Acams CAMS Quiz 4 Topic 4 Questions 16-20

Question: 1

When requested by law enforcement via legal process to provide records or documentation, what should the officers of financial institution do?

AProvide all records and documents the officer believes would be pertinent to the law enforcement agent's investigation

BRefuse to provide any records or documents until the agent narrows the scope of the request down to what he or she actually needs

CNot act on the legal process until the bank officer has contact w4h the agent and learns what the agent is investigating

Dif there is no basis for contesting the request, provide what is requested

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Question: 2

Which activity is most likely to facilitate money laundering through on-line systems with inadequate controls?

AConducting a large volume of transactions

BProviding continuous worldwide access

CConducting anonymous transactions

DConducting large value transactions

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Question: 3

How can dealers in high-value items be at risk for money laundering?

AThe value of precious metals such as gold and silver is constantly fluctuating.

BCarrying large amounts of gems of high value is physically easy

CPaperwork is not required to ship precious metals and gems

DDrug dealers prefer cash to precious metals and gems

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Question: 4

What should a compliance officer do during an ongoing investigation into a client's activities by a competent authority?

AEnsure communication with regulatory and law enforcement authorities is conducted only through the Board of Directors

BCommunicate only in writing regulatory and law enforcement authorities in line with applicable local laws

CCommunicate with regulatory and law enforcement authorities in line with applicable local laws

DOnly provide information that is specifically and directly requested

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Question: 5

What should a bank focus on to ensure on-going compliance with its AML program?

AIt should ensure that it develops and provides on-going targeted training of all current and new employees

BIt should subject all new employees to criminal background checks before being hired

CIt should review and update its transaction monitoring system

DIt should ensure that the regulators have reviewed and have approved the bank's AML program

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Acams CAMS Quiz:4 Topic:4 Questions:16-20