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NO.1 What are three factors a financial institution should examine with regard to a new customer
who is opening up a new account? Choose 3 answers
A. The country or location where the customer is from or does business
B. The previous financial institutions where the customer has banked
C. The type and size of the business the customer runs
D. The legal structure of the customer's business
Answer: B,C,D
CAMS questions
NO.2 A profitable commercial customer who operates an import-export business has multiple
accounts with the same institution at branches m different locations. The customer receives funds
from a jurisdiction perceived as highly corrupt according to Transparency International ratings. The
customer makes frequent transfers among the accounts and prefers to manage the accounts
separately. What should the institution do to mitigate the risk associated with these accounts?
A. Conduct a trade-pnce manipulation analysis
B. Diminish the importance of the subjective Transparency International rating
C. Develop a system to monitor all the activity
D. File a suspicious transaction report
Answer: D
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CAMS Practice Test Total Q&A: 137 Questions and Answers
Last Update: 2016-11-08
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