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Acams Exam CAMS Topic 3 Question 98 Discussion

Actual exam question for Acams's CAMS exam
Question #: 98
Topic #: 3
[All CAMS Questions]

Which of the following statements is true regarding the 2012 Financial Action Task Force (FATF) 40 Recommendations and/or 11 Immediate Outcomes?

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Suggested Answer: A

The FATF 40 Recommendations provide a global AML/CFT framework, and the Immediate Outcomes assess effectiveness.

Option A (Correct): The risk-based approach (RBA) is the foundation of modern AML compliance and is mandated by FATF Recommendation 1.

Option B (Incorrect): Interpretive notes are public documents available to all jurisdictions, not private.

Option C (Incorrect): The 40 Recommendations are regularly updated, incorporating new technology (e.g., virtual assets in 2019).

Option D (Incorrect): The 11 Immediate Outcomes assess the effectiveness of AML systems globally, not just for high-risk countries.


by Latia at May 05, 2025, 05:28 AM

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Galen
2 months ago
I'm going with A. It's the only one that aligns with my understanding of the FATF Recommendations. Unless the FATF has a secret karaoke night that I don't know about.
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Lon
4 days ago
D. The 2012 FATF Recommendations are not relevant to financial institutions.
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Fidelia
5 days ago
C. The 2012 FATF Recommendations include guidelines for hosting karaoke nights.
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Heike
9 days ago
B. The 2012 FATF Recommendations focus on promoting transparency and accountability in the financial sector.
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Shakira
1 months ago
A. The 2012 FATF Recommendations are a set of international standards to combat money laundering and terrorist financing.
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Janey
2 months ago
That's a good point, high-risk jurisdictions need extra attention to combat money laundering and terrorist financing.
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Hannah
2 months ago
D just sounds made up. The 11 Immediate Outcomes are about assessing effectiveness, not recommendations for high-risk jurisdictions.
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Chun
27 days ago
The 11 Immediate Outcomes are definitely not made up. They play a crucial role in evaluating the effectiveness of anti-money laundering measures.
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Tommy
1 months ago
Yeah, the 40 Recommendations are different from the 11 Immediate Outcomes. They serve different purposes.
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Kimberlie
2 months ago
I think the 11 Immediate Outcomes focus on assessing effectiveness, not recommendations for high-risk jurisdictions.
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Rossana
2 months ago
D) The 11 Immediate Outcomes are recommendations specific to high-risk jurisdictions requiring enhanced monitoring.
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Golda
2 months ago
I agree with Janey, the risk-based approach is crucial for effective implementation.
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Janey
2 months ago
A) The cornerstone of the 40 Recommendations is the adoption of a risk-based approach by each jurisdiction.
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Brandon
3 months ago
C has to be wrong. The FATF is constantly updating its recommendations to keep up with new financial technologies and emerging risks.
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Jenelle
3 months ago
B sounds like a trick question. I doubt the FATF gives private access to their interpretive notes - that would defeat the purpose of having a common global standard.
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Evangelina
2 months ago
A) The 40 Recommendations are crucial for promoting global standards in combating money laundering and terrorist financing.
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King
2 months ago
B) I agree, it does seem unlikely that the FATF would provide private access to interpretive notes.
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Ligia
2 months ago
A) The cornerstone of the 40 Recommendations is the adoption of a risk-based approach by each jurisdiction.
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Eun
3 months ago
I'm pretty sure the correct answer is A. The FATF 40 Recommendations are all about the risk-based approach, which is the cornerstone of the whole framework.
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Rosio
2 months ago
User 3: It's important for jurisdictions to adopt that approach for effective anti-money laundering measures.
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Charisse
2 months ago
User 2: Definitely, the 40 Recommendations focus on that.
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Glenn
2 months ago
User 1: I agree, A is the correct answer. The risk-based approach is key.
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