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?

AThe cornerstone of the 40 Recommendations is the adoption of a risk-based approach by each jurisdiction.

BEach jurisdiction can reach out to the FATF for private access to the interpretive notes to the 40 Recommendations.

CThe 40 Recommendations have not been updated to reflect the impact of new technology.

DThe 11 Immediate Outcomes are recommendations specific to high-risk jurisdictions requiring enhanced monitoring.

Show Suggested Answer

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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