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Advanced-CAMS-Audit Prep4king Vce & Advanced-CAMS-Audit Examcollection Torrent & Advanced-CAMS-Audit Valid Questions

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ACAMS Advanced-CAMS-Audit Exam Syllabus Topics:

Topic
Details

Topic 1

Reporting, Recommendations, and Follow-Up: This section of the exam measures the skills of audit managers and covers the communication of audit findings to stakeholders. It includes developing clear recommendations for improvement based on evaluation results and ensuring follow-up on those recommendations.

Topic 2

Fieldwork and Evaluation: This section of the exam measures the skills of target professionals to demonstrate audit procedures during fieldwork. It involves collecting evidence, testing controls, and evaluating findings to ensure accuracy and reliability.

Topic 3

Planning and Scoping: This section of the exam measures the skills of audit managers and covers the processes involved in planning an audit engagement. It includes defining the scope, objectives, and resources required for an effective audit. A critical skill evaluated here is the ability to identify risks and develop a comprehensive audit plan that addresses those risks while ensuring compliance with relevant standards.

Topic 4

Corporate Governance and the Audit Function: This section of the exam measures the skills of auditing professionals and covers the principles and frameworks that guide effective governance in organizations. It emphasizes understanding the roles and responsibilities of the board of directors, management, and auditors. A key skill assessed is the ability to evaluate governance structures and their impact on organizational performance.

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ACAMS Advanced CAMS-Audit Certification Exam Sample Questions (Q84-Q89):

NEW QUESTION # 84
Which KYC-related finding poses the most risk to the organization?

A. Backlogs and delays in maintaining client files in accordance with the organization's policy
B. Sanctions fists that are updated on a periodic basis following an annual risk assessment
C. KYC requirements being considered a low priority not designed into business processes and implemented after product launch
D. KYC processes not being integrated into the business and associated application systems

Answer: C

Explanation:
KYC integration is fundamental to ensuring that anti-money laundering controls are effective from the outset of client onboarding. Delayed implementation of KYC increases the risk of onboarding high-risk customers without adequate due diligence.
Advanced CAMS-Audit documentation stresses the importance of embedding KYC into business processes during product design and rollout phases to mitigate risks.
Neglecting this requirement can expose the organization to severe regulatory penalties and reputational damage.

NEW QUESTION # 85
When reviewing an entity's sanctions compliance program, the auditor should ensure who is exempt from the Office of Foreign Assets Control's regulations?

A. Non-US entities having branches outside the US
B. US citizens residing outside the
C. US entities having branches outside the US
D. Non-US citizens residing in the US

Answer: D

Explanation:
Exemptions from OFAC Regulations:
* Non-US citizens residing in the US are typically subject to OFAC regulations unless explicitly exempted. However, understanding exemptions is vital for sanctions compliance.
Auditor's Role in Sanctions Compliance:
* Auditors must review whether the entity's compliance program correctly identifies and exempts individuals or entities as per OFAC guidelines.
CAMS-Audit Reference:
* CAMS-Audit recommends thorough reviews of sanctions compliance programs, focusing on adherence to OFAC requirements and exemptions.

NEW QUESTION # 86
Why is it crucial for the audit plan to consider the effectiveness of the AML risk assessment controls and risk mitigants?

A. Improper identification and assessment of risk creates deficiencies resulting in an overall weakened AML compliance program.
B. Strict CDD rules promote high ethical and professional standards in the financial industry.
C. Audits need to approve the implementation of the controls and review testing outcomes.
D. There is a regulatory requirement for the audit to update the AML risk assessments on a continuous or specified periodic basis.

Answer: A

Explanation:
B: Improper identification and assessment of risk creates deficiencies resulting in an overall weakened AML compliance program.

NEW QUESTION # 87
Which is the most significant risk associated with KYC requirements being considered a low priority not designed into processes and subsequently implemented after the products are already launched?

A. Product launches will motivate frontline to get more customers.
B. Product launches may not be adequately prepared.
C. Frontline will not complete adequate CDD.
D. Client experience improves as accounts can be opened more quickly.

Answer: C

Explanation:
* Critical Impact:
* Absence of CDD processes during product launch leaves the institution exposed to onboarding high-risk customers without proper risk assessment.
* Guidelines and Compliance:
* FATF standards emphasize embedding CDD in all stages of customer interaction to mitigate ML
/TF risks.

NEW QUESTION # 88
Which KYC-related finding poses the most risk to the organization?

A. Backlogs and delays in maintaining client files in accordance with the organization's policy
B. Sanctions fists that are updated on a periodic basis following an annual risk assessment
C. KYC requirements being considered a low priority not designed into business processes and implemented after product launch
D. KYC processes not being integrated into the business and associated application systems

Answer: C

NEW QUESTION # 89
......

One of the advantages of taking the PassCollection Advanced CAMS-Audit Certification Exam (Advanced-CAMS-Audit) practice exam (desktop and web-based) is that it helps applicants to focus on their weak areas. It also helps applicants to track their progress and make improvements. ACAMS Advanced-CAMS-Audit Practice Exams are particularly helpful in identifying areas where one needs more practice.

Advanced-CAMS-Audit Valid Exam Syllabus: https://www.passcollection.com/Advanced-CAMS-Audit_real-exams.html

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