Acams Exam Advanced-CAMS-Audit Topic 2 Question 4 Discussion

Actual exam question for Acams's Advanced-CAMS-Audit exam

Question #: 4
Topic #: 2

A retail banking small and medium-sized enterprise (SME) customer launches a charity and requests a Corporate-SME account to receive donations and make disbursements. Which scenarios would most likely identify activity related to a charity account? (Select Two.)

AScenario 1

BScenario 4

CScenario 5

DScenario 6

EScenario 7
Scenario 1: Evaluates unusual activity, such as large, unexplained deposits or withdrawals, which are red flags in charity-related accounts .
Scenario 7: Exads to detect inconsistencies with the stated purpose, ensuring adherence to AML standards for NPOs .

Show Suggested Answer

Suggested Answer: A, E

by Yuonne at Jan 12, 2025, 11:07 AM

Limited Time Offer

25%

Off

Get Premium Advanced-CAMS-Audit Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Olga

12 days ago

I disagree, I think B and D are the better options. Scenario 4 and 6 both seem to focus on monitoring unusual activity and ensuring AML compliance, which is crucial for charity accounts.

upvoted 0 times

...

Vonda

15 days ago

I think scenarios 1 and 7 are the most likely to identify activity related to a charity account.

upvoted 0 times

...

Rasheeda

15 days ago

I'm pretty sure the correct answer is A and C. Large, unexplained deposits and withdrawals are definitely red flags for charity accounts, and scenario 7 helps ensure the account is being used for its intended purpose.

upvoted 0 times

Nida

7 days ago

I agree, A and C seem like the most relevant scenarios for a charity account.

upvoted 0 times

...