Free ACAMS CAMS7 Exam Dumps Questions & Answers

Money laundering has social and economic impacts, especially within developing countries. A high volume of money laundering in a country may: (Select Two.)

• A.Dissuade foreign investment.
• B.Lower the employment rate.
• C.Dissuade government tax incentive programs
• D.Reduce confidence in the country's financial sector.
• E.Reduce volatility in exchange and interest rates.

The primary roles of a Country's Financial Intelligence Unit (FIU) include: (Select Two.)

• A.enacting legislation regarding the operations of financial institutions.
• B.conducting examinations of financial institutions to ensure compliance with anti-money laundering regulations.
• C.facilitating the exchange of information between the public and private sectors.
• D.engaging in providing financial services, including banking and investment activities, to the public and private sectors
• E.collaborating with law enforcement agencies, financial institutions, and other stakeholders to detect and prevent Illicit financial activities.

A credit institution has been served with a preliminary findings report highlighting major deviations from AML obligations and stating that it faces the possible withdrawal of its banking license.
Which authority could have issued the report?

• A.Financial Action Task Force (FATF)
• B.A banking sector self-regulatory body
• C.Law enforcement authority
• D.AML supervisory authority

Which of the following risk factors are commonly associated with money laundering in insurance products? (Choose two.)

• A.Using cryptocurrencies or other non-fiat currencies to fund an insurance policy
• B.Surrendering a policy early to liquidate funds
• C.Using a credit card to purchase an insurance policy
• D.Focusing excessively on the investment performance of an insurance product

A committee should have a clear and precise definition of its mandate to ensure effective function and governance, set out in a document often referred to as the Terms of Reference (ToR). Which key features are generally included in the Terms of Reference? (Select Three.)

• A.Composition and structure
• B.Delegation of authority
• C.Organization chart of the attendees
• D.Company culture and values
• E.Extent of power and decision-making abilities