Acams CAMS Exam - Topic 2 Question 12 Discussion

Actual exam question for Acams's CAMS exam

Question #: 12
Topic #: 2

[All CAMS Questions]

What are three elements of a sound Customer Due Diligence Program?

ADetermination of what type of customer the financial institution will accept

BTraining as to how and to what extent to identify prospective customers

CObtaining date of birth and address of a prospective customer

DDetermination of who in the institution should be assigned to the prospective customer as aliaison

Show Suggested Answer

Suggested Answer: A, B, C

by Willow at May 07, 2022, 08:29 AM

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Nelida

5 months ago

Not sure about the liaison part, isn't that a bit overkill?

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Margot

5 months ago

Agree, identifying customers is key for due diligence!

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Elfriede

5 months ago

Wait, do we really need to get their date of birth? Seems excessive.

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Venita

5 months ago

I think training is super important too.

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Michael

5 months ago

Definitely need to know the customer's type first!

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Vince

6 months ago

No problem, I've done similar tasks before. I'll just need to find the right paragraph and then make sure the pagination keeps all the lines together. Shouldn't be too tricky.

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Titus

6 months ago

This looks like a straightforward question about data types. I'm pretty confident I can figure this out.

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Gretchen

6 months ago

I think one of the key elements is identifying the types of customers the institution will accept, but Iâ€™m not completely sure.

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