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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Understanding Risks and Methods of Financial Crime30%- Financial Crime Risks related to gaming and gambling
- Financial Crime Risks related to insurance products
- Financial Crime Risks related to trusts and company service providers
- Financial Crime Risks related to MSBs, PSPs, and ecommerce platforms
- Financial Crime Risks related to VASPs, cryptoassets, and related products
- Financial Crime Risks related to real estate
- Financial Crime Risks related to Politically Exposed Persons (PEPs) and high-risk customers
- Financial Crime Risks related to gatekeepers
- Financial Crime Risks related to products within other financial sectors
Tools and Technologies to Fight Financial Crime
Global AFC Frameworks, Governance and Regulations- AML Regulatory Framework (Elective options: Canada, EU, UK, USA)
Building an AFC Compliance Program

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q190-Q195):

NEW QUESTION # 190
Which criminal activities could possibly serve as a predicate offense to financial crimes or money laundering activity? (Select Three.)

Answer: A,D,E

Explanation:
Predicate offenses are crimes that generate proceeds which may subsequently be laundered. FATF standards and national AML laws define a wide range of serious crimes as predicate offenses.
Bribery and corruption are among the most common predicate offenses, often involving large illicit payments that require laundering to disguise their origin. Fraud, including financial, consumer, and corporate fraud, is another primary source of illicit proceeds and is universally recognized as a predicate offense.
Organized crime and racketeering encompass coordinated criminal activities designed to generate ongoing illegal income, making them central predicate offenses under AML frameworks.
While arson may be considered a serious crime in some jurisdictions, and assault is generally not associated with financial gain, AML regimes focus primarily on crimes that generate substantial proceeds. Therefore, bribery, fraud, and organized crime are the most consistently recognized predicate offenses across jurisdictions.


NEW QUESTION # 191
Which of the below would be relevant money laundering red flags for life insurance companies?
(Select Two.)

Answer: A,E

Explanation:
Paying premium several years in advance and terminating early for a refund (A):"A typical red flag is when a policyholder pays large premiums up front and then seeks early termination to receive a refund. This can be used to launder illicit funds by integrating them into the financial system and then retrieving `clean' money." Regularly switching policies and accepting penalties (D):"Frequent changes in insurance policies or products, even at a financial loss, are considered suspicious. This may indicate an attempt to obscure the money trail or integrate illicit proceeds."


NEW QUESTION # 192
Trust and company service providers (TCSPs) should address money laundering risk by: (Select Three.)

Answer: B,C,E

Explanation:
Trust and company service providers (TCSPs) are classified as higher-risk entities under FATF guidance due to their role in forming and managing legal structures. As a result, TCSPs must implement robust AML controls to mitigate misuse for money laundering.
A key requirement is gathering and recording detailed client information, including the purpose of the legal entity and the identity of managers and ultimate beneficial owners (UBOs). This supports effective customer due diligence and transparency.
TCSPs must also apply additional safeguards when relying on instructions from another TCSP, particularly one located in a different jurisdiction. Reliance on intermediaries increases risk and requires enhanced scrutiny.
Additionally, TCSPs should document the basis on which they act as a registered officer and retain records of their involvement. This ensures accountability and traceability in line with record-keeping obligations.
Requiring clients to submit AML self-assessments to an FIU and conducting onsite evaluations are not standard or required practices under AML frameworks.


NEW QUESTION # 193
What are the key anti-financial crime (AFC) regulatory bodies in the United States and the European Union and their respective roles?

Answer: D

Explanation:
In the United States, anti-financial crime responsibilities are divided between specialized authorities. The Financial Crimes Enforcement Network (FinCEN) administers and enforces the Bank Secrecy Act (BSA) and focuses on anti-money laundering and counter-terrorist financing.
The Office of Foreign Assets Control (OFAC) administers and enforces US economic and trade sanctions.
In the European Union, the European Commission is responsible for proposing AML/CFT legislation, such as the AML Directives and the AML Regulation. Enforcement is carried out by individual EU member states through national supervisory and law enforcement authorities, with coordination increasingly provided by the EU Anti-Money Laundering Authority (AMLA).
Other bodies such as the EBA and ESMA play supporting supervisory or standard-setting roles but are not the primary sanctions authorities.


NEW QUESTION # 194
Money services businesses (MSBs), payment service providers, and e-commerce platforms usually have a high volume of daily transactions. What are the risks associated with these types of businesses? (Choose two.)

Answer: A,D

Explanation:
E-commerce platforms face KYC challenges due to a global and diverse customer base, making due diligence complex, while criminals may exploit identity fraud to pass KYC checks and facilitate layering in money laundering schemes. These factors increase the financial crime risks for such businesses.


NEW QUESTION # 195
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