Acams Exam Advanced-CAMS-Audit Topic 2 Question 5 Discussion

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

Question #: 5
Topic #: 2

[All Advanced-CAMS-Audit Questions]

Which action would an auditor take to evaluate design effectiveness?

ACheck whether the policies and procedures are consistent with the authorities' regulations.

BCarry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.

CConfirm that alerts in transaction monitoring have been properly escalated or waived.

DConfirm that customer records are being kept in accordance with policies and procedures.

Show Suggested Answer

Suggested Answer: A

by Dean at Jan 11, 2025, 09:02 AM

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Miss

4 months ago

Wait, is this a trick question? I bet the answer is 'All of the above' - gotta cover all your bases, you know?

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Lashanda

3 months ago

User 4: D) Confirm that customer records are being kept in accordance with policies and procedures.

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Lawrence

3 months ago

User 3: C) Confirm that alerts in transaction monitoring have been properly escalated or waived.

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Emerson

3 months ago

User 2: B) Carry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.

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Lorean

3 months ago

User 1: A) Check whether the policies and procedures are consistent with the authorities' regulations.

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Brice

5 months ago

Checking suspicious activity reports? Sounds like a wild goose chase to me. Let's keep it simple and look at the big picture.

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Mila

4 months ago

D) Confirm that customer records are being kept in accordance with policies and procedures.

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Quentin

5 months ago

C) Confirm that alerts in transaction monitoring have been properly escalated or waived.

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Edwin

5 months ago

A) Check whether the policies and procedures are consistent with the authorities' regulations.

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Lorean

5 months ago

I believe option C is also important, as proper escalation of alerts is key to evaluating design effectiveness.

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Vallie

5 months ago

I agree with Avery, because checking consistency with regulations is crucial for design effectiveness.

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Felicitas

5 months ago

Hmm, I'm not sure. Keeping customer records in line with policies seems pretty important too. Can't ignore that compliance aspect.

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Derick

5 months ago

Nah, I'd say confirming the escalation of transaction monitoring alerts is key. Gotta make sure those red flags are being addressed.

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Carmelina

4 months ago

B) Carry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.

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Doug

4 months ago

C) Confirm that alerts in transaction monitoring have been properly escalated or waived.

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Evette

4 months ago

A) Check whether the policies and procedures are consistent with the authorities' regulations.

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Bo

5 months ago

I think checking the consistency of policies and procedures with regulations is the way to go. That's the foundation, right?

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Sean

5 months ago

D) Confirm that customer records are being kept in accordance with policies and procedures.

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Stanton

5 months ago

C) Confirm that alerts in transaction monitoring have been properly escalated or waived.

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Gretchen

5 months ago

A) Check whether the policies and procedures are consistent with the authorities' regulations.

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Avery

5 months ago

I think the auditor would choose option A.

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