Month End Sale - Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: xmaspas7

Easiest Solution 2 Pass Your Certification Exams

Advanced-CAMS-Audit ACAMS Advanced CAMS-Audit Certification Exam Free Practice Exam Questions (2025 Updated)

Prepare effectively for your ACAMS Advanced-CAMS-Audit Advanced CAMS-Audit Certification Exam certification with our extensive collection of free, high-quality practice questions. Each question is designed to mirror the actual exam format and objectives, complete with comprehensive answers and detailed explanations. Our materials are regularly updated for 2025, ensuring you have the most current resources to build confidence and succeed on your first attempt.

ACAMS Advanced-CAMS-Audit Premium Access     Download Demo    
Page: 2 / 2
Total 90 questions

During the ongoing due diligence process the company becomes aware that the customer is holding personal assets for a politically exposed person (PEP). What should the auditor recommend to enhance the control environment for this customer relationship? (Select Three.)

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.

Designate the account as a PEP-account.

D.

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

E.

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

F.

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

Why is it crucial for the audit plan to consider the effectiveness of the AML risk assessment controls and risk mitigants?

A.

Audits need to approve the implementation of the controls and review testing outcomes.

B.

Improper identification and assessment of risk creates deficiencies resulting in an overall weakened AML compliance program.

C.

There is a regulatory requirement for the audit to update the AML risk assessments on a continuous or specified periodic basis.

D.

Strict CDD rules promote high ethical and professional standards in the financial industry.

An auditor should present exceptions identified during testing to the auditee after.

A.

preliminary observation of exceptions.

B.

final audit report issuance

C.

performance of additional testing.

D.

analysis of likelihood and impact.

Which key elements of testing methodology should be documented? (Select Three.)

A.

Documentation requirements of test results supporting the conclusion

B.

Sampling method applied to select an appropriate sample size

C.

Planned expansion or changes in the business profile of the organization

D.

Test objectives and population selection criteria to mitigate the inherent risk in the operational unit

E.

Elements contributing to the inherent risk of the organization

F.

Relevant testing techniques subject to the nature and size of the test population

Which action would an auditor take to evaluate design effectiveness?

A.

Check whether the policies and procedures are consistent with the authorities' regulations.

B.

Carry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.

C.

Confirm that alerts in transaction monitoring have been properly escalated or waived.

D.

Confirm that customer records are being kept in accordance with policies and procedures.

Which key risk indicator should the internal auditor consider when reviewing correspondent banking activities?

A.

Volume of transaction activity referred by the respondent bank.

B.

Size and stature of a respondent bank's operations in its home country.

C.

Number of respondent banks located in higher risk jurisdictions.

D.

Number of correspondent banking relations terminated.

Which is considered a minimum requirement in a customer identification program?

A.

Transaction reporting procedures used to report suspicious transactions to the regulator

B.

Transaction monitoring procedures that specify the information that will be retained in each transaction

C.

Account opening procedures that specify the information that will be obtained from each customer

D.

Customer enhanced due diligence procedures used to identify unusual transactions

ACAMS Advanced-CAMS-Audit Premium Access     Download Demo    
Page: 2 / 2
Total 90 questions
Copyright © 2014-2025 Solution2Pass. All Rights Reserved