Acams CAMS Exam - Topic 2 Question 76 Discussion

Actual exam question for Acams's CAMS exam

Question #: 76
Topic #: 2

A financial institution in a jurisdiction with currency reporting thresholds is undergoing a branch office compliance review. A large number of currency transactions in amounts exceeding a reporting threshold were discovered without a currency transaction report (CTR) being filed. The transactions were handled by the same teller (cashier). This teller (cashier) was recently hired and had not received anti-money laundering training yet. The branch manager received daily exception reports of all large currency transactions as well as a report of all CTR filings. Which of the following should the compliance officer recommend as the initial action?

ATerminate the teller's (cashier's) employment prior to the expiration of the probation peri-od.

BAn audit should be conducted for cash transactions since the last compliance review.

CThe branch manager should be formally reprimanded for failing to ensure proper instruc-tion was given.

DThe teller's (cashier's) employment should be suspended with pay pending appropriate training.

Show Suggested Answer

Suggested Answer: A

by Freeman at May 28, 2024, 06:22 PM

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Brittni

5 months ago

An audit is definitely needed to see the full picture here.

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Kati

5 months ago

Wait, how did the branch manager not notice this sooner?

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Yuonne

5 months ago

Terminating the teller seems too harsh without proper training first.

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Delmy

6 months ago

I agree, suspending with pay seems fair until they get trained.

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Cherry

6 months ago

Sounds like a training issue more than a firing one.

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Latrice

6 months ago

I think an audit is necessary, but I wonder if that should be the first step. Option B might be too reactive when we need to address the training issue first.

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Regenia

6 months ago

I’m a bit confused about whether terminating the teller's employment is too harsh without giving them a chance to learn. Option A seems extreme to me.

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Alona

7 months ago

I feel like we had a similar practice question where the focus was on accountability. Maybe option C could be a valid choice since the branch manager should have ensured training was provided.

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Keena

7 months ago

I remember we discussed the importance of training for new hires, so I think option D makes sense, but I'm not sure if suspension is the right approach.

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Sheron

7 months ago

I'm a bit torn on this one. Terminating the teller's employment might be justified, but suspending them with pay for training seems like a more reasonable first step. I'll need to weigh the options carefully.

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Pansy

7 months ago

The branch manager definitely dropped the ball here. I'd recommend formally reprimanding them for the lack of oversight. That should send a clear message that this kind of thing can't be tolerated.

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Marjory

7 months ago

Okay, so we have a new teller who didn't know the proper procedures, and a branch manager who didn't ensure they were properly trained. I think an audit is a good idea to get a full picture of what's been happening.

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Linwood

7 months ago

Hmm, terminating the teller's employment right away seems a bit harsh, especially since they haven't received the necessary training yet. I'm leaning more towards the suspension with pay option.

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Xuan

7 months ago

This seems like a tricky situation. I'll need to carefully consider the options and the potential consequences of each one.

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Cherrie

7 months ago

I'm not too familiar with Alcatel-Lucent routers, so I'll have to think this through carefully.

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Henriette

7 months ago

Hmm, I'm a bit unsure about this one. The question is asking what the administrator should check next, but the options don't seem directly related to disk utilization. I'll need to think this through carefully.

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