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Acams Exam CAMS Topic 1 Question 72 Discussion

Actual exam question for Acams's CAMS exam
Question #: 72
Topic #: 1
[All CAMS Questions]

A financial institution opens a mortgage loan for a customer. During a subsequent internal review of the loan, it was noted that the appraisal used to support the loan was performed by an appraiser who was not on the institution's approved appraiser list. This exception was approved by the senior loan underwriter. The reviewer, who had examined other loans from the same general area, noted that the value on the loan appeared significantly higher than on other comparable properties. Which of the following should the anti-money laundering specialist recommend next?

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Suggested Answer: C

by Dorothy at Apr 25, 2024, 09:27 PM

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Lashunda
20 hours ago
Ooh, the plot thickens! I'd be a bit skeptical of option B - alerting the local law enforcement seems a bit extreme without more concrete evidence. Let's keep our cool and follow the proper procedures.
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Daisy
6 days ago
I think documenting the underwriter's actions is also necessary before filing a report.
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Laila
10 days ago
Hmm, this seems like a tricky situation. I'd recommend going with option C - document the underwriter's actions before filing a suspicious transaction report. That way, we have a paper trail to support any potential follow-up actions.
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Marta
12 days ago
I agree with Leila, checking the appraiser's license is important.
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Leila
15 days ago
I think we should determine if the appraiser's license is valid.
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