Prepare Top ACAMS CAMS Exam Study Guide Practice Questions Edition [Q21-Q41]

Prepare Top ACAMS CAMS Exam Study Guide Practice Questions Edition

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NEW QUESTION 21
An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into the account followed by corresponding ATM withdrawals from a country bordering a conflict zone.
How should the bank respond?

A. Block any further activity
B. File a suspicious transaction report
C. Initiate an investigation into the activity
D. Contact the customer if the transaction activity continues

Answer: C

NEW QUESTION 22
You are building an Azure Analysis Services cube for your AI deployment.
The source data for the cube is located in an on premises network in a Microsoft SQL Server database.
You need to ensure that the Azure Analysis Services service can access the source data.
What should you deploy to your Azure subscription?

A. a network gateway
B. a site-to-site VPN
C. a data gateway
D. Azure Data Factory

Answer: C

Explanation:
From April 2017 onward we can use On-premises Data Gateway for Azure Analysis Services. This means you can connect your Tabular Models hosted in Azure Analysis Services to your on-premises data sources through On-premises Data Gateway.

References:
https://biinsight.com/on-premises-data-gateway-for-azure-analysis-services/

NEW QUESTION 23
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are developing an application that uses an Azure Kubernetes Service (AKS) cluster.
You are troubleshooting a node issue.
You need to connect to an AKS node by using SSH.
Solution: You change the permissions of the AKS resource group, and then you create an SSH connection.
Does this meet the goal?

A. No
B. Yes

Answer: A

Explanation:
Instead add an SSH key to the node, and then you create an SSH connection.
References:
https://docs.microsoft.com/en-us/azure/aks/ssh

NEW QUESTION 24
You are developing an application that will perform optical character recognition of photos of medical logbooks.
You need to recommend a solution to validate the data against a validated set of records.
Which service should you include in the recommendation?

A. Text Analytics
B. Master Data Services (MDS) in Microsoft SQL Server
C. Bing Autosuggest
D. Azure Data Catalog

Answer: B

Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/sql/master-data-services/validation-master-data-services?view=sql-server-
2017

NEW QUESTION 25
What is the goal of the Egmont Group in providing a forum for Financial Intelligence Units (FIUs) around the world?

A. To improve communication with law enforcement in the fight against money laundering and the financing of terrorism and to foster the implementation of domestic programs in this field.
B. To improve cooperation with state and federal governments in the fight against money laundering and the financing of terrorism and to foster the implementation of domestic programs in this field.
C. To improve international laws to combat money laundering and the financing of terrorism and foster the implementation of domestic programs.
D. To provide a forum for FIUs to improve cooperation in the fight against money laundering and the financing of terrorism and to foster the implementation of domestic programs in this field.

Answer: D

NEW QUESTION 26
A customer comes into a financial institution and deposits a large amount of cash. He has never done that before. When asked about the deposit, he indicates he recently sold a used car and received cash.
He does not trust forms of payment and is wary of counterfeit money orders. What should the bank do?

A. The institution should close the account before another issues arise
B. The bank has received a plausible explanation, so it should do nothing
C. While the explanation may be plausible, the institute should nonetheless file a Suspicious Transaction Report to protect itself
D. While the explanation appears plausible, the institution should, for a period of time, monitor the account for cash transactions and suspicious activity

Answer: D

NEW QUESTION 27
Which two services should be implemented so that Butler can find available rooms on the technical requirements? Each correct answer presents part of the solution.
NOTE: Each correct selection is worth one point.

A. QnA Maker
B. Azure Search
C. Content Moderator
D. Bing Entity Search
E. Language Understanding (LUIS)

Answer: A,E

Explanation:
Explanation/Reference:
References:
https://azure.microsoft.com/en-in/services/cognitive-services/language-understanding-intelligent-service/

NEW QUESTION 28
In some instances, a financial institution may receive a warrant from law enforcement authorities to search its premises. A search warrant is a grant of permission from a court for a law enforcement agency to search certain designated premises and seize specific categories of items or information. Generally, what is the required threshold for the requesting agency to establish in order to obtain a search warrant of a financial institution?

A. Clear and convincing proof
B. Reasonable belief
C. Probable cause
D. A preponderance of the evidence

Answer: C

Explanation:
Explanation
Explanation/Reference:
A search warrant is a grant of permission from a court for a law enforcement agency to search certain designated premises and to seize specific categories of items or documents. Generally requesting agency is required to establish that probable cause exists to believe that evidence of a crime will be located. Warrant is authorized based on information contained in an affidavit submitted by a law enforcement officer.

NEW QUESTION 29
A customer brings $15,000 worth of chips into a casino and plays various games. The customer redeems all the remaining chips and requests a wire transfer of the proceeds to an unrelated third party.
What are two red flags that indicate money laundering? (Choose two.)

A. Bringing $15,000 worth of chips into the casino
B. Playing various games before cashing out
C. Requesting a wire transfer to an unrelated third party
D. Customer redeeming all remaining chips

Answer: C,D

NEW QUESTION 30
Following a recent exercise which explained how a correspondent banking operation could be used by money launderers, an anti-money laundering specialist decided to re-write the due diligence procedures for entering into agreements with foreign financial institutions. Which of the following information should be included to establish a rigorous "Know Your Respondent" procedure?
1.Respondent's management, nature of license, and major business activity.
2. Computer equipment and software capability.
3. The quality of supervision in the home country.
4. Respondent's location, in particular the existence of a real physical presence.

A. 1, 2, and 4 only
B. 2, 3, and 4 only
C. 1, 3, and 4 only
D. 1, 2, and 3 only

Answer: A

NEW QUESTION 31
You plan to design an application that will use data from Azure Data Lake and perform sentiment analysis by using Azure Machine Learning algorithms.
The developers of the application use a mix of Windows- and Linux-based environments. The developers contribute to shared GitHub repositories.
You need all the developers to use the same tool to develop the application.
What is the best tool to use? More than one answer choice may achieve the goal.

A. Azure Machine Learning Studio
B. Azure Notebooks
C. Microsoft Visual Studio
D. Microsoft Visual Studio Code

Answer: A

Explanation:
Explanation/Reference:
References:
https://github.com/MicrosoftDocs/azure-docs/blob/master/articles/machine-learning/studio/algorithm-choice.md

NEW QUESTION 32
When the minimum CDD standards of the home and host countries differ, the offices in the host countries should follow which requirements?

A. The minimum required
B. Local rules and regulations
C. The higher standard of the two
D. The CDD standards required by the home country

Answer: C

NEW QUESTION 33
What are three indicators of money laundering associated with using electronic funds transfers? Choose 3 answers

A. Regular and frequent transfers from the account of a large company said to be payment for goods bought on credit
B. Funds transfers to or from a financial secrecy haven without an apparent business reason
C. Payment or receipts with no apparent link to legitimate contracts, goods or services
D. Funds transfers are received or sent from the same person to or from different accounts

Answer: B,C,D

NEW QUESTION 34
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are deploying an Azure Machine Learning model to an Azure Kubernetes Service (AKS) container.
You need to monitor the scoring accuracy of each run of the model.
Solution: You configure Azure Application Insights.
Does this meet the goal?

A. No
B. Yes

Answer: B

Explanation:
Explanation/Reference:
References:
https://docs.microsoft.com/en-us/azure/machine-learning/service/how-to-enable-data-collection
https://docs.microsoft.com/en-us/azure/machine-learning/service/how-to-enable-app-insights

NEW QUESTION 35
What describes the Black Market Peso Exchange money laundering method?

A. A method primarily used by narcotics traffickers to transfer value back to the source country
B. An undercover technique to identify politically exposed persons who may assist money launderers
C. A method used to smuggle dollars or pesos across that border from the U.S. to Mexico, and vice versa
D. The best known money laundering method used by known terrorists

Answer: C

NEW QUESTION 36
Why are Money Services Business (MSBs) frequently accused of being high risk for money laundering?

A. MSBs are subject to regulatory scrutiny which varies greatly from country to country
B. MSBs generally charge lower commission rates than banks charge making them attractive to criminals
C. A MSB should be used to hide money from a regulated entity
D. MSBs can route funds to more high risk countries than banks

Answer: B

NEW QUESTION 37
Which two actions should Financial Intelligence Units (FIUs) take when submitting a request to another FIU? (Choose two.)

A. Provide feedback on how the information was used
B. Send the same request to all FIUs
C. Disclose the reason and purpose for the request
D. Make best efforts to provide complete and factual information

Answer: C,D

NEW QUESTION 38
What do the Financial Action Task Force (FATF) mutual evaluations of each member assess?

A. If the member has a large enough economy to maintain its membership
B. If the member has made any suggestions for updates to the FATF Recommendations
C. The member's ability to send a representative to the plenary sessions
D. The levels of implementation of the FATF Recommendations

Answer: D

NEW QUESTION 39
Which three areas do FATF's 40 recommendations cover? Choose 3 answers

A. The criminal justice system
B. International Cooperation
C. Prescriptive sentences for predicate offenses
D. Financial systems and their regulation

Answer: B,C,D

NEW QUESTION 40
Which statement describes the relationship between the internal audit function and compliance?

A. In order to maintain independence, the auditors should not discuss internal audit findings with compliance management
B. The internal audit methodology should include an assessment of compliance risk
C. An internal audit program of the adequacy of the bank's compliance function should be established, but should not include review of transactions
D. The compliance function and internal audit function should be combined

Answer: B

NEW QUESTION 41
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