Certified Anti-Money Laundering Specialist Certification (CAMS) Practice Exam

What services are commonly offered by a 'Bureau de Change'?

1. Real estate investment and management

2. Foreign currency exchange and telegraphic transfer facilities

3. Personal loan services and savings accounts

4. Insurance and brokerage services

The correct answer is: Foreign currency exchange and telegraphic transfer facilities

The correct choice highlights the primary functions of a 'Bureau de Change,' which mainly involves foreign currency exchange and telegraphic transfer facilities. These establishments are specifically designed to provide clients with the ability to exchange their home currency for foreign currencies, catering primarily to travelers and businesses engaged in international transactions. Telegraphic transfers, also known as wire transfers, are essential services offered by Bureau de Change, allowing for the swift transfer of funds across borders. This service is particularly valuable for individuals needing to send money internationally, whether for remittances, business purposes, or personal transactions. The other options encompass services that generally fall outside the scope of what a Bureau de Change typically offers. For instance, real estate investment and management involves property dealings, which is not part of currency exchange services. Similarly, personal loan services and savings accounts relate more to banking institutions, while insurance and brokerage services focus on different financial sectors, such as risk management and investment respectively. Thus, these services are not aligned with the primary role of a Bureau de Change.