Tag - CAMS-RM exam

A critical component of the AML/CTF compliance program is transaction monitoring, which of the following can be included during monitoring transactions?A . Average time to analyze each alert by backend unit B. The backlog of customers data C. Number of alerts raised to case analyzed by a front line unit...

Inherent Risk Factors have three types, high, medium and, low. Which of the statements is NOT a low inherent risk?A . Normal retail domestic products such as checking and savings accounts B. No exposure to high-risk jurisdictions C. No face to face contact at account opening for new customers D....

What should be included in the risk governance framework that covers all the risks relevant to the financial institution?A . Credit, interest, price, SWOT, liquidity B. Credit, interest, price, operational, liquidity C. Credit, interest, price, operational, salary D. None of the aboveView AnswerAnswer: B Explanation: The risk governance framework should...

There are assigned people to whom periodic reports are provided about the status of model risk management, who are these people specifically?A . Risk management committee, the board of directors, senior management and the audit committee B. Risk management committee, the board of directors, senior management and administrators C. Risk...

What does “Basel Core Principles for Effective Banking Supervision (bcbs230)” state?A . Supervisors shall perform regular and independent validation and testing of the models. B. Banks' boards and senior management understand the limitations and certainties relating to the input of the models and the risk inherent to other banks. C....

Which of the following statements is the responsibility of the Model Risk Committee?A . Assisting the administrators in fulfilling their obligations with respect to all the models used by the financial institution. B. Copying the information about all the models stored in the model inventory. C. Providing reports to the...

Transaction monitoring operations comprise a committee, policy and procedures, department and data management. What does a transaction monitoring committee do?A . The committee is following the policy and detailed procedures for the management of transaction monitoring for the financial institution. B. The committee is responsible for managing the global standards...

Inherent Risk Factors include Inherent Risk Rating, under this is a high inherent risk, which of the following statements that do not apply as a high inherent risk?A . Cross border or international wire transfers B. Private banking services C. Trade finance D. Virtual assets and cryptocurrencies.View AnswerAnswer: D Explanation:...

What are the two categories of the sanctions and watch list?A . High-risk and low-risk lists B. Vulnerable and non-vulnerable lists C. Black and white lists D. Peak and off-peak listsView AnswerAnswer: C Explanation: The sanctions and watch lists fall under two categories are black and white lists.

Which of the statements is true about internal sanctions screening controls?A . Taking the list of sanctioned names and converting them to the identical format of the customer file of the financial institution. B. Training staff in the intricacies of international sanctions. C. Quarterly testing and validations of the sanctions...