ACAMS CAMS7 Reliable Exam Simulations | CAMS7 Training Material

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ACAMS CAMS7 Exam Syllabus Topics:

Section Weight Objectives
Topic 1: Global Anti-Financial Crime Frameworks, Governance and Regulations 24% - Governance, accountability and ethics
  • 1. Roles of board, senior management and compliance function
  • 2. Ethical obligations and professional standards
- International standards and bodies
  • 1. Basel Committee, Wolfsberg Group, UN conventions
  • 2. FATF 40 Recommendations
- Regional and national regulations
  • 1. EU AML Directives
  • 2. USA PATRIOT Act and extraterritorial laws
Topic 2: Tools, Technologies and Investigations 22% - Remediation and response
  • 1. Corrective actions and regulatory engagement
- Technology and systems
  • 1. Monitoring systems, screening tools, data analytics
  • 2. Cryptoasset and virtual asset compliance
- Investigation processes and evidence handling
  • 1. Case management and escalation
  • 2. Cooperation with authorities and information sharing
Topic 3: Understanding Risks and Methods of Financial Crime 26% - Money laundering stages and techniques
  • 1. Placement, layering, integration
  • 2. Methods across financial sectors and businesses
- Financial crime risks and consequences
  • 1. Institutional, individual, economic and social impacts
- Sanctions regimes and compliance risks
  • 1. UN, EU, OFAC frameworks
  • 2. Risk identification and mitigation
- Terrorism financing and proliferation financing
  • 1. Sources and mechanisms
  • 2. Distinctions from money laundering
Topic 4: Building and Managing Anti-Financial Crime Compliance Programs 28% - Monitoring, reporting and record keeping
  • 1. Legal record retention requirements
  • 2. Suspicious activity reporting (SAR/STR)
  • 3. Transaction monitoring and alert management
- Program framework and policies
  • 1. Policies, procedures and controls design
  • 2. Risk assessment and risk-based approach
- Audit, testing and continuous improvement
- Customer due diligence and know-your-customer
  • 1. politically exposed persons and high-risk clients
  • 2. CDD, EDD, beneficial ownership identification
- Training, awareness and internal communication

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q14-Q19):

NEW QUESTION # 14
An AML compliance officer is drafting plans to address deficiencies identified in an independent audit. Which approach is the best option?

  • A. Only commit to action plans that require no new investment to maximize shareholder value
  • B. Only commit to action plans that can be implemented and closed within the three-month management reporting cycle
  • C. Draft action plans to address the root cause of the deficiencies, regardless of how long they will take to fully implement
  • D. Draft action plans in consultation with the jurisdiction's FIU to remain aligned with other similar companies

Answer: C


NEW QUESTION # 15
Public-private partnerships (PPPs) that involve the sharing of information between law enforcement authorities. Financial Intelligence Units (FIUs), and the private sector are established to: (Choose two.)

  • A. exchange strategic information between financial institutions
  • B. create a common database of key information and share analysis of suspicious activities with FATF
  • C. exchange operational information between public authorities and obliged entities
  • D. exchange strategic information between FlUs and obliged entities

Answer: C,D

Explanation:
Public-private partnerships facilitate strategic information exchange between FIUs and obliged entities and operational information sharing between public authorities and obliged entities, improving collaboration and effectiveness in detecting and preventing financial crime.


NEW QUESTION # 16
According to PinCEN. when a financial institution (PI) identities a suspicious activity that necessitates suspicious activity report (SAR) filing, the SAR supporting documentation should (Select Two.)

  • A. be saved in a single separate file with hard copies stored in a fireproof cabinet.
  • B. include all documents or records that assisted the Fl in making the determination that the activity required a filing.
  • C. always be limited to account name, account details, and transaction records.
  • D. have written policies and procedures to maintain supporting documentation.

Answer: B,D


NEW QUESTION # 17
Which action BEST demonstrates ongoing customer due diligence?

  • A. Verifying identity only once at account opening
  • B. Ignoring low-value transactions entirely
  • C. Closing accounts every year automatically
  • D. Reviewing customer risk periodically after onboarding

Answer: D

Explanation:
Customer due diligence is not limited to onboarding. Ongoing monitoring ensures institutions identify changes in customer behavior, ownership, geographic exposure, or transactional activity.
Periodic reviews help maintain accurate customer profiles and strengthen the institution's ability to detect suspicious conduct over time.


NEW QUESTION # 18
Which of the following are AML risks associated with onboarding a high-risk customer? (Select Two.)

  • A. Greater potential for laundering illicit proceeds
  • B. Increased likelihood of engaging in financial crimes
  • C. Enhanced customer due diligence requirements
  • D. Reduced regulatory scrutiny compared to low-risk customers

Answer: A,B

Explanation:
High-risk customers present elevated money laundering and terrorist financing risks, requiring careful consideration before onboarding. FATF guidance emphasizes that higher-risk relationships demand stronger controls due to their increased vulnerability to misuse.
One key risk is the greater potential for laundering illicit proceeds. High-risk customers may operate in sectors, jurisdictions, or business models that are frequently abused for financial crime, increasing the likelihood that illicit funds could pass through the institution.
Another significant risk is the increased likelihood of involvement in financial crimes, either directly or indirectly. This may include exposure to corruption, fraud, sanctions evasion, or organized crime networks.
Enhanced due diligence is not a risk but rather a risk-mitigating control imposed by regulators. Reduced regulatory scrutiny is incorrect, as high-risk customers are subject to greater-not lesser-oversight.


NEW QUESTION # 19
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