Exam Code: CAMS7
Exam Name: Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Version: V13.25
Q & A: 72 Questions and Answers
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NEW QUESTION: 1
A security analyst is running a routine vulnerability scan against a web farm. The farm consists of a single server acting as a load-balancing reverse proxy and offloads cryptographic processes to the backend servers. The backend servers consist of four servers that process the inquiries for the front end.
A web service SSL query of each server responds with the same output:
Connected (0x000003)
depth=0 /0=farm.company.com/CN=farm.company.com/OU=Domain Control Validated Which of the following results BEST addresses these findings?
A. Create an exception in the vulnerability scanner, as the results and false positives and can be ignored safely
B. Require that the application development team renews the farm certificate and includes a wildcard for the `local' domain in the certificate SAN field
C. Advise the application development team that the SSL certificates on the backend servers should be revoked and reissued to match their hostnames
D. Notify the application development team of the findings and advise management of the results
Answer: A
NEW QUESTION: 2
A risk manager is deciding between using futures or forward contracts to hedge a forward foreign exchange position. Which of the following statements would be true as he considers his decision:
I. He would need to consider tailing the hedge for the futures contracts while that does not apply to forward contracts II. He would need to consider tailing the hedge for the forward contract while that does not apply to futures contracts III. He would need to consider counterparty risk for the futures contracts while that is unlikely to be an issue for the forward contract IV. He would be likely able to match up maturity dates to his liability when using futures while that may not be so for the forward contracts
A. I only
B. II only
C. I and III
D. II and IV
Answer: A
Explanation:
Explanation
Tailing the hedge refers to adjusting the number of futures contracts required to hedge a position given that futures contracts result in daily cash flows from daily P&L. In the case of forward contracts, P&L is not settled daily but at the end of the contract. Because margin payments (ie the daily P&L) for futures contracts create interest cost or income (depending upon the direction of the flows), the number of contracts required to hedge a given position can fluctuate. This effect is generally small for small positions, or where the time period under consideration is not very long. But it can get large for larger positions that are open for longer time periods, therefore requiring an adjustment to 'tail the hedge'. The adjustment is straightforward - the number of contracts required needs to be divided by (1+r)t, where r is the interest and t the time period (or by ert if continuously compounded rates are being used. Therefore statement I is true and statement II is false.
Statement III is not correct as counterparty risk is certainly an issue for forward contracts, while futures contracts are guaranteed by the exchange, besides having margin requirements and daily P&L movement in place.
Statement IV is not correct as futures come in standardized contracts with standard amounts and a few standard expiry dates to pick, whereas forward contracts are customized and dates, amounts and other details of the contract can be negotiated.
NEW QUESTION: 3
Starting with Samba 3.0, what support was added for filenames and other text containing characters in international character sets?
A. Locale
B. Unicode
C. Valid Chars
D. Client Code Page 850
E. Character Set 850
Answer: B
NEW QUESTION: 4
A user wants to increase the durability and availability of the EBS volume. Which of the below mentioned actions should he perform?
A. Create an AMI.
B. Take regular snapshots.
C. Create EBS with higher capacity.
D. Access EBS regularly.
Answer: B
Explanation:
In Amazon Web Services, Amazon EBS volumes that operate with 20 GB or less of modified data since their most recent snapshot can expect an annual failure rate (AFR) between 0.1% and 0.5%. For this reason, to maximize both durability and availability of their Amazon EBS data, the user should frequently create snapshots of the Amazon EBS volumes.
Reference: http://media.amazonwebservices.com/AWS_Storage_Options.pdf
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