(ACAMS) Authentic CTMA Dumps - Reduce Your Chances of Failure

(ACAMS) Authentic CTMA Dumps – Reduce Your Chances of Failure

Jonnie Karnath2023-04-18T14:13:34+00:00

Certspots is a leading provider of CTMA dumps designed to help candidates prepare for the exam and increase their chances of success. We offer authentic and up-to-date CTMA dumps that are designed to simulate the actual exam environment, so candidates can get a feel for the types of questions they will encounter on the day of the exam. By practicing with Certspots authentic CTMA dumps, candidates can evaluate their knowledge and skills, identify areas where they need to improve, and develop strategies for answering exam questions quickly and accurately. This will not only reduce their chances of failure but will also help them perform better on the actual exam.

Page 1 of 5

1. Which part of a Financial Instituion usually makes the recommendation to close any business or accounts as the full responsibility of the client usually falls on them?

Internal Audit

Front Office/Relationship Manager

Financial Crime Compliance

Regulators

2. In Transaction Monitoring what are some reasons below that shows that over time the number of True Alerts will improve for a Transaction Monitoring system? (SELECT 2)

Transaction Monitoring software companies update their software

Revising Rules

Evaluating Alert Productivity

Improved training for AML Analysts

3. Johnny has brokered a deal to sell 100 missiles for $2 each. They will be shipped from Australia to Panama next week.

What is this an example of?

Ghost-Shipping

Over-Invoicing

Under-Invoicing

Good Business

4. In the traditional process of generating an alert for transaction monitoring. the process usually foes 1. Data is monitored 2.___________________ 3, Compared against threshold, 4. Alert generated if conditions are met.

AML information extracted

KYC information extracted

Financial Crime information extracted

Customer Banking information extracted.

5. Does the analyst need to document every stage of the Alert Investigation?

True

False

6. For an institution in this space Controls such as Transaction Monitoring are put in place in order to manage __________ Risk?

Operational Risk

Legal Risk

Financial Crime Risk

Liquidity Risk

Reputational Risk

7. What is the big difference what transaction monitoring does and what name screening does?

Name Screening is an ongoing process

Transaction monitoring is used to predict customer transactions

Transaction Monitoring is performed after onboarding

Name screening is performed after onboarding.

8. Transaction Monitoring Controls are designed to? (SELECT 3)

Assist

Manage Risk

Generate behavioral scenarios

Generate Alerts

Based on Customer behavior

9. A Transaction Monitoring report is usually referred as an __________

Repository

Analysis

Report

Alert

10. Some Financial Service products have inherently higher risk, Which below is one of those?

Credit

Private Wealth/Banking

Deposits

Fixed Income.

Page 2 of 5

11. Who sets the Beneficial Owner percentage threshold?

Jurisdiction

The Financial institution

The Financial Intelligence Unit

The Financial Regulator

12. Transaction Monitoring is one part of the risk-based approach.

What are the other two components of that risk based approach below

Anti-Money Laundering

KYC

Customer Due Diligence

Financial Crime

13. What are some legal reasons that trusts can be used? (SELECT 3)

Tax Avoidance

Succession and Estate Planning,

Tax Evasion

Promote good causes

Transfer of ownership at speed.

14. John has been assigned a new alert from a client regarding potential structuring, What elements of the case should he look at first ass part of the investigation process? (SELECT 3)

Prior business description

Prior Alerts

Prior Transactions

Prior SARS

Prior relationship managers

15. For a manual trigger alert, if the FO are able to provide information, documentation that mitigate the risk, is this enough to cancel the alert?

Yes

Depends

16. What is the method that changes the methodology and variables in the Transaction Monitoring Process?

Turning

Changing

Tuning

Settings

17. A shell company or corporation is a company that, at the time of incorporation, has no significant? (SELECT 2)

Assets.

Employees.

Funds.

Operations.

18. Risk Controls fall into which of the below categories? (SELECT 3)

Negative

Detective

Preventive

Corrective

Conversive

19. Transaction Monitoring is what line of defense?

First Line of Defense (FLOD)

Second Line of Defense (SLOD)

Third Line of Defense (TLOD)

20. Transacation Monitoring became much more prevelent and was built out because of an increase in?

Financial Crime

Terrorism

AML regulations

Sanction Regulations

Page 3 of 5

21. Risk Controls must be? (SELECT 3)

Normal

Appropriate

Specific

Regulated

Risk-based

22. What are the three types of Risk Prevention?

Preventative, Detective, Corrective

Preventative, Detective, Corresponsive

Detective, Corrective, Proactive

Proactive, Detective Corrective

23. The appropriate controls that should be put in place to mitigate and reduce them with the risk based approach include? (SELECT 3)

Accurate

Appropriate

Risk based

Assertive

Specific

24. Designated non-financial businesses and professions are risk for Financial Crime because?

They can collude with criminals to disguise financial crime

Not all Designated non-financial businesses and professions are high risk

These industries are accepting and exchanging cash on a often case?

These industries and professions are generally unregulated

25. What are some contributory factors of an alert being triggered in the Transaction Monitoring Process? (SELECT 3)

Source of data

Source of controls

Threshold

Timely reporting

Risk Levels

26. What are the issues surrounding the insurance industry which make it susceptible to Financial Crime? (SELECT 2)

Large volume of funds flowing in and out

Insurance companies don't file Suspicious Activity Reports

It's difficult to layer funds from the use of an insurance product.

Highly flexible investments that may be liquidated with short notice

27. An organization when faced with the below must report which?

If you have a bad feeling about the client but haven't looked at the information, this is still ok.

Every customer should be investigated for financial crime

If they suspect a financial crime has been committed.

If they suspect a financial crime has been committed, but only if they have the time and resources to do so.

28. Yanet has gone to the branch to change her large bills into smaller currency. Is this a red flag or is this alert worth investigating further?

True

False

29. Camilla is working on a risk- based approach as an analyst at her organization. She has been told that she needs to document even if she doesn't find anything.

What does this include? (SELECT 3)

what vendors used.

Logic

Search String

Risk

Keywords

30. Alerts are able to be triggered by external inquiries. The types of organizations involved in external inquiry are? (SELECT 2)

Other Financial Institutions

Journalists and/or Media

Law Enforcement

Regulators

Page 4 of 5

31. Frank wants to reduce contact with a client and not provide any services while his bank goes through the SAR process that was done on this client last month. Can Frank legally do this?

Yes

Depends on scenario

32. The percentage and types of alerts that become cases will vary based on institution type, client base, jurisdiction, etc? (TRUE OR FALSE)

True

False

33. What is the process of making adjustments to the system to ensure that the alerts are indeed indicative of unusual behavior?

Artificial Intelligence

Machine Learning

Tuning

Data Analysis

34. Automated alerts are able to present Transaction Monitoring professionals with useful intelligence only when? (SELECT 2)

if every alert gets to be escalated.

The thresholds have not been set.

Systems are correctly maintained.

Optimally tuned on a an ongoing basis.

35. 1.John has reached out to the client asking for a Formal I.D in the periodic reassessment after an alert caused the KYC file to be refreshed. The client has email back a copy of their drivers licence, Is this acceptable?

Yes

Depends

36. Where is data for Transaction Monitoring usually sourced from? (SELECT 2)

Public vendor

Payments Channel

Core Banking System

KYC file

37. Bill is looking at the ownership structure for a client, Which one of the owners below is the Control Party?

John LLC - 10%

Janet - 15%

Billy - 27%

Ivette = 18%

38. Many automated alerts generated by the banks Transaction Monitoring system are usually not suspicious?

Yes

Depends on the type of bank and jurisdiction.

39. What are some elements of a Shell Company? (SELECT 2)

No assets or operations

Sometimes legitimate but low-risk

Sometimes facilitate money laundering

Appear legitimate and mask ownership

40. The purpose of Transaction Monitoring in organizations is to ______________?

Manage Client Risk

Manage Financial Crime Risk

Manage Compliance Risk

Manage Transaction Risk

Page 5 of 5

41. Which has lower inherit risk from channels?

Accessing an account online

Face-face in branch account access

Access at all hours of the day

Access through a intermediary

42. What is an example of reputational risk below?

Costs associated with having to increase the Anti-Money Laundering Surveillance at your company

Terrorists were caught using the bank to fund an attack in the Middle East

The organization operates in a country that is on a FATF non-compliance list.

Paying back customers after the institution realized they overcharged them on fees.

43. Third Party Payment Processors (TPPP) are Non-Bank, or third-party, Payment Processors are financial institution customers that provide payment processing services to merchants and other business entities, typically initiating transactions on behalf of merchant clients that do not have a direct relationship with the Payment Processor’s financial institution.

What risk is TPPP usually?

Low

Medium/Moderate

High

44. Letters of Credit are a well known __________ Product?

Finance

Credit

Trade Finance

Fixed-Income

45. It is important to recognize that no matter how strong the risk mitigation and management program is, each business will still have some residual financial crime risk. The equation for this is Residual Risk =

Controlled Risk - Inherent Risk = Controlled Risk

Inherent Risk + Controlled Risk = Residual Risk

Inherent Risk - Controlled Risk = Residual Risk

Controlled Risk - Inherent Risk = Residual Risk

46. Which of the below can and need to be searched for Sanctions screening (SELECT 3)

Boats

Individuals

Shipping Vessels

Cars

Planes

47. What is a legal reason to use a shell company

Common legal structure

Transfer Assets Easily

Avoid Tax

Fluid and not secure.

48. When one bank acts for other bank in another by providing banking services in another jurisdiction, this is known as?

Private Banking

Trade Finance

Correspondent Banking

Virtual Currency

Facebook Twitter LinkedIn Google + Email