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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q399-Q404):

NEW QUESTION # 399
Which situation involving a vendor presents increased AML and/or sanctions risk to an organization?

A. The vendor provides services to end users located in an area subject to economic sanctions
B. The vendor is organized as a privately held company
C. The vendor's sales representative was a refugee from a sanctioned jurisdiction as a child
D. The vendor has no individuals that own or control more than 10% of the company

Answer: A

NEW QUESTION # 400
A law enforcement action alleged that on several trading days over the course of two months, defendants engaged in a series of copper gold, crude oil. and natural gas futures transactions on an electronic trading platform One defendant repeatedly bought future contracts at low prices from the other, and then immediately sold them back at higher prices. As a result, one defendant effectively pocketed the same amount as the other lost even though there were no changes in the open positions held by either defendant.
What is a name for this typology?

A. Bid-ask spread
B. Reverse flip
C. Wash trading
D. Short position

Answer: C

NEW QUESTION # 401
An international bank is investigating a payment requested by one of its correspondent relationships that generated an alert in the automated transaction monitoring system. The payment originated from a corporation located in Hong Kong and the final beneficiary is an individual located in New York.
Which steps should the bank take first to address the alert? (Select Three.)

A. Send a 314(b) request to the corporation's bank in Hong Kong
B. Confirm that neither the beneficiary nor the originator are sanctioned parties
C. Request supporting documents, including invoices and contracts to confirm the purpose of the payment
D. Check for negative news in public sources on the sender and receiver
E. Call the receiving individual to review identity verification documents

Answer: B,C,D

NEW QUESTION # 402
It Is important for financial institutions (FIs) to be aware of anti-financial crime (AFC) and sanctions regulatory regimes in other jurisdictions in order to.

A. ensure the F1 can manage business relationships in jurisdictions with stricter or more lenient regulations than their home country, allowing for operational flexibility
B. maintain compliance with the AFC and sanctions requirements of all countries where the F1 operates or has business relationships and to avoid penalties for violations in foreign jurisdictions.
C. compensate for the limited applicability of AFC and sanctions regulations on cross-border transactions and their reduced relevance for domestic operations in other jurisdictions.
D. ensure that sanctions regimes are applied selectively based on the regulatory standards of the countries where business activities occur, focusing primarily on aligned jurisdictions

Answer: B

NEW QUESTION # 403
Tax evasion is:

A. A specialized accounting discipline focused on lawful tax planning
B. The practice of minimizing tax liability by exploiting loopholes or unintended interpretations of tax law
C. The non-payment or under-payment of taxes, usually by deliberately making a false declaration or no declaration to tax authorities
D. A provision that reduces taxable income as an itemized or standard deduction

Answer: C

Explanation:
Tax evasion is a criminal offense and is widely recognized as a predicate offense to money laundering under FATF standards and national AML laws.
It involves the deliberate non-payment or under-reporting of taxes, often through false declarations, concealment of income, or failure to file required tax returns. The key distinction is intentional deception of tax authorities.
In contrast, tax avoidance refers to lawful strategies used to minimize tax liability within the boundaries of the law. Deductions and tax planning activities are legal and do not constitute tax evasion.
Because tax evasion generates illicit proceeds, it is directly relevant to AML/CFT frameworks, and financial institutions must be alert to indicators of tax-related financial crime.

NEW QUESTION # 404
......

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Exam ACAMS CAMS7 Flashcards & CAMS7 Updated Testkings

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Pass Guaranteed ACAMS CAMS7 - Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Updated Exam Flashcards

ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q399-Q404):

CAMS7 Practice Guide Give You Real CAMS7 Learning Dumps

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