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

A. Information technology security risk assessment of the bank's COD risk rating solution B. Report of independent audit conducted the previous year C. A document prepared to identify the inherent risk associated with a bank's products and services D. Independent model validation and testing report of the bank's transaction surveillance systems

A. Financial results reporting B. Cryptocurrency threat assessment C. Mandatory training requirements D. Credit risk assessment E. Suspicious activity reporting F. Documentation record keeping

A. Request organizational charts, assess data for sample testing and provide an initial report B. Request the scheduling of preliminary discussions with management and request a walk-through of key processes C. Request data regarding financials, schedule planning meeting and perform sample testing D. Request management overview of the organization conduct analytical review of processes and issue findings

A. Type of customer (Trust. Company Individual) B. Risk factors (Y/N. if Y please specify) C. Photo ID taken (Passport Driver's License. Other) D. Age (Years) E. Residence (Country) F. Annual premium (S)

A. Donating funds to a local chanty which relates to the organization being audited B. Working with staff to design and implement key controls C. Presenting at a local audit industry event where best practices are discussed D. Attending internal meetings where key risk indicators are discussed

A. Procedures should be enhanced to require that all clients are subject to regular negative media screening. B. Evidence of negative media screening retained in client files must comprise negative reports only. C. Privacy regulation requires that clients who have a print copy of the adverse media m their files should be notified. D. All staff members should be provided with additional training to ensure they adhere to standard procedures. E. Identification of relevant reports via adverse media searches must be escalated for an assessment for materiality.

A. Initially sample 10% of new clients onboarded. B. Evaluate quality assurance processes tor onboarding new clients. C. Request a list of high-risk clients onboarded from management. D. Review the CDD onboarding policies and procedures to determine the criteria for selection.

A. Strict CDD rules promote high ethical and professional standards in the financial industry. B. There is a regulatory requirement for the audit to update the AML risk assessments on a continuous or specified periodic basis. C. Audits need to approve the implementation of the controls and review testing outcomes. D. Improper identification and assessment of risk creates deficiencies resulting in an overall weakened AML compliance program.

A. Discuss with the senior manager to establish the risk appetite. B. Issue a finding that requires the completion of a business-level risk assessment. C. Test the accuracy of the mathematical aggregation of the risk assessments. D. Accept the risk conclusions provided by the senior manager.