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ACAMS CAMS7 Exam Overview:

Certification Vendor:ACAMS
Exam Name:Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Exam Number:CAMS7
Certificate Validity Period:3 years
Available Languages:English, Spanish, Simplified Chinese, Traditional Chinese, Arabic, French, German, Japanese, Korean, Portuguese, Russian
Passing Score:75 (scaled score)
Exam Duration:210 minutes
Exam Format:Multiple-choice, Multiple-selection, Scenario-based questions
Real Exam Qty:120
Related Certifications:Certified Cryptoasset Anti-Financial Crime Specialist (CCAS)
Certified Global Sanctions Specialist (CGSS)
Exam Price:USD 595 (members), USD 795 (non-members); Bundle: USD 1,795 (members)
Recommended Training:ACAMS Virtual Classroom
CAMS 7th Edition Official Study Guide
Exam Registration:Pearson VUE Scheduling
ACAMS Official Registration
Sample Questions:ACAMS CAMS7 Sample Questions
Exam Way:Online proctored (OnVUE) or onsite at Pearson VUE test centers
Pre Condition:Active ACAMS membership; minimum 40 eligibility credits from education, professional experience or training; 3 professional references
Official Syllabus URL:https://www.acams.org/en/certifications/cams-certification

ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Tools, Technologies and Investigations22%- Technology and systems
  • 1. Cryptoasset and virtual asset compliance
  • 2. Monitoring systems, screening tools, data analytics
- Investigation processes and evidence handling
  • 1. Cooperation with authorities and information sharing
  • 2. Case management and escalation
- Remediation and response
  • 1. Corrective actions and regulatory engagement
Global Anti-Financial Crime Frameworks, Governance and Regulations24%- Regional and national regulations
  • 1. EU AML Directives
  • 2. USA PATRIOT Act and extraterritorial laws
- Governance, accountability and ethics
  • 1. Roles of board, senior management and compliance function
  • 2. Ethical obligations and professional standards
- International standards and bodies
  • 1. FATF 40 Recommendations
  • 2. Basel Committee, Wolfsberg Group, UN conventions
Building and Managing Anti-Financial Crime Compliance Programs28%- 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
- Monitoring, reporting and record keeping
  • 1. Legal record retention requirements
  • 2. Transaction monitoring and alert management
  • 3. Suspicious activity reporting (SAR/STR)
- Program framework and policies
  • 1. Policies, procedures and controls design
  • 2. Risk assessment and risk-based approach
- Audit, testing and continuous improvement
Understanding Risks and Methods of Financial Crime26%- Financial crime risks and consequences
  • 1. Institutional, individual, economic and social impacts
- Money laundering stages and techniques
  • 1. Placement, layering, integration
  • 2. Methods across financial sectors and businesses
- Terrorism financing and proliferation financing
  • 1. Distinctions from money laundering
  • 2. Sources and mechanisms
- Sanctions regimes and compliance risks
  • 1. Risk identification and mitigation
  • 2. UN, EU, OFAC frameworks

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

1. Which changes at a financial institution (FI) should trigger an enterprise-wide reassessment of its inherent AML risk exposure? (Select Three.)

A) Use of new technologies for delivering existing products
B) Mergers or acquisitions
C) Introduction of new products or services
D) Restructuring of the FI's risk and compliance functions
E) Changes in the individuals overseeing the FI's product lines and sales strategies


2. Common risks and red flags associated with trade finance clients may include: (Choose four.)

A) account activity that is not consistent with the purpose of the account
B) bills of lading matching the description of goods, quantities, and values with transshipment details justified
C) fluctuations in the pricing of standard goods and services
D) trade documents, such as invoices and letters of credit, that are not clearly worded or are in foreign languages
E) invoices with prices that are much higher than market price
F) transaction structures that appear unnecessarily complex


3. Which of the following scenarios warrants enhanced due diligence (EDD)? (Select Three.)

A) A bank located in a higher risk country trying to establish a correspondent-respondent banking relationship with a bank in a lower-risk country
B) The current prime minister of a country trying to open a bank account in another country
C) An existing local league footballer trying to open a bank account with a bank in their local jurisdiction
D) An individual with a current bank account who resides in one country becoming the ambassador of another country
E) The former personal secretary to the minister of transport in a low-risk country 25 years ago opening a bank account at a bank in a neighboring low-risk country


4. The Wolfsberg Group's 2012 "Principles (or Private Banking" established that.

A) private banks need to better coordinate and align their global AML control environment strategies.
B) risk based approaches are insufficient to address the heightened risk presented through private banking
C) private banks agree that transparency of client beneficial ownership Is necessary and appropriate.
D) due diligence requirements tor private banking customers are necessary to prevent predicate offenses.


5. 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


Solutions:

Question # 1
Answer: A,B,C
Question # 2
Answer: A,D,F
Question # 3
Answer: A,B,D
Question # 4
Answer: C
Question # 5
Answer: A

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