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Acams CAMS Exam - Topic 3 Question 11 Discussion

On who does the ultimate responsibility for an institution's anti-money laundering program rest?
B) The institution's Board of Directors
A) The designated AML Compliance Officer
C) All employees with customer contact
D) The government regulator examining the AML program

Acams CAMS Exam - Topic 3 Question 11 Discussion

Actual exam question for Acams's CAMS exam
Question #: 11
Topic #: 3
[All CAMS Questions]

On who does the ultimate responsibility for an institution's anti-money laundering program rest?

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Suggested Answer: B

by Erick at May 07, 2022, 02:23 PM

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Eulah
9 months ago
Agreed, the Compliance Officer has to take the lead on this!
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Vonda
9 months ago
Wait, the government regulator? That seems off.
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Kelvin
9 months ago
All employees should be involved, but ultimate responsibility? Not sure.
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Helaine
10 months ago
I think it's more on the AML Compliance Officer.
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Katheryn
10 months ago
Definitely the Board of Directors. They set the tone.
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Aron
10 months ago
I'm confident I know the answer to this one. The question is asking about the types of trust funds, and the correct option is C, Private purpose Trust Funds.
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Janine
10 months ago
I've got a vague memory of components needing to be coupled. But I'm not confident about the second one.
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Marylou
10 months ago
I remember we discussed "Stretched Fabric" in class, but wasn't that more about extending Layer 2 domains rather than controlling flooding?
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Hui
10 months ago
Hmm, I'm a little unsure about this one. I know rhinitis medicatmentosa is a condition caused by overuse of certain medications, but I can't quite remember which drug class is the culprit. I'll have to think this through carefully.
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Karon
10 months ago
This seems straightforward. The customer has set the minimum instances to 6 and the maximum to 8. They've also added a scaling rule to adjust to 10 instances. Since the group already has 6 instances, the scheduled task should add 4 more instances to reach the target of 10.
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