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NEW QUESTION 179
What should countries do to help prevent non-profit organizations from being abused for the financing of terrorism according to the Financial Action Task Force 40 Recommendations?
- A. Ensure non-profit organizations cannot be used to conceal or obscure the diversion of funds intended for legitimate purposes to terrorists' organizations
- B. Create laws that forbid non-profit organizations from completing cross-border transactions without first running them through known terrorist data bases
- C. Allow for freezing assets of non-profit organizations
- D. Require all non-profit organizations to register with the country's financial intelligence unit
Answer: A
Explanation:
Explanation/Reference: http://www.fatf-gafi.org/media/fatf/documents/reports/BPP-combating-abuse-non-profit- organisations.pdf (p.9)
NEW QUESTION 180
Financial Intelligence Units (FIUs) are responsible for:
- A. responding to requests from law enforcement agencies for information contained in regulatory reports.
- B. receiving confirmed reports about committed crimes from accountable and reporting institutions.
- C. sharing evidence with other FIUs.
- D. the timely dissemination of cases to law enforcement agencies.
Answer: D
NEW QUESTION 181
Which statement describes the relationship between the internal audit function and compliance?
- A. The internal audit methodology should include an assessment of compliance risk
- B. The compliance function and internal audit function should be combined
- C. In order to maintain independence, the auditors should not discuss internal audit findings with compliance management
- D. An internal audit program of the adequacy of the bank's compliance function should be established, but should not include review of transactions
Answer: A
NEW QUESTION 182
Which key factor would result in the decision for a financial institution (FI) to exit a client relationship?
- A. After assessing all risk factors the level of residual client risk exceeds the FI's risk appetite.
- B. Client transactions generate ongoing transaction monitoring alerts that did not result in any SAR/STR filings.
- C. Closing the client accounts will help reduce the number of transaction monitoring alerts.
- D. The client is a registered charity known to remit funds to high risk geographies where there is limited due diligence information available.
Answer: A
NEW QUESTION 183
When creating an anti-money laundering program for a foreign bank with branches in the United States, which of the following are included among the four minimum elements required under the USA PATRIOT Act?
- A. The designation of a compliance officer.
- B. An ongoing employee training program.
- C. The development of a Know Your Customer program.
- D. An independent audit function to test the program.
Answer: A,B
NEW QUESTION 184
A compliance officer receives a report from the institution's monitoring system. One account was identified in multiple alerts for the amount of cash deposited and international wires sent.
Which two sources of information held within the institution will enable the compliance officer to determine whether the activity should be reported? (Choose two.)
- A. Transaction records for the period during which the unusual activity occurred
- B. The customer due diligence information on file
- C. The monitoring system parameters for identifying unusual activity
- D. The signature card for the account
Answer: A,B
NEW QUESTION 185
Which two statements about the Wolfsburg Group are true?
- A. It is composed of representatives of financial intelligence units from around the world
- B. It has no power to impose its principles/guidance
- C. It based its original guidance around combating the laundering of proceeds of narcotics trafficking
- D. It focuses primarily on Know Your Customer, AML and CTF guidance
Answer: B,D
NEW QUESTION 186
A compliance officer is developing an anti-money laundering program for a financial institution located in a Financial Action Task Force member country. The institution conducts business with customers located in countries/jurisdictions that are not members of Financia Action Task Force. Which of the following issues should be addressed in the program?
1. The requirement to identify the beneficial owners of accounts.
2. The requirement for customer identification for the opening of new accounts.
3. The financial institution's obligation to report suspicious transactions.
4. The obligation to freeze funds involved in suspicious transactions.
- A. 1, 2, and 4 only
- B. 1, 3, and 4 only
- C. 2, 3, and 4 only
- D. 1, 2, and 3 only
Answer: D
NEW QUESTION 187
Note: This question is part of a series of questions that present the same scenario. Each question in the series contains a unique solution that might meet the stated goals. Some question sets might have more than one correct solution, while others might not have a correct solution.
After you answer a question, you will NOT be able to return to it. As a result, these questions will not appear in the review screen.
You are developing an application that uses an Azure Kubernetes Service (AKS) cluster.
You are troubleshooting a node issue.
You need to connect to an AKS node by using SSH.
Solution: You run the kubect1 command, and then you create an SSH connection.
Does this meet the goal?
- A. Yes
- B. No
Answer: B
NEW QUESTION 188
In some instances, a financial institution may receive a warrant from law enforcement authorities to search its premises. A search warrant is a grant of permission from a court for a law enforcement agency to search certain designated premises and seize specific categories of items or information. Generally, what is the required threshold for the requesting agency to establish in order to obtain a search warrant of a financial institution?
- A. A preponderance of the evidence
- B. Reasonable belief
- C. Probable cause
- D. Clear and convincing proof
Answer: B
NEW QUESTION 189
An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into the account followed by corresponding ATM withdrawals from a country bordering a conflict zone.
How should the bank respond?
- A. Contact the customer if the transaction activity continues
- B. File a suspicious transaction report
- C. Block any further activity
- D. Initiate an investigation into the activity
Answer: D
NEW QUESTION 190
How should a financial institution respond to a verbal request from a law enforcement agency to keep an account open to assist in an investigation?
- A. Request a subpoena to maintain the account
- B. Request a letter on the agency's letterhead
- C. Agree to keep the account open
- D. Request a search warrant from the local court
Answer: B
NEW QUESTION 191
When an institution conducts an internal investigation into an account following a law enforcement inquiry, it should consider a number of factors to independently determine if the account should be dosed. Which three considerations should be made when making the determination about closing an account? Choose 3 answers
- A. signed written requests by a law enforcement agency or prosecutor on official letterhead for theaccount to remain open
- B. Oral requests by a law enforcement agency or prosecutor for the account to be dosed
- C. The level of seriousness of the underlying conduct
- D. The institution's policies and procedures for closing an account
Answer: A,B,D
NEW QUESTION 192
Which precaution will a money launderer take to avoid detection when sending electronic transfers?
- A. Using cover payments for all electronic transfers
- B. Using round dollar amounts, so funds appear to be gifts or loans
- C. Varying the amounts of transactions and using reputable organizations
- D. Misspelling names to foil watch-list filtering systems
Answer: D
NEW QUESTION 193
A government has instituted new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.
Which step should an institution located in this jurisdiction take to ensure compliance?
- A. Change systems to ensure the required information is automatically obtained from all customers
- B. Send a notice to customers asking them to provide the necessary information
- C. Change procedures and systems as necessary and provide employee training
- D. Change procedures to require that the necessary information is obtained
Answer: B
NEW QUESTION 194
You deploy an infrastructure for a big data workload.
You need to run Azure HDInsight and Microsoft Machine Learning Server. You plan to set the RevoScaleR compute contexts to run rx function calls in parallel.
What are three compute contexts that you can use for Machine Learning Server? Each correct answer presents a complete solution.
NOTE: Each correct selection is worth one point.
- A. HBase
- B. local parallel
- C. Spark
- D. local sequential
- E. SQL
Answer: B,C,E
Explanation:
Remote computing is available for specific data sources on selected platforms. The following tables document the supported combinations.
* RxInSqlServer, sqlserver: Remote compute context. Target server is a single database node (SQL Server
2016 R Services or SQL Server 2017 Machine Learning Services). Computation is parallel, but not distributed.
* RxSpark, spark: Remote compute context. Target is a Spark cluster on Hadoop.
* RxLocalParallel, localpar: Compute context is often used to enable controlled, distributed computations relying on instructions you provide rather than a built-in scheduler on Hadoop. You can use compute context for manual distributed computing.
References:
https://docs.microsoft.com/en-us/machine-learning-server/r/concept-what-is-compute-context
NEW QUESTION 195
An auction house dealing in fine art and antiques sells a well-known painting at a price of $12 million to an agent bidding for a group of local investors. The same painting sold ten years prior at auction for $5 million. The auction house receives payment for the painting via wire transfer from an account maintained in an offshore jurisdiction by the investor group. No beneficial ownership information is available for the account.
What are the two money laundering red flags? (Choose two.)
- A. The painting has more than doubled its value in ten years.
- B. An agent bids on the painting for a group of investors.
- C. The payment is received via wire transfer.
- D. Lack of beneficial ownership details for the originating account.
- E. Payment is received from an account in an offshore jurisdiction.
Answer: B,D
NEW QUESTION 196
A compliance officer is tasked with implementing an enterprise-wide anti-money laundering program for a bank, which operates in multiple countries. Not all the bank products and services are available in all countries.
Which three factors should be considered as part of the approach? (Choose three.)
- A. The anti-money laundering risk posed by the products and services offered by the bank
- B. The types of customers serviced by the bank
- C. The amount of resources needed to implement the anti-money laundering program in the countries
- D. The extent of anti-money laundering regulations in the various countries
- E. The customer onboarding platform that will be used
Answer: A,D,E
NEW QUESTION 197
One area of responsibility for the Board of Directors when implementing a successful AML program is to:
- A. create a culture of compliance based on the profit expectation.
- B. manage the day-to-day processes of the compliance program.
- C. ensure the appointment of a qualified chief AML officer.
- D. hire a third-party firm to be responsible for the AML compliance.
Answer: C
NEW QUESTION 198
A bank receives an anonymous tip from an employee about another employee through its confidential hotline.
Which activity warrants further review?
- A. A teller distributes bank brochures to customers who regularly conduct cash transactions below reporting limits
- B. A mortgage officer works with home loan applicants to resolve adverse credit issues
- C. An employee in bookkeeping accepts funds transfer requests from customers via telephone
- D. An employee in accounting works with customers to help understand how to reduce service charges
Answer: C
NEW QUESTION 199
In addition to monitoring for suspicious activity, what are electronic monitoring systems also valuable for?
- A. Meeting mandatory regulatory requirements for system implementation
- B. Identifying how customers are using products
- C. Proving to the Board of Directors that the FIU is doing its job
- D. Highlighting the skills of the system analysts
Answer: A
Explanation:
Explanation/Reference:
NEW QUESTION 200
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