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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Understanding Risks and Methods of Financial Crime	30%	- Financial Crime Risks related to VASPs, cryptoassets, and related products - Financial Crime Risks related to products within other financial sectors - Financial Crime Risks related to real estate - 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 gatekeepers - Financial Crime Risks related to insurance products - Financial Crime Risks related to Politically Exposed Persons (PEPs) and high-risk customers - Financial Crime Risks related to gaming and gambling
Global AFC Frameworks, Governance and Regulations		- AML Regulatory Framework (Elective options: Canada, EU, UK, USA)
Building an AFC Compliance Program
Tools and Technologies to Fight Financial Crime

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q346-Q351):

NEW QUESTION # 346
The relationship manager in the corporate banking department at a bank is required to take specialized AML training tailored to the risks the department is most likely to encounter.
Which types of content are most appropriate for this training? (Select Two.)

A. Money laundering typologies applicable to corporate loans
B. Money laundering typologies applicable to monetary instrument reporting
C. Regulatory exam best practices
D. Applicable AML laws and regulations

Answer: A,D

Explanation:
Specialized AML training must be relevant to the specific risks the corporate banking team faces, including legal/regulatory expectations and the ML/TF typologies applicable to their products and customer base.
* Applicable AML laws and regulations (B):"Staff must be aware of the applicable AML/CFT laws and regulatory requirements relevant to their business area."(CAMS 6th Edition, Chapter: AML Training and Awareness)
* Money laundering typologies applicable to corporate loans (D):"Training should include typologies and red flags that are most relevant to the risks present in the specific business line, such as corporate lending."(CAMS 6th Edition, AML Training for High-Risk Departments) Incorrect Options:
* A: Monetary instrument reporting is more relevant to retail/branch banking.
* C: Regulatory exam best practices are for compliance teams, not business-line relationship managers.
References:
CAMS 6th Edition, AML Training and Awareness
FATF Guidance: Risk-Based Approach to Banking Sector

NEW QUESTION # 347
Which customer would generally require enhanced due diligence?

A. Student savings account holder
B. Publicly listed domestic company
C. Local salaried employee with stable transactions
D. Foreign politically exposed person

Answer: D

Explanation:
Foreign politically exposed persons present elevated corruption and bribery risks because of their prominent public positions and potential access to state resources. AML frameworks generally require enhanced due diligence, senior management approval, and ongoing monitoring for higher-risk PEP relationships.

NEW QUESTION # 348
The financial industry relies heavily on rules-based approaches to transaction monitoring to detect suspicious activities.
Scenario-based systems use technology and algorithms to identify: (Choose three.)

A. fraudulent identities involving stolen or manufactured identification.
B. suspicious behavior involving a transaction that occurs at an unusual time of day.
C. hidden beneficial owners.
D. anomalies involving a transaction that occurs in a location far away from the customer's usual spending patterns.
E. transaction patterns involving transactions that exceed a certain dollar amount.

Answer: B,D,E

Explanation:
Scenario-based systems use algorithms to detect suspicious behaviors, such as transactions occurring at unusual times, those exceeding specified thresholds, or those taking place in locations inconsistent with a customer's typical activity. These anomalies help identify potential financial crime risks.

NEW QUESTION # 349
A compliance officer is completing a case and has determined that the events do not merit filing a suspicious activity report (SAR).
Which of the following should be included in the case notes to justify not filing a SAR? (Choose two.)

A. How much money was involved in the case
B. Why the officer deemed that the case did not merit filing a SAR
C. When the unusual activity occurred
D. Who made the decision not to file the SAR
E. How the money flowed through the institution

Answer: B,D

Explanation:
Case notes should document who made the decision and the rationale for not filing the SAR to ensure transparency, support auditability, and demonstrate compliance with regulatory expectations.

NEW QUESTION # 350
The compliance officer at an EU bank is investigating one of the customer accounts maintained with the bank for the last two years. According to bank records, the company's primary economic activity is import and export of petrochemical products Over a period of one year, the account transactions have exceeded US$500 million with various high-value inward wire transfers received from suppliers in Yemen followed by outward wire transfers to counterparties in Azerbaijan. Which factor should give the compliance officer the greatest concern If observed in the investigation?

A. The customer specializes in the import and export of petrochemical products.
B. The EU bank considers the origin and destination countries Involved in the transactions to be high-risk.
C. The EU bank received no originator or beneficiary information for the wire transfers.
D. The customer's activity includes multiple cross-border transactions involving various counterparties.
E. Media searches reveal a report that the customer was accused of misconduct three years ago.

Answer: C

NEW QUESTION # 351
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