ACAMS Advanced CAMS-Audit Certification - Advanced-CAMS-Audit Exam Practice Test

A. Enhance the ongoing employee training program so that employees are aware of their respective AML roles and responsibilities.

B. Engage a qualified third party to review the deficiencies and assist in developing a remediation plan.

C. Initiate a request for proposals for new AML systems and solutions.

D. Change the designated head of AML compliance and request the newly appointed head of AML compliance produce a remediation plan.

A. Annual premium (S)

B. Age (Years)

C. Type of customer (Trust. Company Individual)

D. Risk factors (Y/N. if Y please specify)

E. Residence (Country)

F. Photo ID taken (Passport Driver's License. Other)

A. Staff attendance is incomplete because the board of directors is not part of the staff required to attend the periodic trainings, and there is no other specially designed AML training for the board.

B. Staff attendance is complete because the training is mandatory for staff in the business, operations compliance and senior management whose duties involve knowledge of AML controls and processes.

C. Staff attendance is complete because all staff in the institution are required to attend the AML training as part of the staff onboarding process.

D. Staff attendance is incomplete because the compliance officer or the delegates are not part of the staff facilitating the 3-hour periodic AML training.

A. Re-screen all transactions over the period of time when the updated sanction lists were not uploaded against the current sanctions lists.

B. Perform a security risk and access assessment on the sanction screening tool to ensure more timely sanctions lists are uploaded.

C. Periodically monitor the sanctions lists uploaded by the screening tool to ensure the most up-to-date lists are in the system.

D. Re-screen all transactions based on the sanctions lists that were active at that time but not uploaded.

A. File a suspicious activity report as the previous riskrating was not correct.

B. Deploy automated monitoring toots to efficiently peruse the customer's KYC information and assure that the customer's KYC risk rating is correct.

C. Conduct enhanced due diligence and enhanced ongoing monitoring of the customer relationship.

D. Review and document the details of the customer s asset-holding arrangement.

E. Review the customer risk profile every two years as with any other customers.

F. Designate the account as a PEP-account.

A. Finding 5

B. Firming 2

C. Finding 7

D. Finding 4

A. Sanctions fists that are updated on a periodic basis following an annual risk assessment

B. Backlogs and delays in maintaining client files in accordance with the organization's policy

C. KYC requirements being considered a low priority not designed into business processes and implemented after product launch

D. KYC processes not being integrated into the business and associated application systems

A. Confirm with client onboarding teams whether or not high-risk customers exist.

B. Ask the account officers whether the CDD and KYC information provided is correct.

C. Confirm if suspicious activity reports were filed following escalation for non-compliance with the CDD and KYC process.

D. Review the accuracy of the gap analysis of the CDD and KYC policies and procedures against local regulations.

E. Evaluate the results of the sample testing of new and existing customer relationships for adherence to the CDD and KYC process.

A. attendees have completed post-course surveys.

B. interns and third parties are not included.

C. ethics training has been delivered to senior management.

D. tailored training has been provided to AML and CFT staff.