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Acams Exam CAMS Topic 1 Question 88 Discussion

Actual exam question for Acams's CAMS exam
Question #: 88
Topic #: 1
[All CAMS Questions]

Which product type is subject to US extra-jurisdictional reach over non-US banks and non-US persons under the USA PATRIOT Act?

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Suggested Answer: B, C

by Dion at Sep 17, 2024, 08:33 PM

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Jade
17 days ago
Wait, the USA PATRIOT Act? More like the USA PARTY Act, am I right? *winks*
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Teddy
18 days ago
Aha! I know this one. The answer is U) S.Extra-Jurisdictional Reach under the USA PATRIOT Act. Gotta love those tricky exam questions.
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Malinda
19 days ago
The USA PATRIOT Act is all about fighting terrorism, so I'd say the answer is C) Trade finance. That's where a lot of suspicious transactions can happen.
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Nan
20 days ago
I'm pretty sure it's D) Private banking. Those high-net-worth clients are always a target for anti-money laundering regulations.
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Haydee
2 months ago
Hmm, I think the answer is B) Correspondent banking. That's the one that deals with international transactions, right?
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Chi
29 days ago
That's right, Correspondent banking involves international transactions and is subject to US extra-jurisdictional reach.
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Valentine
1 months ago
Yes, you're correct. Correspondent banking is the product type subject to US extra-jurisdictional reach under the USA PATRIOT Act.
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Annamaria
2 months ago
I'm not sure, but I think it might also be D) Private banking because it involves high-net-worth individuals.
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Chantell
2 months ago
I agree with Paulene, because correspondent banking involves transactions with non-US banks.
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Paulene
2 months ago
I think the answer is B) Correspondent banking.
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