Discuss Acams CAMS Exam Topic 1 Question 25

Acams CAMS Exam - Topic 1 Question 25 Discussion

Posted by Mitsue on May 06, 2022 at 05:07 AM

When and how should an institution appraise the AML risk of a newly developed product?

Choose 3 answers

AThe institution should request the Compliance Officier to review and evaluate the AML risk prior to the product going live

BThe institution should roll the product out on a preliminary basis to determine what risks develop with regard to the product

CThe institution should review previous administrative actions to determine if the product has created problems for other institutions

DThe institution should evaluated where, how and to what extent the product is going to be used

Suggested Answer: A, B, D

7 comments · newest first

Stephen 1 year ago

Wait, how can we trust past actions? Things change, right?

Isabella 1 year ago

D is super important too! Knowing the usage context is crucial.

Chun 1 year ago

C makes sense. Learning from others' mistakes is key!

Ruthann 1 year ago

I think B is a bit risky. Testing on the fly could lead to issues.

Basilia 1 year ago

Definitely A! Compliance should always be involved before launch.

Krissy 1 year ago

Hmm, I'm not totally sure about the intestate distribution rules here. I'll have to think it through carefully.

Nickole 1 year ago

I think A, C, and D look like strong choices - involving compliance, checking past issues, and assessing potential usage.

Thread summary

● Consensus

Community pick: Yes strong agreement

Vote breakdown

A 90%

B 90%

C 3%

D 95%

Summary updated from 7 comments · last activity 1 year ago

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