Acams CAMS-FCI Exam - Topic 1 Question 22 Discussion

Actual exam question for Acams's CAMS-FCI exam

Question #: 22
Topic #: 1

[All CAMS-FCI Questions]

Which action is part of the enhanced due diligence process?

ACollecting beneficial ownership details regarding the client's account

BUsing standard monitoring procedures to monitor transactions and account activity

CVerifying the source of wealth for entities and natural person clients

DApplying higher ownership percentage requirement for beneficial ownership collection

Show Suggested Answer

Suggested Answer: A

One of the actions that is part of the enhanced due diligence process is collecting beneficial ownership details regarding the client's account. This is important to identify the natural persons who ultimately own or control the client, and to assess the potential risks associated with them. According to the Financial Action Task Force (FATF), beneficial ownership information should include1:

The name, nationality, and country of residence of each beneficial owner.

The date of birth or incorporation of each beneficial owner.

The nature and extent of the beneficial interest held by each beneficial owner.

The means by which the beneficial ownership or control is exercised.

FATF Guidance on Transparency and Beneficial Ownership

by Sharika at Nov 01, 2025, 09:17 PM

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Gilberto

1 month ago

D could be relevant, but A covers the basics well.

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Tresa

2 months ago

I’m leaning towards C as well. It shows real transparency.

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Lacresha

2 months ago

I agree, but C seems important too. Verifying source of wealth is key.

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Fanny

2 months ago

Wait, is D really a thing? That’s new to me!

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Julie

3 months ago

Higher ownership percentage? Sounds a bit excessive to me.

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Fernanda

3 months ago

I thought B was enough, but I guess not?

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Fidelia

3 months ago

C is super important too, can't just take their word for it!

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An

3 months ago

Definitely A, you need to know who really owns the account.

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Lashaunda

3 months ago

C is the answer. Can't have any funny business when it comes to due diligence!

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Mariann

3 months ago

Haha, I bet some of these clients have wealth sources straight out of a spy novel. C is the way to go.

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Vilma

4 months ago

I'd go with C. Knowing where the money's coming from is key for enhanced due diligence.

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Vicki

4 months ago

Definitely C. Gotta make sure those clients aren't hiding any shady money under the mattress!

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Apolonia

4 months ago

C) Verifying the source of wealth for entities and natural person clients is the correct answer.

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Marylou

4 months ago

I’m a bit confused about the differences between enhanced and standard due diligence. I thought all these actions were part of the process, but I guess some are more specific than others.

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Dick

4 months ago

I think it's A. Beneficial ownership is crucial.

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Glory

5 months ago

I feel like option A is more about standard procedures, while C definitely sounds like it fits enhanced due diligence better.

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Lashaunda

5 months ago

I remember practicing a question similar to this, and I think collecting beneficial ownership details is also important, but I'm not sure if that's specifically enhanced due diligence.

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Sommer

5 months ago

I think enhanced due diligence involves verifying the source of wealth, so I might lean towards option C.

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Brande

5 months ago

This question is testing our knowledge of the enhanced due diligence process, so I'll focus on the steps that go beyond standard monitoring procedures.

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Gladys

6 months ago

Applying a higher ownership percentage requirement for beneficial ownership - that's an interesting detail I hadn't considered. I'll make sure to remember that one.

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Nickole

6 months ago

Collecting beneficial ownership info and verifying source of wealth seem like the key things for enhanced due diligence. I feel pretty confident I can identify those on the exam.

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Nickie

6 months ago

Okay, I'm a bit confused on the difference between standard monitoring and enhanced due diligence. I'll need to review that before the exam.

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Elly

6 months ago

Hmm, I think this is asking about the enhanced due diligence process, so I'll need to focus on the key steps there like verifying source of wealth and beneficial ownership details.

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