ACAMS CAMS7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Detecting and Preventing Financial Crime | 20% | - Financial crime typologies
|
| Topic 2: AML Compliance Framework | 25% | - Roles and responsibilities
|
| Topic 3: Risk Management and Due Diligence | 25% | - Customer Due Diligence (CDD/KYC)
|
| Topic 4: Money Laundering and Terrorist Financing Concepts | 30% | - Global AML/CFT standards
|
ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions:
1. Which payment type presents the highest financial crime risk?
A) A payment made to a mixer platform
B) A bill payment made to a friend after splitting a dinner bill
C) A regular standing order to a high-interest savings account
D) A check returning a mortgage overpayment made in error
2. Which of the following programs would most likely be considered part of an effective supervision regime for a regulator?
A) Onsite reviews, cooperating on an international and domestic basis with outreach and access to a range of sanctions
B) Onsite and offsite reviews, cooperating on an international and domestic basis with access to a range of sanctions and outreach
C) Offsite reviews, cooperating on a domestic basis with access to a range of sanctions and outreach
D) Onsite and offsite reviews, cooperating on an international basis with access to a range of sanctions and outreach
3. According to the Financial Action Task Force (FATF) methodology, which situations would require a financial institution (FI) to consider filing a suspicious activity report?
A) A FI identifies the payer is a dealer in precious metals or stones.
B) A transaction involves funds exchanged from crypto to fiat currencies.
C) A FI is unable to verify the relevant customer due diligence documents.
D) A beneficiary of a transaction is a politically exposed person.
4. Cryptocurrency-related technologies that can be exploited by money launderers include: (Select Two.)
A) generative copilots.
B) small language models.
C) crypto-mixers.
D) privacy coins.
5. The chief compliance officer at a global bank that operates in the US, EU, and other countries is responsible for navigating the US and EU regulations related to anti-money laundering (AML) and sanctions as well as any local regulations in the countries where it operates. What should be the primary compliance concern of the bank?
A) The EU's sanctions regime is stricter than that of the US Office of Foreign Assets Control (OFAC), so the bank must prioritize compliance with EU regulations over US laws and train the staff in Europe accordingly
B) US anti-money laundering regulations are stricter than the EU AML Directives, making it easier for the global bank to be compliant in the EU
C) Balancing compliance with the US BSA and OFAC sanctions while ensuring adherence to EU AML directives and the GDPR, which complicates cross-border data sharing
D) US and EU regulations require the bank to build separate compliance teams, making it necessary to establish completely separate systems for US and EU operations
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: C,D | Question # 5 Answer: C |
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