Advanced CAMS Risk Management CAMS-RM Real Dumps

test2023-02-01T06:23:48+00:00

The newly available CAMS-RM exam is a comprehensive evaluation of an individual’s understanding of these critical areas. To aid in your preparation, our team has created Advanced CAMS Risk Management CAMS-RM Real Dumps that cover the key concepts and topics tested on the official exam. By taking our Advanced CAMS Risk Management CAMS-RM Real Dumps, you will gain confidence in your ability to pass the official exam and become a certified Advanced CAMS Risk Management professional. With its comprehensive coverage of the key topics, realistic testing experience, and immediate feedback, it provides a complete solution for your CAMS-RM exam preparation.

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1. What does “Basel Core Principles for Effective Banking Supervision (bcbs230)” state?

Supervisors shall perform regular and independent validation and testing of the models.

Banks' boards and senior management understand the limitations and certainties relating to the input of the models and the risk inherent to other banks.

The supervisor complies with standards on their use.

The supervisor assesses whether the model outputs appear reasonable as a reflection of the risks assumed.

2. What are three components of Model Risk Management Guidance?

Information input, stabilizing and reporting components

Information input, systemizing and reporting components

Information input, processing, and reporting components

Information input, stabilizing and financing components

3. As an AML/CTF committee, recurring responsibilities will be given, which of the statements best describe this?

Risk assessments

Voluntary self-disclosures

White lists and blacklists

Feedback loop management

4. What implies effective control at the enterprise level?

The senior management should be considered to remain effective for the future and be absent of any significant changes to the business or the process.

The administrators should be consistently effective, over the period, in either preventing or detecting an error.

The board of directors and senior management continually promulgate the importance of the culture of compliance with visible processes to enforce the clearly expressed expectations.

The policy should be an integral and smooth part of the business process with an appropriate combination of automated and manual components.

5. Risk management strategies reviews the four strategies that a financial institution can apply for managing risk, which is true in the following statements?

Informing them that acceptance from the formal risk acceptance form should be completed, which includes tactical temporary controls that can be executed during the development period.

Avoiding the risk can be, for example, discontinuing the product or exiting the customer relationship.

Treating the risk can the use of insurance or disclaimers; however, this is not an acceptable strategy for AML/CTF risks.

Controlling the potential consequences of the risk can be reduced with the introduction of appropriate controls so that the residual risk is acceptable.

6. A critical component of the AML/CTF compliance program is transaction monitoring, which of the following can be included during monitoring transactions?

Average time to analyze each alert by backend unit

The backlog of customers data

Number of alerts raised to case analyzed by a front line unit

Number of alerts generated by the lookback process

7. Which is applicable in a financial institution to set policies?

It should consist of high-level statements of principle and requires frequent changes in wording.

It should appropriately be authorized, published and be excluded in some trainings.

It should have principles and rules designed to establish the parameters that the enterprise has to respect while reaching the long-term business goals as defined in the strategic plan.

It should be pproved by the chairman and board of directors and reviewed annually.

8. Which of these statements defines Rejecting Transactions correctly?

Rejecting Transactions are an underlying transaction that may be provided, but there is no blockable interest in the transaction.

Rejecting Transactions are an underlying transaction that may be prohibited, but there is no blockable interest in the transaction.

Rejecting Transactions are an underlying transaction that may be provided, and that there is a blockable interest in the transaction.

Rejecting Transactions are an underlying transaction that may be precautioned, but there is no blockable bond in the transaction.

9. Inherent Risk Factors have three types, high, medium and, low.

Which of the statements is NOT a low inherent risk?

Normal retail domestic products such as checking and savings accounts

No exposure to high-risk jurisdictions

No face to face contact at account opening for new customers

Stable domestic customer base without significant growth

10. In the governance structure, the directors should have ongoing training, the program should include all the statements below, except?

Complex products, services, lines of business

Specific products and services of the bank

Laws, regulations, and supervisory requirements applicable to the covered bank

Risks that have a significant impact on the covered bank

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11. 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?

Cross border or international wire transfers

Private banking services

Trade finance

Virtual assets and cryptocurrencies.

12. Which of these statements is not a recommended guideline for Anti-Bribery and Corruption (ABC) program?

Governance

A controlled environment

Institution-related corruption risks

Firm-wide policy

13. In Risk Management, there are several components two of which are technology and cybersecurity risks, what are the difference between the two?

Technology risk is the potential for technology failures to stop the business such as information security incidents or service outages while cybersecurity risk is exposure to financial loss, disruption or damage to an organization as a result of a failure of its information technology systems.

Technology risk is the potential for technology failures to disrupt the business such as information security incidents or service outages while cybersecurity risk is non-exposure to financial loss, disruption or damage to an organization as a result of a failure of its information technology systems.

Technology risk is the automatic failure to disrupt the business such as information security incidents or service outages while cybersecurity risk is exposure to financial loss, disruption or damage to an organization as a result of a failure of its information technology systems.

Technology risk is the potential for technology failures to disrupt the business such as information security incidents or service outages while cybersecurity risk is exposure to financial loss, disruption or damage to an organization as a result of a failure of its information technology systems.

14. Transaction monitoring operations comprise a committee, policy and procedures, department and data management.

What does a transaction monitoring committee do?

The committee is following the policy and detailed procedures for the management of transaction monitoring for the financial institution.

The committee is responsible for managing the global standards and guidelines for the transaction monitoring component of the AML/CTF Compliance program of the financial institution. It ensures that the transaction monitoring program is globally consistent, effective and sustainable as it regards typology, maintenance, and tuning.

The committee is responsible for ensuring that there is a service level agreement in place with every front line unit, the information technology department and operating unit that is responsible for sending data for transaction monitoring.

The committee is responsible for ensuring that there is a service level agreement in place with each unit, the information technology department and operating unit that is responsible for sending data for transaction monitoring.

15. What are the two categories of the sanctions and watch list?

High-risk and low-risk lists

Vulnerable and non-vulnerable lists

Black and white lists

Peak and off-peak lists

16. In Risk Management under Recordkeeping, Section 326 of the USA PATRIOT Act requires that at the account level the financial institution must do which of the following?

Authorize the Financial Crimes Enforcement Network, or FinCEN, to provide to the financial institution

Permits financial institutions, upon providing notice to the Financial Crimes Enforcement Network, or FinCE

Retain the identifying information for ten years after the account is closed or, in the case of credit, ten years after the account becomes dormant. If a loan is sold the identifying information must be retained for ten years after the date of sale.

Retain the identifying information for five years after the account is closed or, in the case of credit, five years after the account becomes dormant. If a loan is sold the identifying information must be retained for five years after the date of sale.

Advanced CAMS Risk Management CAMS-RM Real Dumps

Advanced CAMS Risk Management CAMS-RM Real Dumps

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