CAMS-RM practice question 13 of 15

What are the objectives of risk identification and assessment?

Answer options

A: To maintain knowledge and skills for producing a risk assessment to an acceptable standard.

B: To introduce an appreciation of the risk assessment process and a recognition of the importance of policies and procedures. Correct answer

C: To develop knowledge and skills for managing a risk governance framework to an acceptable standard.

D: All of the above.

Correct Answer:

B. To introduce an appreciation of the risk assessment process and a recognition of the importance of policies and procedures.

Explanation

The primary objective of risk identification and assessment training is to familiarise staff with the risk-assessment process itself and emphasise the importance of adhering to documented policies and procedures; it is introductory in nature, not focused on advanced governance or specialist competence.

Why Incorrect

A. Concerns maintaining advanced skills—beyond introductory objectives.
C. Focuses on governing frameworks, not basic risk identification/assessment aims.
D. Includes options that exceed the stated introductory objectives, so “all” is incorrect.

References

1. FATF, “National Money Laundering and Terrorist Financing Risk Assessment” (2013), Sect. II, para 15.

2. ACAMS, “AML Risk Assessment Methodology” Webinar Deck (2022), Slide 5 “Training Objective.”

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