Acams Exam Advanced-CAMS-Audit Topic 4 Question 9 Discussion

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

Question #: 9
Topic #: 4

Considering recent changes in the bank's correspondent banking business. Which is the most important risk indicator for the internal auditor to review?

AThe management and ownership of the respondent bank.

BThe purpose of the services provided to the respondent bank.

CThe jurisdiction in which the respondent bank is located.

DThe major business activities of the respondent bank.
Jurisdictional risk is critical in correspondent banking due to potential exposure to countries with weaker AML/CFT controls, high corruption levels, or sanctions.

Show Suggested Answer

Suggested Answer: C

by Kayleigh at Mar 07, 2025, 02:51 AM

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William

13 days ago

I see your point, Lamar. It's all about minimizing exposure to high-risk countries.

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27 days ago

C) The jurisdiction in which the respondent bank is located. Absolutely, that's the most important factor. I can't believe anyone would even consider the other options.

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