Bank B located in Country B is processes by Bank A, where the funds are being moved to a customer at Bank C located in Country C.
The wire transfer is deemed suspicious by Bank A.
Who should Bank A file a suspicious transaction report on?
- A. The transaction in Country B
- B. Bank C in Country C
- C. Bank B in Country A
- D. The transaction in Country A
Answer: D
NEW QUESTION 183
What are two aspects of the Wolfsberg Anti-Money Laundering (AML) Principles for Correspondent Banking? (Choose two.)
- A. An Institution may assign a low risk rating to a correspondent bank located in a jurisdiction deemed to have an adequate AML environment (e.g., Financial Action Task Force member country) without needing to consider other factors.
- B. At least one person, aside from the person sponsoring the relationship, should approve the correspondent relationship.
- C. Correspondent banking is an inherently high risk business and all correspondent bank relationships should be reviewed on an annual basis.
- D. Factors such as politically exposed person involvement and downstream (nested) correspondents increase the risk inherent in a correspondent relationship.
Answer: B,C
NEW QUESTION 184
Which precaution will a money launderer take to avoid detection when sending electronic transfers?
- A. Using cover payments for all electronic transfers
- B. Misspelling names to foil watch-list filtering systems
- C. Varying the amounts of transactions and using reputable organizations
- D. Using round dollar amounts, so funds appear to be gifts or loans
Answer: B
NEW QUESTION 185
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?
- A. Driving while under the influence
- B. Protests of government action
- C. Kidnapping
- D. Offenses involving dishonesty
Answer: D
Explanation:
Explanation
Explanation/Reference:
NEW QUESTION 186
A junior account manager within an international private bank in Country A was asked by one of his valued customers, who has held an account for several years in the institution, about depositing a large sum of cash into her account. The junior account manager informed his customer that his bank does not accept cash. The junior account manager later reviewed a customer activity report and noticed a number of smaller dollar wires from banks in neighboring Country B, which has lax currency controls, that totaled about as much as the customer intended to deposit.
What should the junior account manager do?
- A. Close the account
- B. Notify the anti-money laundering specialist of his bank, but do not call the customer
- C. Offer the customer a more secure method of depositing in the hope of learning something moreduring the conversation
- D. File a suspicious transaction report with the Financial Intelligence Unit
Answer: B
NEW QUESTION 187
You need to design the Butler chatbot solution to meet the technical requirements.
What is the best channel and pricing tier to use? More than one answer choice may achieve the goal. Select the BEST answer.
- A. Premium channels that use the S1 pricing tier
- B. Standard channels that use the Free pricing tier
- C. Premium channels that use the Free pricing tier
- D. Standard channels that use the S1 pricing tier
Answer: A
Explanation:
Explanation/Reference:
References:
https://azure.microsoft.com/en-in/pricing/details/bot-service/
NEW QUESTION 188
A U.K. real estate agent has three foreign clients interested in purchasing an apartment building, valued at E30 million, in the outskirts of London as an investment property. The clients are not willing to have their names provided to the bank. The clients want to purchase to be made in the names of three private companies for privacy reasons. The plan is to wire the funds into an account held in the name of another private company at a bank in London.
Which red flag should stop the agent from discussing this potential purchase further?
- A. The clients have the funds necessary to fund a E30 million purchase
- B. The clients are foreign
- C. The clients are not willing to have their names provided to the bank
- D. The clients want to purchase to be made in the names of the private companies
Answer: C
NEW QUESTION 189
You plan to deploy an AI solution that tracks the behavior of 10 custom mobile apps. Each mobile app has several thousand users.
You need to recommend a solution for real-time data ingestion for the data originating from the mobile app users.
Which Microsoft Azure service should you include in the recommendation?
- A. Azure Service Bus queries
- B. Azure Event Hubs
- C. Apache Storm on Azure HDInsight
- D. Azure Service Bus topics and subscriptions
Answer: B
Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-in/azure/event-hubs/event-hubs-about
NEW QUESTION 190
An automotive parts company in South America sends multiple $500,000 wire transfers per week to ABC Holdings Ltd. in Asia referencing payment for silk flower shipments. Research reveals Sunrise Holdings, Ltd is registered in the British Virgin Islands with no available ownership information.
What are two red flags that indicate how trade-based money laundering could be occurring in this instance?
(Choose two.)
- A. The transaction involves the use of front (or shell) companies
- B. Significant discrepancies appear between the description of the commodity on the bill of lading and the invoice
- C. The type of commodity being shipped appears inconsistent with the exporter or importer's regular business activities
- D. The packaging is inconsistent with the commodity or shipping method
Answer: A,B
NEW QUESTION 191
The anti-money laundering specialist of a small bank has identified suspicious activity at a branch located in an area of town where drug dealers are known to operate. An investigation of this activity discloses that the suspicious transactions occurred within the last 3 months and were processed by the same teller (cashier). The teller (cashier) did not file an internal report of unusual activity on these transactions. When checking personnel files, the specialist finds that the teller (cashier) has been a trusted employee for over 15 years, has an impeccable work record, and has participated in several anti-money laundering training sessions. The specialist recently became aware that the employee's daughter has contracted a rare disease and is undergoing a very expensive treatment program. Regarding the teller's (cashier's) failure to report the unusual activity to the institution, the specialist should recommend
- A. Suspending the teller's (cashier's) employment.
- B. Continuing to monitor the accounts.
- C. Directing the teller (cashier) to file a suspicious transaction report.
- D. Refreshing anti-money laundering training for the teller (cashier).
Answer: B
NEW QUESTION 192
What is a tool governments and multi-national bodies can use to prevent the proliferation of weapons of mass destruction?
- A. Account Monitoring Order
- B. Economic Sanctions
- C. Mutual Legal Assistance Treaties
- D. Commission Rogatoire
Answer: C
NEW QUESTION 193
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