Acams Exam Advanced-CAMS-Audit Topic 2 Question 4 Discussion

Actual exam question for Acams's Advanced-CAMS-Audit exam

Question #: 4
Topic #: 2

A retail banking small and medium-sized enterprise (SME) customer launches a charity and requests a Corporate-SME account to receive donations and make disbursements. Which scenarios would most likely identify activity related to a charity account? (Select Two.)

AScenario 1

BScenario 4

CScenario 5

DScenario 6

EScenario 7
Scenario 1: Evaluates unusual activity, such as large, unexplained deposits or withdrawals, which are red flags in charity-related accounts .
Scenario 7: Exads to detect inconsistencies with the stated purpose, ensuring adherence to AML standards for NPOs .

Show Suggested Answer

Suggested Answer: A, E

by Yuonne at Jan 12, 2025, 11:07 AM

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Penney

5 months ago

Personally, I'm torn between A and E. I mean, who doesn't love a good 'Exads' reference? But in all seriousness, I think the key is looking for those red flags of suspicious activity.

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Jacob

4 months ago

Yes, it's important to ensure adherence to AML standards for NPOs.

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Della

4 months ago

I agree, looking out for unusual activity is crucial in charity accounts.

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Janessa

5 months ago

Haha, I bet the exam writers threw in scenario E just to see if anyone would actually pick that. I mean, 'Exads'? What even is that?

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Yasuko

4 months ago

Yeah, I agree. It's probably there to throw people off.

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Carin

4 months ago

I know, right? Scenario E seems like a trick answer.

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Frederica

5 months ago

I also believe that scenarios 1 and 7 are the best options. They both focus on detecting suspicious activity in charity-related accounts.

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Avery

5 months ago

I agree with you, Vonda. Scenario 1 looks for unusual activity like large deposits or withdrawals, while scenario 7 checks for inconsistencies with the stated purpose.

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Olga

5 months ago

I disagree, I think B and D are the better options. Scenario 4 and 6 both seem to focus on monitoring unusual activity and ensuring AML compliance, which is crucial for charity accounts.

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Antonio

4 months ago

So, it seems like a combination of Scenario 4, 6, 1, and 7 would be ideal for managing a charity account.

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Antonio

4 months ago

Scenario 1 and 7 are also important for detecting red flags and inconsistencies in charity-related accounts.

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Jessenia

4 months ago

I agree, Scenario 6 also focuses on ensuring AML compliance, which is crucial for charity accounts.

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Wava

4 months ago

I think Scenario 4 is important for monitoring unusual activity in charity accounts.

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Vonda

5 months ago

I think scenarios 1 and 7 are the most likely to identify activity related to a charity account.

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Rasheeda

5 months ago

I'm pretty sure the correct answer is A and C. Large, unexplained deposits and withdrawals are definitely red flags for charity accounts, and scenario 7 helps ensure the account is being used for its intended purpose.

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Bernardine

4 months ago

It's important to monitor for red flags and inconsistencies to prevent misuse of funds in charity accounts.

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Arlene

4 months ago

Yes, those scenarios focus on detecting unusual activity and ensuring adherence to AML standards for NPOs.

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Nida

5 months ago

I agree, A and C seem like the most relevant scenarios for a charity account.

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