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ACAMS CAMS7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Detecting and Preventing Financial Crime | 20% | - Financial crime typologies
|
| Risk Management and Due Diligence | 25% | - Customer Due Diligence (CDD/KYC)
|
| Money Laundering and Terrorist Financing Concepts | 30% | - Global AML/CFT standards
|
| AML Compliance Framework | 25% | - Compliance program components
|
ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions:
1. An international bank is headquartered in Madrid, Spain with an office in New York City (NYC), US. The Madrid office is investigating a transaction originating from a customer of the NYC office and inquires whether the NYC office can share any relevant further information on the individual.
Upon further research, the NYC office finds that they have filed a suspicious activity report (SAR) on the individual in the previous year. Which factors need to be considered before sharing the requested information? (Select Two.)
A) The bank should consider jurisdictional privacy requirements and its own policies and procedures to determine what information to share.
B) The foreign bank must always request approval by its national anti-financial crime authority to share any information cross-border.
C) The bank should report this to the Financial Crimes Enforcement Network (FinCEN) and receive formal guidance before sharing the information.
D) The information should only be shared on a need-to-know basis.
2. A customer deposits cash amounts just below reporting thresholds at multiple branches over several weeks. The customer claims the funds come from restaurant sales but refuses to provide business records. Which money laundering stage is MOST likely represented?
A) Placement
B) Layering
C) Integration
D) Concealment
3. What are the primary advantages of using open-source tools in financial crime investigations?
(Choose two.)
A) Cost-effective access to a wide range of data
B) Ability to conduct investigations with minimal human oversight
C) Real-time monitoring of selected transactions and data sources
D) Enhanced ability to identity connections across various data sets
E) Partial automation of data collection and analysis
4. A bank has joined a public-private partnership (PPP) to work with law enforcement and regulators on combating financial crime. However, the bank's data protection officer is concerned about sharing sensitive customer data, and the compliance officer is worried about potential delays in receiving useful information from the government. Which of the following best describes a benefit of PPPs in fighting financial crime?
A) PPPs maximize the efficiency of the bank's compliance program by providing real-time intelligence from law enforcement.
B) PPPs help banks reduce compliance costs by automating information sharing.
C) PPPs improve financial crime detection and prevention by sharing intelligence between banks and law enforcement.
D) PPPs allow banks to manage their own suspicious activity report (SAR) filing process without the need to involve the Financial Intelligence Unit (FIU).
5. Which of the following processes or tools contribute to AML compliance despite being seemingly unrelated? (Choose two.)
A) Product usage analysis
B) Customer support ticket tracking
C) Customer loyalty program tracking
D) Customer satisfaction surveys
E) Credit risk assessment
Solutions:
| Question # 1 Answer: A,D | Question # 2 Answer: A | Question # 3 Answer: A,E | Question # 4 Answer: A | Question # 5 Answer: A,C |
