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

Actual exam question for Acams's Advanced-CAMS-Audit exam
Question #: 4
Topic #: 2
[All Advanced-CAMS-Audit Questions]

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.)

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Suggested Answer: A, E

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

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Penney
2 months ago
Personally, I'm torn between A and E. I mean, who doesn't love a good 'Exads' reference? But in all seriousness, I think the key is looking for those red flags of suspicious activity.
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Jacob
2 months ago
Yes, it's important to ensure adherence to AML standards for NPOs.
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Della
2 months ago
I agree, looking out for unusual activity is crucial in charity accounts.
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Janessa
3 months ago
Haha, I bet the exam writers threw in scenario E just to see if anyone would actually pick that. I mean, 'Exads'? What even is that?
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Yasuko
2 months ago
Yeah, I agree. It's probably there to throw people off.
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Carin
2 months ago
I know, right? Scenario E seems like a trick answer.
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Frederica
3 months ago
I also believe that scenarios 1 and 7 are the best options. They both focus on detecting suspicious activity in charity-related accounts.
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Avery
3 months ago
I agree with you, Vonda. Scenario 1 looks for unusual activity like large deposits or withdrawals, while scenario 7 checks for inconsistencies with the stated purpose.
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Olga
3 months 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.
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Antonio
2 months ago
So, it seems like a combination of Scenario 4, 6, 1, and 7 would be ideal for managing a charity account.
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Antonio
2 months ago
Scenario 1 and 7 are also important for detecting red flags and inconsistencies in charity-related accounts.
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Jessenia
2 months ago
I agree, Scenario 6 also focuses on ensuring AML compliance, which is crucial for charity accounts.
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Wava
2 months ago
I think Scenario 4 is important for monitoring unusual activity in charity accounts.
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Vonda
3 months ago
I think scenarios 1 and 7 are the most likely to identify activity related to a charity account.
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Rasheeda
3 months 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.
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Bernardine
2 months ago
It's important to monitor for red flags and inconsistencies to prevent misuse of funds in charity accounts.
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Arlene
2 months ago
Yes, those scenarios focus on detecting unusual activity and ensuring adherence to AML standards for NPOs.
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Nida
3 months ago
I agree, A and C seem like the most relevant scenarios for a charity account.
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