Acams CAMS Exam - Topic 4 Question 2 Discussion

Actual exam question for Acams's CAMS exam

Question #: 2
Topic #: 4

[All CAMS Questions]

How do payable through accounts (PTAs) differ from normal foreign correspondent accounts?

AThe customers do not have to worry about sanctions list screening such as OFAC

BThe customers have the ability to directly control funds at the correspondent bank

CThe customers can contact the correspondent bank directly to send wire transfers

DThe customers can hide their identity through the use of cover payments in U.S. dollars

Show Suggested Answer

Suggested Answer: A

by Sherita at May 04, 2022, 06:00 PM

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Ayesha

6 months ago

Yeah, contacting the bank directly is super convenient!

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Jimmie

6 months ago

Cover payments? Sounds shady...

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Mabel

6 months ago

Direct control over funds is a big advantage!

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Deandrea

7 months ago

I thought all accounts had to screen for OFAC?

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Valentin

7 months ago

PTAs let you bypass some sanctions checks.

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Eleonore

7 months ago

Hmm, this is a tricky one. I'll need to think through the different options carefully to make sure I understand the implications of each approach.

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Rebbecca

7 months ago

I'm a little confused by the wording of this question. I'll need to re-read it a few times to make sure I understand what they're asking.

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Sanjuana

7 months ago

Hmm, let me think this through. The first query gets 5 Accounts, and then for each of those 5 Accounts, there's a query to get the Contacts. So I'm guessing the total number of queries is 6.

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