Acams Exam CAMS Topic 1 Question 88 Discussion

Actual exam question for Acams's CAMS exam

Question #: 88
Topic #: 1

[All CAMS Questions]

Which product type is subject to US extra-jurisdictional reach over non-US banks and non-US persons under the USA PATRIOT Act?

ACommercial lending

BCorrespondent banking

CTrade finance

DPrivate banking

US.Extra-Jurisdictional Reach under the USA PATRIOT Act - Exam-Answer3

Show Suggested Answer

Suggested Answer: B, C

by Dion at Sep 17, 2024, 08:33 PM

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14 days ago

Hmm, I think the answer is B) Correspondent banking. That's the one that deals with international transactions, right?

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21 days ago

I'm not sure, but I think it might also be D) Private banking because it involves high-net-worth individuals.

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22 days ago

I agree with Paulene, because correspondent banking involves transactions with non-US banks.

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23 days ago

I think the answer is B) Correspondent banking.

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