Acams Exam CAMS-FCI Topic 2 Question 2 Discussion

Actual exam question for Acams's CAMS-FCI exam

Question #: 2
Topic #: 2

[All CAMS-FCI Questions]

Which are primary purposes of Financial Action Task Force {FATF)-Style Regional Bodies? (Select Two.)

AActing as a prudential regulatory body for financial institutions

BProviding due diligence for foreign correspondent banks

CProviding expertise and input in FATF policy-making

DImposing special measures for non-cooperative jurisdictions

EPromoting effective implementation of FATF recommendations

Show Suggested Answer

Suggested Answer: C, E

The primary purposes of Financial Action Task Force (FATF)-Style Regional Bodies are to promote effective implementation of FATF recommendations and to provide expertise and input in FATF policy-making. (CAMS Manual, 6th Edition, Page 180)

by Graham at Oct 24, 2024, 08:08 PM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Nobuko

9 months ago

Ha, I bet the answer is actually A and E. Regulatory bodies and promoting recommendations - that's gotta be it!

upvoted 0 times

...

Fannie

9 months ago

This is a tough one, but I'm going with C and E. Those options just make the most sense for the role of FATF-Style Regional Bodies.

upvoted 0 times

Dorinda

8 months ago

I'm leaning towards C and E as well. It's important for these bodies to have a role in shaping policy and ensuring compliance with FATF standards.

upvoted 0 times

...

Reiko

8 months ago

C and E make sense to me too. It's all about contributing to policy-making and ensuring the recommendations are put into practice.

upvoted 0 times

...

Chaya

8 months ago

I think C and E are the correct options because they involve providing expertise and promoting effective implementation of FATF recommendations.

upvoted 0 times

...

Floyd

8 months ago

I agree, C and E seem like the most logical choices for the primary purposes of FATF-Style Regional Bodies.

upvoted 0 times

...

Paris

9 months ago

Hmm, I think B and D are the way to go. Providing due diligence and imposing measures seem like the main purposes to me.

upvoted 0 times

Marylin

8 months ago

It's important to have a combination of functions to ensure the success of the organization.

upvoted 0 times

...

Josphine

8 months ago

True, all of those purposes are essential for the effectiveness of FATF-Style Regional Bodies.

upvoted 0 times

...

Nobuko

8 months ago

I think C and E are also crucial, providing expertise and promoting effective implementation of FATF recommendations.

upvoted 0 times

...

Cherri

8 months ago

I agree, B and D are definitely important functions of FATF-Style Regional Bodies.

upvoted 0 times

...

Mica

10 months ago

I'm pretty sure A and D are the right answers. They act as a regulatory body and impose measures on non-cooperative jurisdictions.

upvoted 0 times

Tasia

8 months ago

No problem! It's important to understand their role in combating money laundering and terrorist financing.

upvoted 0 times

...

Pearline

9 months ago

Oh, I see. Thanks for clarifying. I wasn't sure about the correct purposes of FATF-Style Regional Bodies.

upvoted 0 times

...

Chi

9 months ago

Actually, it's E and C. They promote effective implementation of FATF recommendations and provide expertise in policy-making.

upvoted 0 times

...

Lynelle

9 months ago

I think A and D are correct. They regulate financial institutions and impose measures on non-cooperative jurisdictions.

upvoted 0 times

...

Melynda

10 months ago

The correct answers are C and E. FATF-Style Regional Bodies provide expertise and input in FATF policy-making and promote effective implementation of FATF recommendations.

upvoted 0 times

Lazaro

9 months ago

That makes sense. It's important for these bodies to work closely with FATF to ensure consistency and effectiveness.

upvoted 0 times

...

Pamella

9 months ago

Yes, C and E are the correct answers. FATF-Style Regional Bodies play a key role in policy-making and implementation.

upvoted 0 times

...

Asuncion

9 months ago

E) Promoting effective implementation of FATF recommendations

upvoted 0 times

...

Tamra

9 months ago

D) Imposing special measures for non-cooperative jurisdictions

upvoted 0 times

...

Percy

9 months ago

C) Providing expertise and input in FATF policy-making

upvoted 0 times

...

Anna

9 months ago

B) Providing due diligence for foreign correspondent banks

upvoted 0 times

...

Deane

9 months ago

A) Acting as a prudential regulatory body for financial institutions

upvoted 0 times

...

Paola

10 months ago

I agree with Stefany. Those two purposes are crucial in ensuring the effectiveness of the FATF recommendations globally.

upvoted 0 times

...

Stefany

10 months ago

I think the primary purposes of FATF-Style Regional Bodies are C) Providing expertise and input in FATF policy-making and E) Promoting effective implementation of FATF recommendations.

upvoted 0 times

...