ADVANCED-CAMS-AUDIT VALID TRAINING QUESTIONS & ADVANCED-CAMS-AUDIT UPDATED PRACTICE VCE & ADVANCED-CAMS-AUDIT EXAM CRAM TEST

Advanced-CAMS-Audit valid training questions & Advanced-CAMS-Audit updated practice vce & Advanced-CAMS-Audit exam cram test

Advanced-CAMS-Audit valid training questions & Advanced-CAMS-Audit updated practice vce & Advanced-CAMS-Audit exam cram test

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The ACAMS Advanced-CAMS-Audit certification is a valuable credential that plays a significant role in advancing the ACAMS professional's career in the tech industry. With the Advanced CAMS-Audit Certification Exam (Advanced-CAMS-Audit) certification exam you can demonstrate your skills and knowledge level and get solid proof of your expertise. You can use this proof to advance your career. The ACAMS Advanced-CAMS-Audit Certification Exam enables you to increase job opportunities, promotes professional development, and higher salary potential, and helps you to gain a competitive edge in your job search.

ACAMS Advanced-CAMS-Audit Exam Syllabus Topics:

TopicDetails
Topic 1
  • 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 2
  • 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 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 (Q67-Q72):

NEW QUESTION # 67
Which set of activities describes the planning phase of an audit?

  • A. Request management overview of the organization conduct analytical review of processes and issue findings
  • B. Request organizational charts, assess data for sample testing and provide an initial report
  • C. Request data regarding financials, schedule planning meeting and perform sample testing
  • D. Request the scheduling of preliminary discussions with management and request a walk-through of key processes

Answer: D

Explanation:
Comprehensive Detailed Step-by-Step Explanation:
* Activities in the Planning Phase:
* The planning phase involves understanding the scope, objectives, and framework for the audit.
* Preliminary discussions with management set the stage for identifying critical processes and potential risk areas.
* Key Actions:
* Scheduling preliminary discussions ensures alignment on audit goals.
* A walk-through of key processes provides insight into workflows and control mechanisms.
* Alignment with CAMS-Audit Principles:
* Effective planning as described in CAMS-Audit guidelines prioritizes communication and process understanding during initial audit phases.


NEW QUESTION # 68
Which requirement of a financial institution's compliance program should an auditor review first to understand key roles and responsibilities?

  • A. Designation of an individual or individuals responsible for coordinating and monitoring day-to-day compliance
  • B. Names of politically exposed persons that are subject to ongoing monitoring
  • C. List of high-risk customers subject to enhanced due diligence and the measures taken to mitigate the risks
  • D. List of suspicious transactions reported to the regulator

Answer: A

Explanation:
Key Roles and Responsibilities:
* Identifying compliance coordinators helps auditors understand the operational framework and ensure clear accountability in managing day-to-day AML compliance activities.
Initial Review Focus:
* This step provides a foundational understanding of the institution's compliance structure, enabling targeted assessments of other program components.
Advanced CAMS-Audit Reference:
* CAMS-Audit emphasizes that the effectiveness of an AML program hinges on having designated individuals who oversee compliance processes.


NEW QUESTION # 69
in addition to this investigation report, what Information should the auditor expect to find in the investigative file? (Select Two.)

  • A. Board approval for the suspicious activity report filing by the compliance department.
  • B. Historical transaction data of the customer s account.
  • C. Independent review by the compliance officer's line manager.
  • D. Adverse news search results against the customers and its controlling persons.
  • E. Policies and procedures relating to AML investigations and suspicious activity report filing.

Answer: B,D

Explanation:
Adverse news provides context on potential risks associated with the customer, while historical transaction data is critical for understanding patterns that may indicate suspicious activity.


NEW QUESTION # 70
An auditor plans to examine a sample targeting newly onboarded, high net-worth clients to assess adherence to their onboarding policies. What sampling methods should the auditor use? (Select Three.)

  • A. Systematic sampling
  • B. Stratified sampling
  • C. Judgment sampling
  • D. Snowball sampling
  • E. Simple random sampling
  • F. Discovery sampling

Answer: A,B,C

Explanation:
Sampling Methods Justification:
* A. Judgment Sampling: Enables the auditor to target high net-worth clients specifically based on their judgment of risk factors.
* B. Stratified Sampling: Allows for dividing the population into groups (e.g., high net-worth clients) and selecting samples from each group.
* F. Systematic Sampling: Ensures a structured and unbiased selection process, suitable for large datasets.


NEW QUESTION # 71
Which action would an auditor take to evaluate design effectiveness?

  • A. Confirm that alerts in transaction monitoring have been properly escalated or waived.
  • B. Confirm that customer records are being kept in accordance with policies and procedures.
  • C. Check whether the policies and procedures are consistent with the authorities' regulations.
  • D. Carry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.

Answer: C

Explanation:
* Explanation:Evaluating design effectiveness involves determining whether policies and procedures align with regulatory standards, which sets the foundation for a compliant AML/CFT program. This is a design-level assessment rather than testing implementation or outcomes, which would pertain to operational effectiveness.


NEW QUESTION # 72
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