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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
AML Compliance Framework25%- Roles and responsibilities
  • 1. Governance and oversight
    • 2. Compliance officer duties
      - Compliance program components
      • 1. Internal controls
        • 2. Policies and procedures
          Money Laundering and Terrorist Financing Concepts30%- Global AML/CFT standards
          • 1. FATF Recommendations
            • 2. International regulatory frameworks
              - Definitions and stages of money laundering
              • 1. Terrorist financing typologies
                • 2. Placement, layering, integration
                  Risk Management and Due Diligence25%- Transaction monitoring and reporting
                  • 1. Suspicious Activity Reports (SAR/STR)
                    • 2. Monitoring systems and typologies
                      - Customer Due Diligence (CDD/KYC)
                      • 1. Customer identification programs (CIP)
                        • 2. Enhanced due diligence (EDD)
                          Detecting and Preventing Financial Crime20%- Financial crime typologies
                          • 1. Trade-based money laundering
                            • 2. Fraud and corruption schemes
                              - Investigations and enforcement
                              • 1. Regulatory investigations
                                • 2. Case management and documentation

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

                                  Which of the following best describes the use of fuzzy logic in customer screening systems?

                                  • A. It is a new technique for enhancing the quality of alerts for review
                                  • B. It allows for a greater number of exact matches, reducing the need for manual review
                                  • C. It produces outputs that include a range of intermediate possibilities between "Yes" and "No"
                                  • D. It is an advanced analytics tool widely used to implement AFC controls
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

                                  Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

                                  Which ancillary departments or operational areas can play an essential role in supporting a larger organization's Anti-Money Laundering and Economic Sanctions compliance program? (Choose three.)

                                  • A. Accounting
                                  • B. Model risk management
                                  • C. Fraud risk management
                                  • D. Marketing
                                  • E. Technology solutions and IT security
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,C,E  🗳️

                                  Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

                                  A large international financial institution (FI) operates in both the United States and the European Union. A cross-border transaction involving a high-net-worth client with dual U.S. and French citizenship raises concerns due to a third-party intermediary in a high-risk jurisdiction.
                                  Given that the transaction falls under the U.S. Bank Secrecy Act (BSA) and OFAC requirements, as well as the EU's 6th Anti-Money Laundering Directive (6AMLD) and European Banking Authority (EBA) regulations, what is the best approach for the compliance team to ensure compliance?

                                  • A. Implement a dual-compliance approach satisfying both U.S. and EU AFC regulations
                                  • B. Follow EU regulations only, as the beneficiary is based in France
                                  • C. Follow U.S. regulations only, as the transaction originates in the United States
                                  • D. Defer to the most stringent regulatory regime to streamline compliance
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

                                  Which measures help ensure that the name screening process is effective in identifying potential risk? (Select Three.)

                                  • A. Identify the most commonly used name screening database in the industry
                                  • B. Define in policies and procedures the screening scope, frequency, and alert adjudication process
                                  • C. Conduct regular testing to validate that the screening system is performing as expected
                                  • D. Assign a designated person to ensure consistent implementation of screening controls
                                  • E. Conduct a risk assessment to determine which data attributes to screen, screening frequency, and database selection
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B,C,E  🗳️

                                  Explanation: Only visible for ExamcollectionPass members. You can sign-up / login (it's free).

                                  Based on the AML principles outlined by the Wolfsberg Group, what do private and correspondent banks have in common when monitoring for terrorist financing?

                                  • A. Transaction monitoring examines the relationship between due diligence information and account closings.
                                  • B. Numbered or alternate name accounts will only be accepted if the bank has established the identity of the client and beneficial owner.
                                  • C. Cash access from a pre-paid card increases the potential that the card will be used for money laundering purposes.
                                  • D. Account and transactional activity are monitored after the proper identification and verification of customers.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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