Acams CAMS Exam - Topic 3 Question 48 Discussion

Actual exam question for Acams's CAMS exam

Question #: 48
Topic #: 3

According to the 5th EU Money Laundering Directive, member states require entities to apply enhanced customer due diligence measures with respect to business relationships or transactions involving high-risk third country nationals. Which are included in these requirements? (Choose three.)

AObtaining the approval of senior management for establishing or continuing the business relationship

BObtaining copies of passports for all authorized persons

CEstablishing and verifying the address of the client

DObtaining information on the reasons for intended or performed transactions

EObtaining tax reference details for the client

FObtaining information on the source of funds and source of wealth of the customer and of the beneficial owner(s)

Show Suggested Answer

Suggested Answer: D, E, F

by Harrison at May 07, 2022, 02:26 PM

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Mitsue

6 months ago

Obtaining info on source of funds? Sounds like a lot of work!

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Edgar

6 months ago

I think verifying the client's address is crucial too.

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Noel

6 months ago

Wait, do we really need tax reference details? Seems excessive.

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Una

7 months ago

Totally agree, that's a must!

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Fletcher

7 months ago

Gotta get senior management approval for high-risk clients.

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Geoffrey

7 months ago

Okay, I've got this. I know that a single database instance can support multiple service names, and that service names are created by the listener. I'll select those options.

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Corinne

7 months ago

Hmm, I'm a bit unsure about this one. I know the Service Reusability principle is important, but I'm not totally clear on how it affects infrastructure requirements. I'll have to review my notes.

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Heidy

7 months ago

Okay, I think I've got this. The key is making sure the journal control is configured properly to meet the client's requirement of only using the general journal for ledger-type transactions. Let me double-check the details on that.

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Huey

7 months ago

This is a classic corporate finance problem. I'll start by analyzing the company's current capital structure and then consider how each financing option would affect the debt-to-equity ratio and the risk of breaching the covenant.

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