{"id":1495,"date":"2024-02-07T15:05:14","date_gmt":"2024-02-07T15:05:14","guid":{"rendered":"https:\/\/blog.topexamcollection.com\/?p=1495"},"modified":"2024-02-07T15:05:14","modified_gmt":"2024-02-07T15:05:14","slug":"2024-cams-premium-files-test-pdf-free-dumps-collection-q247-q270","status":"publish","type":"post","link":"https:\/\/blog.topexamcollection.com\/zh\/2024\/02\/2024-cams-premium-files-test-pdf-free-dumps-collection-q247-q270\/","title":{"rendered":"2024 CAMS Premium Files Test pdf &#8211; Free Dumps Collection [Q247-Q270]"},"content":{"rendered":"\n\n<div class=\"kk-star-ratings kksr-auto kksr-align-left kksr-valign-top\"\n    data-payload='{&quot;align&quot;:&quot;left&quot;,&quot;id&quot;:&quot;1495&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;top&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;5&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;4.4&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;4.4\\\/5 - (5 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;2024 CAMS Premium Files Test pdf - Free Dumps Collection [Q247-Q270]&quot;,&quot;width&quot;:&quot;125.1&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}'>\n            \n<div class=\"kksr-stars\">\n    \n<div class=\"kksr-stars-inactive\">\n            <div class=\"kksr-star\" data-star=\"1\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"2\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"3\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"4\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" data-star=\"5\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n    \n<div class=\"kksr-stars-active\" style=\"width: 125.1px;\">\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n            <div class=\"kksr-star\" style=\"padding-right: 5px\">\n            \n\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n        <\/div>\n    <\/div>\n<\/div>\n                \n\n<div class=\"kksr-legend\" style=\"font-size: 19.2px;\">\n            4.4\/5 - (5 votes)    <\/div>\n    <\/div>\n<p><strong><span style=\"font-size: 18px;color: red\">2024 CAMS Premium Files Test pdf &#8211; Free Dumps Collection<\/span><\/strong><\/p>\n<p><strong><span style=\"color: red\"> Get ready to pass the CAMS Exam right now using our CAMS Certification Exam Package<\/span><\/strong><\/p>\n<p><\/p>\n<h3>ACAMS CAMS Exam Syllabus Topics:<\/h3>\n<table border=\"1\" cellpadding=\"1\" cellspacing=\"1\" style=\"width:100%\">\n<tr>\n<th width=\"100px\">Topic<\/th>\n<th>Details<\/th>\n<\/tr>\n<tr>\n<td>Topic 1<\/td>\n<td>\n<ul>\n<li>Facilitates mobility across borders or industries.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Topic 2<\/td>\n<td>\n<ul>\n<li>Protects the integrity of the certifications and provides legal defensibility<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td>Topic 3<\/td>\n<td>\n<ul>\n<li>Money laundering risks and methods| such as Black Market Peso Exchange<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/table>\n<p>ACAMS CAMS exam covers a wide range of topics related to AML, including risk assessment, regulatory compliance, customer due diligence, and investigations. CAMS exam is designed to test the practical knowledge and skills of AML professionals, and it includes multiple-choice questions that cover real-life scenarios. CAMS exam is divided into six sections, each of which covers a specific aspect of AML. To pass the CAMS exam, candidates must score at least 75% on each section. CAMS exam is available in multiple languages, including English, Spanish, and Chinese, and it can be taken online or at a physical testing center.<\/p>\n<p>&nbsp;<\/p>\n<div id=\"watu_quiz\" class=\"quiz-area single-page-quiz\">\n<form action=\"\" method=\"post\" class=\"quiz-form \" id=\"quiz-675\" >\n<div class='watu-question' id='question-1'><div class='question-content'><p><strong>QUESTION 247<\/strong><br \/>A foreign politically exposed person (PEP) requests to add a beneficiary to a file insurance policy.<br \/>How should the request be processed to mitigate risk?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13190' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51010' \/><div class='watu-question-choice'><input type='radio' name='answer-13190[]' id='answer-id-51010' class='answer answer-1 php-answer-label answerof-13190' value='51010' \/>&nbsp;<label for='answer-id-51010' id='answer-label-51010' class='php-answer-label answer label-1'><span class='answer'>Perform due diligence on the beneficiary<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51011' \/><div class='watu-question-choice'><input type='radio' name='answer-13190[]' id='answer-id-51011' class='answer answer-1 js-answer-label answerof-13190' value='51011' \/>&nbsp;<label for='answer-id-51011' id='answer-label-51011' class='js-answer-label answer label-1'><span class='answer'>Determine the source of wealth and source of funds<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51012' \/><div class='watu-question-choice'><input type='radio' name='answer-13190[]' id='answer-id-51012' class='answer answer-1 js-answer-label answerof-13190' value='51012' \/>&nbsp;<label for='answer-id-51012' id='answer-label-51012' class='js-answer-label answer label-1'><span class='answer'>Decline the request if the beneficiary is a foreign PEP<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51013' \/><div class='watu-question-choice'><input type='radio' name='answer-13190[]' id='answer-id-51013' class='answer answer-1 js-answer-label answerof-13190' value='51013' \/>&nbsp;<label for='answer-id-51013' id='answer-label-51013' class='js-answer-label answer label-1'><span class='answer'>Decline the request to add a beneficiary due to increased risk<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(1,this)' id='btn-1' value='See Answer'  \/><input type='hidden' id='questionType1' value='radio' class=''><\/div><div class='watu-question' id='question-2'><div class='question-content'><p><strong>QUESTION 248<\/strong><br \/>One key aspect of the Office of Foreign Assets Control&#8217;s extraterritorial reach includes the blocking of certain non-United States initiated transactions for or through the United States (U.S.) for benefit of a restricted person or entity.<br \/>Under which three circumstances are U.S. banks required to block transactions? (Choose three.)<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13191' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51014' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13191[]' id='answer-id-51014' class='answer answer-2 php-answer-label answerof-13191' value='51014' \/>&nbsp;<label for='answer-id-51014' id='answer-label-51014' class='php-answer-label answer label-2'><span class='answer'>The transactions are to, or go through, a blocked entity<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51015' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13191[]' id='answer-id-51015' class='answer answer-2 php-answer-label answerof-13191' value='51015' \/>&nbsp;<label for='answer-id-51015' id='answer-label-51015' class='php-answer-label answer label-2'><span class='answer'>Those that are by, or on behalf of, a blocked individual or entity<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51016' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13191[]' id='answer-id-51016' class='answer answer-2 js-answer-label answerof-13191' value='51016' \/>&nbsp;<label for='answer-id-51016' id='answer-label-51016' class='js-answer-label answer label-2'><span class='answer'>Those that are by or on behalf of a blocked individual and a licensed entity<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51017' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13191[]' id='answer-id-51017' class='answer answer-2 php-answer-label answerof-13191' value='51017' \/>&nbsp;<label for='answer-id-51017' id='answer-label-51017' class='php-answer-label answer label-2'><span class='answer'>Those that are in connection with a transaction in which a blocked individual or entity has an interest<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51018' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13191[]' id='answer-id-51018' class='answer answer-2 js-answer-label answerof-13191' value='51018' \/>&nbsp;<label for='answer-id-51018' id='answer-label-51018' class='js-answer-label answer label-2'><span class='answer'>Those that are in connection with a transaction in which a blocked individual or entity has no interest<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(2,this)' id='btn-2' value='See Answer'  \/><input type='hidden' id='questionType2' value='checkbox' class=''><\/div><div class='watu-question' id='question-3'><div class='question-content'><p><strong>QUESTION 249<\/strong><br \/>An account officer who maintains an excellent relationship with the finance manager for a correspondent bank customer learns that many records for the correspondent bank have been requested by law enforcement. In the interest of maintaining a good relationship with the customer, the account officer sets up a meeting to discuss the legal request with the customer. The account officer intends to discuss points related to the investigation during this meeting. Which of the following should an anti-money laundering specialist recommend?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13192' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51019' \/><div class='watu-question-choice'><input type='radio' name='answer-13192[]' id='answer-id-51019' class='answer answer-3 js-answer-label answerof-13192' value='51019' \/>&nbsp;<label for='answer-id-51019' id='answer-label-51019' class='js-answer-label answer label-3'><span class='answer'>Discuss all the points being investigated by law enforcement to ensure the correspondent bank is well prepared when approached.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51020' \/><div class='watu-question-choice'><input type='radio' name='answer-13192[]' id='answer-id-51020' class='answer answer-3 js-answer-label answerof-13192' value='51020' \/>&nbsp;<label for='answer-id-51020' id='answer-label-51020' class='js-answer-label answer label-3'><span class='answer'>Let his manager know what conversations have taken place with the customer and document the account file accordingly.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51021' \/><div class='watu-question-choice'><input type='radio' name='answer-13192[]' id='answer-id-51021' class='answer answer-3 php-answer-label answerof-13192' value='51021' \/>&nbsp;<label for='answer-id-51021' id='answer-label-51021' class='php-answer-label answer label-3'><span class='answer'>Limit discussions about the investigation with the customer and be satisfied that he has provided proper notice to the customer.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51022' \/><div class='watu-question-choice'><input type='radio' name='answer-13192[]' id='answer-id-51022' class='answer answer-3 js-answer-label answerof-13192' value='51022' \/>&nbsp;<label for='answer-id-51022' id='answer-label-51022' class='js-answer-label answer label-3'><span class='answer'>The meeting should be cancelled as he has already behaved inappropriately by alerting the customer to the investigation.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(3,this)' id='btn-3' value='See Answer'  \/><input type='hidden' id='questionType3' value='radio' class=''><\/div><div class='watu-question' id='question-4'><div class='question-content'><p><strong>QUESTION 250<\/strong><br \/>In the FATF 40 recommendations, the focus of AML efforts has been expanded beyond Financial Institutions. Which three businesses and\/or professions are covered? Choose 3 answers<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13193' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51023' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13193[]' id='answer-id-51023' class='answer answer-4 js-answer-label answerof-13193' value='51023' \/>&nbsp;<label for='answer-id-51023' id='answer-label-51023' class='js-answer-label answer label-4'><span class='answer'>casinos, when customers engage in financial transactions equal to or above a designated Threshold<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51024' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13193[]' id='answer-id-51024' class='answer answer-4 php-answer-label answerof-13193' value='51024' \/>&nbsp;<label for='answer-id-51024' id='answer-label-51024' class='php-answer-label answer label-4'><span class='answer'>Real estate agents when they are involved in transactions for clients concerning buying and selling properties<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51025' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13193[]' id='answer-id-51025' class='answer answer-4 php-answer-label answerof-13193' value='51025' \/>&nbsp;<label for='answer-id-51025' id='answer-label-51025' class='php-answer-label answer label-4'><span class='answer'>Dealers in art, when they engage in any cash transaction with a customer at or above a designated threshold<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51026' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13193[]' id='answer-id-51026' class='answer answer-4 php-answer-label answerof-13193' value='51026' \/>&nbsp;<label for='answer-id-51026' id='answer-label-51026' class='php-answer-label answer label-4'><span class='answer'>Trust and company service providers<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(4,this)' id='btn-4' value='See Answer'  \/><input type='hidden' id='questionType4' value='checkbox' class=''><\/div><div class='watu-question' id='question-5'><div class='question-content'><p><strong>QUESTION 251<\/strong><br \/>A government has instituted a new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.<br \/>Which step should an institution located in this jurisdiction take to ensure compliance?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13194' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51027' \/><div class='watu-question-choice'><input type='radio' name='answer-13194[]' id='answer-id-51027' class='answer answer-5 js-answer-label answerof-13194' value='51027' \/>&nbsp;<label for='answer-id-51027' id='answer-label-51027' class='js-answer-label answer label-5'><span class='answer'>Change procedures to require that the necessary information is obtained<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51028' \/><div class='watu-question-choice'><input type='radio' name='answer-13194[]' id='answer-id-51028' class='answer answer-5 php-answer-label answerof-13194' value='51028' \/>&nbsp;<label for='answer-id-51028' id='answer-label-51028' class='php-answer-label answer label-5'><span class='answer'>Change procedures and systems as necessary and provide employee training<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51029' \/><div class='watu-question-choice'><input type='radio' name='answer-13194[]' id='answer-id-51029' class='answer answer-5 js-answer-label answerof-13194' value='51029' \/>&nbsp;<label for='answer-id-51029' id='answer-label-51029' class='js-answer-label answer label-5'><span class='answer'>Send a notice to customers asking them to provide the necessary information<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51030' \/><div class='watu-question-choice'><input type='radio' name='answer-13194[]' id='answer-id-51030' class='answer answer-5 js-answer-label answerof-13194' value='51030' \/>&nbsp;<label for='answer-id-51030' id='answer-label-51030' class='js-answer-label answer label-5'><span class='answer'>Change systems to ensure the required information is automatically obtained from all customers<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(5,this)' id='btn-5' value='See Answer'  \/><input type='hidden' id='questionType5' value='radio' class=''><\/div><div class='watu-question' id='question-6'><div class='question-content'><p><strong>QUESTION 252<\/strong><br \/>During the course of work on behalf of a client, a lawyer participated in the movement of money. If the lawyer suspects an act of money laundering, which of the following should the lawyer do according to European Union Money Laundering Directives?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13195' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51031' \/><div class='watu-question-choice'><input type='radio' name='answer-13195[]' id='answer-id-51031' class='answer answer-6 js-answer-label answerof-13195' value='51031' \/>&nbsp;<label for='answer-id-51031' id='answer-label-51031' class='js-answer-label answer label-6'><span class='answer'>Follow bank secrecy laws.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51032' \/><div class='watu-question-choice'><input type='radio' name='answer-13195[]' id='answer-id-51032' class='answer answer-6 php-answer-label answerof-13195' value='51032' \/>&nbsp;<label for='answer-id-51032' id='answer-label-51032' class='php-answer-label answer label-6'><span class='answer'>Report the facts to the competent authorities.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51033' \/><div class='watu-question-choice'><input type='radio' name='answer-13195[]' id='answer-id-51033' class='answer answer-6 js-answer-label answerof-13195' value='51033' \/>&nbsp;<label for='answer-id-51033' id='answer-label-51033' class='js-answer-label answer label-6'><span class='answer'>Inform the client of the intent to terminate services.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51034' \/><div class='watu-question-choice'><input type='radio' name='answer-13195[]' id='answer-id-51034' class='answer answer-6 js-answer-label answerof-13195' value='51034' \/>&nbsp;<label for='answer-id-51034' id='answer-label-51034' class='js-answer-label answer label-6'><span class='answer'>Adhere to business confidentiality laws.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(6,this)' id='btn-6' value='See Answer'  \/><input type='hidden' id='questionType6' value='radio' class=''><\/div><div class='watu-question' id='question-7'><div class='question-content'><p><strong>QUESTION 253<\/strong><br \/>Which two individuals are ordinarily beneficial owners of a private banking account according to the Wolfsberg Anti-Money Laundering Principles for Private Banking? (Choose two.)<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13196' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51035' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13196[]' id='answer-id-51035' class='answer answer-7 js-answer-label answerof-13196' value='51035' \/>&nbsp;<label for='answer-id-51035' id='answer-label-51035' class='js-answer-label answer label-7'><span class='answer'>Those two are authorized signers on the account<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51036' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13196[]' id='answer-id-51036' class='answer answer-7 js-answer-label answerof-13196' value='51036' \/>&nbsp;<label for='answer-id-51036' id='answer-label-51036' class='js-answer-label answer label-7'><span class='answer'>Those who have legal title to a controlling share interest in the customer<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51037' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13196[]' id='answer-id-51037' class='answer answer-7 php-answer-label answerof-13196' value='51037' \/>&nbsp;<label for='answer-id-51037' id='answer-label-51037' class='php-answer-label answer label-7'><span class='answer'>Those who generally have ultimate control through ownership or other means over the funds in the account<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51038' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13196[]' id='answer-id-51038' class='answer answer-7 php-answer-label answerof-13196' value='51038' \/>&nbsp;<label for='answer-id-51038' id='answer-label-51038' class='php-answer-label answer label-7'><span class='answer'>Those who are the ultimate source of funds for the account and whose source of wealth should be subject to due diligence<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Reference: https:\/\/www.wolfsberg-principles.com\/sites\/default\/files\/wb\/pdfs\/wolfsberg-standards\/10.%<br\/>20Wolfsberg-Private-Banking-Prinicples-May-2012.pdf (2)<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(7,this)' id='btn-7' value='See Answer'  \/><input type='hidden' id='questionType7' value='checkbox' class=''><\/div><div class='watu-question' id='question-8'><div class='question-content'><p><strong>QUESTION 254<\/strong><br \/>An anti-money laundering specialist has been asked to create internal anti-money laundering policies, procedures and controls for a recently chartered offshore financial institution.<br \/>Which three should be included? Choose 3 answers<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13197' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51039' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13197[]' id='answer-id-51039' class='answer answer-8 js-answer-label answerof-13197' value='51039' \/>&nbsp;<label for='answer-id-51039' id='answer-label-51039' class='js-answer-label answer label-8'><span class='answer'>Basel Committee on Banking Supervision&#8217;s capital adequacy requirements for the host country<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51040' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13197[]' id='answer-id-51040' class='answer answer-8 php-answer-label answerof-13197' value='51040' \/>&nbsp;<label for='answer-id-51040' id='answer-label-51040' class='php-answer-label answer label-8'><span class='answer'>A training program for senior management and staff<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51041' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13197[]' id='answer-id-51041' class='answer answer-8 php-answer-label answerof-13197' value='51041' \/>&nbsp;<label for='answer-id-51041' id='answer-label-51041' class='php-answer-label answer label-8'><span class='answer'>An anti-money laundering compliance program, internal audit program, and procedure manual<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51042' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13197[]' id='answer-id-51042' class='answer answer-8 php-answer-label answerof-13197' value='51042' \/>&nbsp;<label for='answer-id-51042' id='answer-label-51042' class='php-answer-label answer label-8'><span class='answer'>Compliance requirement of host and charting countries<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(8,this)' id='btn-8' value='See Answer'  \/><input type='hidden' id='questionType8' value='checkbox' class=''><\/div><div class='watu-question' id='question-9'><div class='question-content'><p><strong>QUESTION 255<\/strong><br \/>A compliance officer for a casino may suspect money laundering if an individual:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13198' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51043' \/><div class='watu-question-choice'><input type='radio' name='answer-13198[]' id='answer-id-51043' class='answer answer-9 js-answer-label answerof-13198' value='51043' \/>&nbsp;<label for='answer-id-51043' id='answer-label-51043' class='js-answer-label answer label-9'><span class='answer'>invokes reporting requirements through a lump sum payment.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51044' \/><div class='watu-question-choice'><input type='radio' name='answer-13198[]' id='answer-id-51044' class='answer answer-9 js-answer-label answerof-13198' value='51044' \/>&nbsp;<label for='answer-id-51044' id='answer-label-51044' class='js-answer-label answer label-9'><span class='answer'>refers to casino associates by their first name.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51045' \/><div class='watu-question-choice'><input type='radio' name='answer-13198[]' id='answer-id-51045' class='answer answer-9 js-answer-label answerof-13198' value='51045' \/>&nbsp;<label for='answer-id-51045' id='answer-label-51045' class='js-answer-label answer label-9'><span class='answer'>purchases a low volume of chips with cash and turns them in for a casino check.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51046' \/><div class='watu-question-choice'><input type='radio' name='answer-13198[]' id='answer-id-51046' class='answer answer-9 php-answer-label answerof-13198' value='51046' \/>&nbsp;<label for='answer-id-51046' id='answer-label-51046' class='php-answer-label answer label-9'><span class='answer'>requests to have winnings transferred to a bank account of a third party.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Reference: https:\/\/www.americangaming.org\/wp-content\/uploads\/2018\/12\/Best-Practice-2017.pdf<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(9,this)' id='btn-9' value='See Answer'  \/><input type='hidden' id='questionType9' value='radio' class=''><\/div><div class='watu-question' id='question-10'><div class='question-content'><p><strong>QUESTION 256<\/strong><br \/>What are four key elements that a KYC program should contain according to the Basel Committee requirements?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13199' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51047' \/><div class='watu-question-choice'><input type='radio' name='answer-13199[]' id='answer-id-51047' class='answer answer-10 js-answer-label answerof-13199' value='51047' \/>&nbsp;<label for='answer-id-51047' id='answer-label-51047' class='js-answer-label answer label-10'><span class='answer'>Customer onboarding, sanction monitoring, customer acceptance, customer due diligence<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51048' \/><div class='watu-question-choice'><input type='radio' name='answer-13199[]' id='answer-id-51048' class='answer answer-10 js-answer-label answerof-13199' value='51048' \/>&nbsp;<label for='answer-id-51048' id='answer-label-51048' class='js-answer-label answer label-10'><span class='answer'>Customer identification, risk assessment, customer screening, monitoring<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51049' \/><div class='watu-question-choice'><input type='radio' name='answer-13199[]' id='answer-id-51049' class='answer answer-10 js-answer-label answerof-13199' value='51049' \/>&nbsp;<label for='answer-id-51049' id='answer-label-51049' class='js-answer-label answer label-10'><span class='answer'>Customer onboarding, risk monitoring, customer acceptance, enhanced due diligence<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51050' \/><div class='watu-question-choice'><input type='radio' name='answer-13199[]' id='answer-id-51050' class='answer answer-10 php-answer-label answerof-13199' value='51050' \/>&nbsp;<label for='answer-id-51050' id='answer-label-51050' class='php-answer-label answer label-10'><span class='answer'>Customer identification, risk management, customer acceptance, monitoring<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(10,this)' id='btn-10' value='See Answer'  \/><input type='hidden' id='questionType10' value='radio' class=''><\/div><div class='watu-question' id='question-11'><div class='question-content'><p><strong>QUESTION 257<\/strong><br \/>A popular restaurant in town has begun depositing less cash than it has in prior years. In a review of the customer&#8217;s accounts, you notice that credit card receipts have increased with no explanation.<br \/>The account officer discovers that the restaurant has installed a privately-owned automated teller machine (ATM) onsite and has begun construction on a patio dining area.<br \/>Which red flag should trigger additional investigation?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13200' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51051' \/><div class='watu-question-choice'><input type='radio' name='answer-13200[]' id='answer-id-51051' class='answer answer-11 js-answer-label answerof-13200' value='51051' \/>&nbsp;<label for='answer-id-51051' id='answer-label-51051' class='js-answer-label answer label-11'><span class='answer'>Privately-owned ATM<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51052' \/><div class='watu-question-choice'><input type='radio' name='answer-13200[]' id='answer-id-51052' class='answer answer-11 js-answer-label answerof-13200' value='51052' \/>&nbsp;<label for='answer-id-51052' id='answer-label-51052' class='js-answer-label answer label-11'><span class='answer'>Lower cash deposits<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51053' \/><div class='watu-question-choice'><input type='radio' name='answer-13200[]' id='answer-id-51053' class='answer answer-11 php-answer-label answerof-13200' value='51053' \/>&nbsp;<label for='answer-id-51053' id='answer-label-51053' class='php-answer-label answer label-11'><span class='answer'>Increased credit card receipts<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51054' \/><div class='watu-question-choice'><input type='radio' name='answer-13200[]' id='answer-id-51054' class='answer answer-11 js-answer-label answerof-13200' value='51054' \/>&nbsp;<label for='answer-id-51054' id='answer-label-51054' class='js-answer-label answer label-11'><span class='answer'>Construction of the new patio dining area<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(11,this)' id='btn-11' value='See Answer'  \/><input type='hidden' id='questionType11' value='radio' class=''><\/div><div class='watu-question' id='question-12'><div class='question-content'><p><strong>QUESTION 258<\/strong><br \/>An institution has made the decision to exit a client relationship due to anti-money laundering concerns. Prior to starting the close out process, the institution receives a written request from a law enforcement agency to keep the account open. The client is the subject of an ongoing investigation and law enforcement wants the institution to continue to monitor the account and report any suspicious activity.<br \/>What is a primary consideration the institution should keep in mind when deciding whether to agree to this request?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13201' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51055' \/><div class='watu-question-choice'><input type='radio' name='answer-13201[]' id='answer-id-51055' class='answer answer-12 js-answer-label answerof-13201' value='51055' \/>&nbsp;<label for='answer-id-51055' id='answer-label-51055' class='js-answer-label answer label-12'><span class='answer'>The anticipated cost of complying with the law enforcement request<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51056' \/><div class='watu-question-choice'><input type='radio' name='answer-13201[]' id='answer-id-51056' class='answer answer-12 js-answer-label answerof-13201' value='51056' \/>&nbsp;<label for='answer-id-51056' id='answer-label-51056' class='js-answer-label answer label-12'><span class='answer'>The number of suspicious transaction reports previously filed on the client<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51057' \/><div class='watu-question-choice'><input type='radio' name='answer-13201[]' id='answer-id-51057' class='answer answer-12 js-answer-label answerof-13201' value='51057' \/>&nbsp;<label for='answer-id-51057' id='answer-label-51057' class='js-answer-label answer label-12'><span class='answer'>The fact that the institution has a solid record in complying with law enforcement requests<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51058' \/><div class='watu-question-choice'><input type='radio' name='answer-13201[]' id='answer-id-51058' class='answer answer-12 php-answer-label answerof-13201' value='51058' \/>&nbsp;<label for='answer-id-51058' id='answer-label-51058' class='php-answer-label answer label-12'><span class='answer'>Whether the institution can continue to meet its regulatory obligations with the accounts open<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Explanation<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(12,this)' id='btn-12' value='See Answer'  \/><input type='hidden' id='questionType12' value='radio' class=''><\/div><div class='watu-question' id='question-13'><div class='question-content'><p><strong>QUESTION 259<\/strong><br \/>Which red flag indicates high potential for money laundering in a real estate purchase?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13202' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51059' \/><div class='watu-question-choice'><input type='radio' name='answer-13202[]' id='answer-id-51059' class='answer answer-13 js-answer-label answerof-13202' value='51059' \/>&nbsp;<label for='answer-id-51059' id='answer-label-51059' class='js-answer-label answer label-13'><span class='answer'>The purchaser is a nominee<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51060' \/><div class='watu-question-choice'><input type='radio' name='answer-13202[]' id='answer-id-51060' class='answer answer-13 js-answer-label answerof-13202' value='51060' \/>&nbsp;<label for='answer-id-51060' id='answer-label-51060' class='js-answer-label answer label-13'><span class='answer'>The purchaser had a previous bankruptcy<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51061' \/><div class='watu-question-choice'><input type='radio' name='answer-13202[]' id='answer-id-51061' class='answer answer-13 php-answer-label answerof-13202' value='51061' \/>&nbsp;<label for='answer-id-51061' id='answer-label-51061' class='php-answer-label answer label-13'><span class='answer'>The purchaser owns a cash intensive business<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51062' \/><div class='watu-question-choice'><input type='radio' name='answer-13202[]' id='answer-id-51062' class='answer answer-13 js-answer-label answerof-13202' value='51062' \/>&nbsp;<label for='answer-id-51062' id='answer-label-51062' class='js-answer-label answer label-13'><span class='answer'>The purchaser is not a resident where the property is located<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(13,this)' id='btn-13' value='See Answer'  \/><input type='hidden' id='questionType13' value='radio' class=''><\/div><div class='watu-question' id='question-14'><div class='question-content'><p><strong>QUESTION 260<\/strong><br \/>Which statement describes the relationship between the internal audit function and compliance?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13203' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51063' \/><div class='watu-question-choice'><input type='radio' name='answer-13203[]' id='answer-id-51063' class='answer answer-14 php-answer-label answerof-13203' value='51063' \/>&nbsp;<label for='answer-id-51063' id='answer-label-51063' class='php-answer-label answer label-14'><span class='answer'>The internal audit methodology should include an assessment of compliance risk<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51064' \/><div class='watu-question-choice'><input type='radio' name='answer-13203[]' id='answer-id-51064' class='answer answer-14 js-answer-label answerof-13203' value='51064' \/>&nbsp;<label for='answer-id-51064' id='answer-label-51064' class='js-answer-label answer label-14'><span class='answer'>An internal audit program of the adequacy of the bank&#8217;s compliance function should be established, but should not include review of transactions<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51065' \/><div class='watu-question-choice'><input type='radio' name='answer-13203[]' id='answer-id-51065' class='answer answer-14 js-answer-label answerof-13203' value='51065' \/>&nbsp;<label for='answer-id-51065' id='answer-label-51065' class='js-answer-label answer label-14'><span class='answer'>The compliance function and internal audit function should be combined<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51066' \/><div class='watu-question-choice'><input type='radio' name='answer-13203[]' id='answer-id-51066' class='answer answer-14 js-answer-label answerof-13203' value='51066' \/>&nbsp;<label for='answer-id-51066' id='answer-label-51066' class='js-answer-label answer label-14'><span class='answer'>In order to maintain independence, the auditors should not discuss internal audit findings with compliance management<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(14,this)' id='btn-14' value='See Answer'  \/><input type='hidden' id='questionType14' value='radio' class=''><\/div><div class='watu-question' id='question-15'><div class='question-content'><p><strong>QUESTION 261<\/strong><br \/>Which statement about a multinational institution&#8217;s ability to fully investigate unusual activity in all its foreign operations is correct?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13204' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51067' \/><div class='watu-question-choice'><input type='radio' name='answer-13204[]' id='answer-id-51067' class='answer answer-15 js-answer-label answerof-13204' value='51067' \/>&nbsp;<label for='answer-id-51067' id='answer-label-51067' class='js-answer-label answer label-15'><span class='answer'>Local privacy and data protection laws may prevent an affiliate from sharing information.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51068' \/><div class='watu-question-choice'><input type='radio' name='answer-13204[]' id='answer-id-51068' class='answer answer-15 js-answer-label answerof-13204' value='51068' \/>&nbsp;<label for='answer-id-51068' id='answer-label-51068' class='js-answer-label answer label-15'><span class='answer'>Certain account documents may be stored only in local language which will prohibit a global assessment.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51069' \/><div class='watu-question-choice'><input type='radio' name='answer-13204[]' id='answer-id-51069' class='answer answer-15 js-answer-label answerof-13204' value='51069' \/>&nbsp;<label for='answer-id-51069' id='answer-label-51069' class='js-answer-label answer label-15'><span class='answer'>The institution should consult with the customer and request permission to conduct a full investigation into all the accounts.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51070' \/><div class='watu-question-choice'><input type='radio' name='answer-13204[]' id='answer-id-51070' class='answer answer-15 php-answer-label answerof-13204' value='51070' \/>&nbsp;<label for='answer-id-51070' id='answer-label-51070' class='php-answer-label answer label-15'><span class='answer'>Enterprise-wide compliance oversight rules issued in the global institution&#8217;s headquarters country will override any local limitations in other countries.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Explanation<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(15,this)' id='btn-15' value='See Answer'  \/><input type='hidden' id='questionType15' value='radio' class=''><\/div><div class='watu-question' id='question-16'><div class='question-content'><p><strong>QUESTION 262<\/strong><br \/>The marketing department presents a business plan targeting individuals holding important public positions.<br \/>What are some steps the financial institution should implement as part of the plan to target such individuals?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13205' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51071' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13205[]' id='answer-id-51071' class='answer answer-16 php-answer-label answerof-13205' value='51071' \/>&nbsp;<label for='answer-id-51071' id='answer-label-51071' class='php-answer-label answer label-16'><span class='answer'>Investigate the source of funds<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51072' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13205[]' id='answer-id-51072' class='answer answer-16 php-answer-label answerof-13205' value='51072' \/>&nbsp;<label for='answer-id-51072' id='answer-label-51072' class='php-answer-label answer label-16'><span class='answer'>Determine the purpose of the account<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51073' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13205[]' id='answer-id-51073' class='answer answer-16 js-answer-label answerof-13205' value='51073' \/>&nbsp;<label for='answer-id-51073' id='answer-label-51073' class='js-answer-label answer label-16'><span class='answer'>Determine if the client appears on the Basel Committee on Banking Supervision&#8217;s list of public officials<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51074' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13205[]' id='answer-id-51074' class='answer answer-16 php-answer-label answerof-13205' value='51074' \/>&nbsp;<label for='answer-id-51074' id='answer-label-51074' class='php-answer-label answer label-16'><span class='answer'>Take all reasonable steps to check the background of the individual based on public information<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Explanation\/Reference:<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(16,this)' id='btn-16' value='See Answer'  \/><input type='hidden' id='questionType16' value='checkbox' class=''><\/div><div class='watu-question' id='question-17'><div class='question-content'><p><strong>QUESTION 263<\/strong><br \/>Based on studies executed by the Organization for Economic Cooperation and Development (OECD), which occupations are particularly vulnerable to the use of false identities and identity theft?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13206' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51075' \/><div class='watu-question-choice'><input type='radio' name='answer-13206[]' id='answer-id-51075' class='answer answer-17 php-answer-label answerof-13206' value='51075' \/>&nbsp;<label for='answer-id-51075' id='answer-label-51075' class='php-answer-label answer label-17'><span class='answer'>Government officers<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51076' \/><div class='watu-question-choice'><input type='radio' name='answer-13206[]' id='answer-id-51076' class='answer answer-17 js-answer-label answerof-13206' value='51076' \/>&nbsp;<label for='answer-id-51076' id='answer-label-51076' class='js-answer-label answer label-17'><span class='answer'>Sea port officers<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51077' \/><div class='watu-question-choice'><input type='radio' name='answer-13206[]' id='answer-id-51077' class='answer answer-17 js-answer-label answerof-13206' value='51077' \/>&nbsp;<label for='answer-id-51077' id='answer-label-51077' class='js-answer-label answer label-17'><span class='answer'>Lawyers<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51078' \/><div class='watu-question-choice'><input type='radio' name='answer-13206[]' id='answer-id-51078' class='answer answer-17 js-answer-label answerof-13206' value='51078' \/>&nbsp;<label for='answer-id-51078' id='answer-label-51078' class='js-answer-label answer label-17'><span class='answer'>Laborers<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(17,this)' id='btn-17' value='See Answer'  \/><input type='hidden' id='questionType17' value='radio' class=''><\/div><div class='watu-question' id='question-18'><div class='question-content'><p><strong>QUESTION 264<\/strong><br \/>Sanctions screening requirements include that a financial institution should:<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13207' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51079' \/><div class='watu-question-choice'><input type='radio' name='answer-13207[]' id='answer-id-51079' class='answer answer-18 js-answer-label answerof-13207' value='51079' \/>&nbsp;<label for='answer-id-51079' id='answer-label-51079' class='js-answer-label answer label-18'><span class='answer'>report an individual whose name appears on a sanctions list to the police.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51080' \/><div class='watu-question-choice'><input type='radio' name='answer-13207[]' id='answer-id-51080' class='answer answer-18 js-answer-label answerof-13207' value='51080' \/>&nbsp;<label for='answer-id-51080' id='answer-label-51080' class='js-answer-label answer label-18'><span class='answer'>immediately freeze the bank account of an individual that appears on a sanctions list.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51081' \/><div class='watu-question-choice'><input type='radio' name='answer-13207[]' id='answer-id-51081' class='answer answer-18 php-answer-label answerof-13207' value='51081' \/>&nbsp;<label for='answer-id-51081' id='answer-label-51081' class='php-answer-label answer label-18'><span class='answer'>compare customer and transaction records against periodically updated sanctions lists provided by governmental bodies.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51082' \/><div class='watu-question-choice'><input type='radio' name='answer-13207[]' id='answer-id-51082' class='answer answer-18 js-answer-label answerof-13207' value='51082' \/>&nbsp;<label for='answer-id-51082' id='answer-label-51082' class='js-answer-label answer label-18'><span class='answer'>immediately close the bank account of an entity who appears on a sanctions list.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Explanation<br\/>Compare customer and transaction records against periodically updated sanctions lists provided by governmental bodies. This is stated in the Certified Anti-Money Laundering Specialist (the 6th edition) manual on page 595, which states: &#8220;Sanctions screening requirements include that a financial institution should compare customer and transaction records against periodically updated sanctions lists provided by governmental bodies.&#8221;<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(18,this)' id='btn-18' value='See Answer'  \/><input type='hidden' id='questionType18' value='radio' class=''><\/div><div class='watu-question' id='question-19'><div class='question-content'><p><strong>QUESTION 265<\/strong><br \/>An audit completed the previous week revealed that a private banking customer submitted incomplete documents when establishing an account earlier m the year. The customer received weekly electronic fund transfers from a narcotic-producing jurisdiction. While the relationship manager who opened the account is on leave for 5 weeks, the customer requests that the institution remit a substantial sum to a country that represents a high risk of money laundering. The relationship manager is a friend of the anti-money laundering specialist. What should the anti-money laundering officer do first?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13208' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51083' \/><div class='watu-question-choice'><input type='radio' name='answer-13208[]' id='answer-id-51083' class='answer answer-19 php-answer-label answerof-13208' value='51083' \/>&nbsp;<label for='answer-id-51083' id='answer-label-51083' class='php-answer-label answer label-19'><span class='answer'>File a suspicious transaction report with the competent authority<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51084' \/><div class='watu-question-choice'><input type='radio' name='answer-13208[]' id='answer-id-51084' class='answer answer-19 js-answer-label answerof-13208' value='51084' \/>&nbsp;<label for='answer-id-51084' id='answer-label-51084' class='js-answer-label answer label-19'><span class='answer'>Investigate the transfer of funds<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51085' \/><div class='watu-question-choice'><input type='radio' name='answer-13208[]' id='answer-id-51085' class='answer answer-19 js-answer-label answerof-13208' value='51085' \/>&nbsp;<label for='answer-id-51085' id='answer-label-51085' class='js-answer-label answer label-19'><span class='answer'>Suspend the transfer until the relationship manager returns<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51086' \/><div class='watu-question-choice'><input type='radio' name='answer-13208[]' id='answer-id-51086' class='answer answer-19 js-answer-label answerof-13208' value='51086' \/>&nbsp;<label for='answer-id-51086' id='answer-label-51086' class='js-answer-label answer label-19'><span class='answer'>Postpone the follow-up on the audit finding<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(19,this)' id='btn-19' value='See Answer'  \/><input type='hidden' id='questionType19' value='radio' class=''><\/div><div class='watu-question' id='question-20'><div class='question-content'><p><strong>QUESTION 266<\/strong><br \/>What is the term for trading through multiple accounts, where an individual generates offsetting profits and losses and transfers of positions through accounts that do not appear to be commonly controlled?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13209' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51087' \/><div class='watu-question-choice'><input type='radio' name='answer-13209[]' id='answer-id-51087' class='answer answer-20 js-answer-label answerof-13209' value='51087' \/>&nbsp;<label for='answer-id-51087' id='answer-label-51087' class='js-answer-label answer label-20'><span class='answer'>Ponzi scheme<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51088' \/><div class='watu-question-choice'><input type='radio' name='answer-13209[]' id='answer-id-51088' class='answer answer-20 js-answer-label answerof-13209' value='51088' \/>&nbsp;<label for='answer-id-51088' id='answer-label-51088' class='js-answer-label answer label-20'><span class='answer'>Market Manipulation<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51089' \/><div class='watu-question-choice'><input type='radio' name='answer-13209[]' id='answer-id-51089' class='answer answer-20 js-answer-label answerof-13209' value='51089' \/>&nbsp;<label for='answer-id-51089' id='answer-label-51089' class='js-answer-label answer label-20'><span class='answer'>Net Trading<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51090' \/><div class='watu-question-choice'><input type='radio' name='answer-13209[]' id='answer-id-51090' class='answer answer-20 php-answer-label answerof-13209' value='51090' \/>&nbsp;<label for='answer-id-51090' id='answer-label-51090' class='php-answer-label answer label-20'><span class='answer'>Wash Trading<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(20,this)' id='btn-20' value='See Answer'  \/><input type='hidden' id='questionType20' value='radio' class=''><\/div><div class='watu-question' id='question-21'><div class='question-content'><p><strong>QUESTION 267<\/strong><br \/>A prospective client walks into an accounting firm wanting to incorporate a company. The accountant feels uncomfortable after the meeting. Which two of the accountant&#8217;s observations warrant escalation to the compliance officer? (Select Two.)<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13210' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51091' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13210[]' id='answer-id-51091' class='answer answer-21 php-answer-label answerof-13210' value='51091' \/>&nbsp;<label for='answer-id-51091' id='answer-label-51091' class='php-answer-label answer label-21'><span class='answer'>The prospective client is unable to provide information about the beneficial owners.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51092' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13210[]' id='answer-id-51092' class='answer answer-21 js-answer-label answerof-13210' value='51092' \/>&nbsp;<label for='answer-id-51092' id='answer-label-51092' class='js-answer-label answer label-21'><span class='answer'>The prospective client is able to provide source of funds and source of wealth documents.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51093' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13210[]' id='answer-id-51093' class='answer answer-21 php-answer-label answerof-13210' value='51093' \/>&nbsp;<label for='answer-id-51093' id='answer-label-51093' class='php-answer-label answer label-21'><span class='answer'>The prospective client presents confusing details about the proposed business and has very little knowledge about the proposed business activity.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51094' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13210[]' id='answer-id-51094' class='answer answer-21 js-answer-label answerof-13210' value='51094' \/>&nbsp;<label for='answer-id-51094' id='answer-label-51094' class='js-answer-label answer label-21'><span class='answer'>The principal activities of the proposed company are importing and exporting new furniture.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51095' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13210[]' id='answer-id-51095' class='answer answer-21 js-answer-label answerof-13210' value='51095' \/>&nbsp;<label for='answer-id-51095' id='answer-label-51095' class='js-answer-label answer label-21'><span class='answer'>The prospective client exhibits confidence when speaking to the accountant when providing personal details.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Explanation<br\/>A lack of information about beneficial owners is a red flag for potential money laundering or terrorist financing. It is important to identify who the actual owners of the company are to understand their potential risk exposure.<br\/>Confusing details about the proposed business activity and lack of knowledge about the proposed business are also red flags for potential money laundering or terrorist financing. This could indicate that the proposed business activity is not legitimate and is being used to conceal illegal activities.<br\/>Therefore, these two observations should be escalated to the compliance officer for further investigation.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(21,this)' id='btn-21' value='See Answer'  \/><input type='hidden' id='questionType21' value='checkbox' class=''><\/div><div class='watu-question' id='question-22'><div class='question-content'><p><strong>QUESTION 268<\/strong><br \/>Which three methods are commonly used by an accountant to launder money? (Choose three.)<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13211' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51096' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13211[]' id='answer-id-51096' class='answer answer-22 js-answer-label answerof-13211' value='51096' \/>&nbsp;<label for='answer-id-51096' id='answer-label-51096' class='js-answer-label answer label-22'><span class='answer'>Representing a client court<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51097' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13211[]' id='answer-id-51097' class='answer answer-22 js-answer-label answerof-13211' value='51097' \/>&nbsp;<label for='answer-id-51097' id='answer-label-51097' class='js-answer-label answer label-22'><span class='answer'>Understanding income to take a tax loss<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51098' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13211[]' id='answer-id-51098' class='answer answer-22 php-answer-label answerof-13211' value='51098' \/>&nbsp;<label for='answer-id-51098' id='answer-label-51098' class='php-answer-label answer label-22'><span class='answer'>Overstating income to hide excess cash<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51099' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13211[]' id='answer-id-51099' class='answer answer-22 php-answer-label answerof-13211' value='51099' \/>&nbsp;<label for='answer-id-51099' id='answer-label-51099' class='php-answer-label answer label-22'><span class='answer'>Acting as a conduit for transferring cash between accounts<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51100' \/><div class='watu-question-choice'><input type='checkbox' name='answer-13211[]' id='answer-id-51100' class='answer answer-22 php-answer-label answerof-13211' value='51100' \/>&nbsp;<label for='answer-id-51100' id='answer-label-51100' class='php-answer-label answer label-22'><span class='answer'>Acting as a designee for someone who wishes to hide their identity<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'><\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(22,this)' id='btn-22' value='See Answer'  \/><input type='hidden' id='questionType22' value='checkbox' class=''><\/div><div class='watu-question' id='question-23'><div class='question-content'><p><strong>QUESTION 269<\/strong><br \/>Bank A is located in Country A.<br \/>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.<br \/>The wire transfer isdeemed suspicious by Bank A.<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13212' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51101' \/><div class='watu-question-choice'><input type='radio' name='answer-13212[]' id='answer-id-51101' class='answer answer-23 php-answer-label answerof-13212' value='51101' \/>&nbsp;<label for='answer-id-51101' id='answer-label-51101' class='php-answer-label answer label-23'><span class='answer'>The transaction in Country A.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51102' \/><div class='watu-question-choice'><input type='radio' name='answer-13212[]' id='answer-id-51102' class='answer answer-23 js-answer-label answerof-13212' value='51102' \/>&nbsp;<label for='answer-id-51102' id='answer-label-51102' class='js-answer-label answer label-23'><span class='answer'>Bank B in Country A.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51103' \/><div class='watu-question-choice'><input type='radio' name='answer-13212[]' id='answer-id-51103' class='answer answer-23 js-answer-label answerof-13212' value='51103' \/>&nbsp;<label for='answer-id-51103' id='answer-label-51103' class='js-answer-label answer label-23'><span class='answer'>The transaction in Country B.<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51104' \/><div class='watu-question-choice'><input type='radio' name='answer-13212[]' id='answer-id-51104' class='answer answer-23 js-answer-label answerof-13212' value='51104' \/>&nbsp;<label for='answer-id-51104' id='answer-label-51104' class='js-answer-label answer label-23'><span class='answer'>Bank C in Country C.<\/span><\/label><\/div>\n<\/div><div class='show-question-feedback' style='display:none;'>Explanation<br\/>Another simpler way of looking at the problem is by seeing this case as a Correspondent Banking relationship:<br\/>-A is the primary correspondent bank.<br\/>-B is the respondent bank.<br\/>-C is the receiving bank (of the wire transfer).<br\/>Since A is conducting the transaction on behalf of B&#8217;s customer via the correspondent relationship deemed suspicious, it is the transaction in Country A by the correspondent bank that files the STR. Also, per the regular process, it is on the transaction, not the bank, that the STR is filed against.<\/div><input type='button' class='showchecked' style='margin: 10px 0;' onclick='showanswer1(23,this)' id='btn-23' value='See Answer'  \/><input type='hidden' id='questionType23' value='radio' class=''><\/div><div class='watu-question' id='question-24'><div class='question-content'><p><strong>QUESTION 270<\/strong><br \/>The anti-money laundering compliance officer for a small money transmitter has several agent locations in the same geographic area in the United States. The customers are immigrants from Country A and the majority of the funds are remitted to Country A.<br \/>In a meeting with one of the agents, it is recently discovered that two new customers have been coming in three times a week and sending funds to the same recipient in Country B. Each cash transaction always totals exactly $8,000.<br \/>What should alert the agent to possible money laundering activity by the two customers?<\/p>\n<\/div><input type='hidden' name='question_id[]' value='13213' \/><div class='watu-questions-wrap '><input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51105' \/><div class='watu-question-choice'><input type='radio' name='answer-13213[]' id='answer-id-51105' class='answer answer-24 php-answer-label answerof-13213' value='51105' \/>&nbsp;<label for='answer-id-51105' id='answer-label-51105' class='php-answer-label answer label-24'><span class='answer'>They remit funds to the same person<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51106' \/><div class='watu-question-choice'><input type='radio' name='answer-13213[]' id='answer-id-51106' class='answer answer-24 js-answer-label answerof-13213' value='51106' \/>&nbsp;<label for='answer-id-51106' id='answer-label-51106' class='js-answer-label answer label-24'><span class='answer'>They have been coming in three times a week<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51107' \/><div class='watu-question-choice'><input type='radio' name='answer-13213[]' id='answer-id-51107' class='answer answer-24 js-answer-label answerof-13213' value='51107' \/>&nbsp;<label for='answer-id-51107' id='answer-label-51107' class='js-answer-label answer label-24'><span class='answer'>It is unusual for customers to remit to Country B<\/span><\/label><\/div>\n<input type='hidden' name='answer_ids[]' class='watu-answer-ids' value='51108' \/><div class='watu-question-choice'><input type='radio' name='answer-13213[]' id='answer-id-51108' class='answer answer-24 js-answer-label answerof-13213' value='51108' \/>&nbsp;<label for='answer-id-51108' id='answer-label-51108' class='js-answer-label answer label-24'><span class='answer'>Each of their transactions is just below the cash 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