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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Global AFC Frameworks, Governance and Regulations		- AML Regulatory Framework (Elective options: Canada, EU, UK, USA)
Tools and Technologies to Fight Financial Crime
Building an AFC Compliance Program
Understanding Risks and Methods of Financial Crime	30%	- Financial Crime Risks related to gaming and gambling - Financial Crime Risks related to gatekeepers - Financial Crime Risks related to trusts and company service providers - 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 real estate - Financial Crime Risks related to VASPs, cryptoassets, and related products - Financial Crime Risks related to MSBs, PSPs, and ecommerce platforms - Financial Crime Risks related to products within other financial sectors

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q405-Q410):

NEW QUESTION # 405
A financial institution is designing an enterprise-wide risk assessment (EWRA). According to the guidance issued by the Wolfsberg Group regarding a risk-based approach to identifying and managing money laundering risks, an effective approach should:

A. Use a framework provided by a third-party vendor and used by other FIs in the jurisdiction.
B. Include appropriate measures and controls to mitigate money laundering risks stemming from higher-risk customers, products, and geographies.
C. Focus on the inherent risk in the FI's product and service offerings and the controls to mitigate potential money laundering risks.
D. Focus on understanding the risks presented by new clients within the assessment period, and the controls to mitigate associated money laundering risks.

Answer: B

NEW QUESTION # 406
Potential risk indicators for a trade counterparty in trade-based money laundering include: (Select Three.)

A. Irregular or inconsistent trade volume and frequency that does not align with the historical trading behavior of the counterparty
B. Cash deposits or other transactions consistently below the relevant reporting thresholds
C. Contracts, invoices, or other trade documents containing detailed descriptions of the traded commodities
D. Transparent pricing structures with additional information provided to the receiving bank when pricing fluctuates by ±10%
E. Engaging in transactions and shipping routes or methods that are not in line with standard business practices

Answer: A,B,E

Explanation:
Trade-Based Money Laundering (TBML) is a recognized method used to move and disguise illicit funds through trade transactions. Regulatory guidance from FATF highlights several red flags that may indicate TBML risks.
Irregular or inconsistent trade volume and frequency that deviates from a counterparty's historical activity can suggest artificial or manipulated transactions. This behavior may indicate over- or under-invoicing or fictitious trade.
Structuring transactions below reporting thresholds, such as repeated cash deposits just under regulatory limits, is a classic money laundering technique used to avoid detection and reporting obligations.
Engaging in unusual shipping routes, methods, or counterparties that do not align with normal business practices is another key TBML indicator. Criminals often use complex or illogical logistics to obscure the true nature of transactions.
Conversely, detailed trade documentation and transparent pricing with proactive explanations are indicators of legitimate trade activity and reduce AML risk rather than increase it.

NEW QUESTION # 407
Which of the below is a core function of a financial intelligence unit (FIU) as described in FATF Recommendation 29?

A. Prosecuting significant cases of money laundering or terrorist financing falling under national jurisdiction
B. Serving as a national center for the collection and analysis of suspicious activity
C. Sharing real-time criminal intelligence gathered from national law enforcement agencies with the private sector
D. Sponsoring the research and development of advanced technological surveillance tools to be used nationally

Answer: B

Explanation:
FATF Recommendation 29 states that an FIU should serve as a national center for the receipt and analysis of suspicious transaction reports and other information relevant to money laundering and terrorist financing.
"The FIU should serve as a national center for the receipt and analysis of suspicious transaction reports (STRs) and other information relevant to ML/TF, and for the dissemination of the results of that analysis."

NEW QUESTION # 408
Which statement about terrorist financing is MOST accurate?

A. It always involves large transaction amounts
B. It only occurs through cash smuggling
C. It is unrelated to sanctions compliance
D. Legitimate funds can also finance terrorism

Answer: D

Explanation:
Unlike traditional money laundering, terrorist financing may involve both illicit and legitimate funds. Even small-value transactions can support terrorist operations. AML programs must therefore monitor unusual behavioral patterns, geographic exposure, and customer activity rather than relying solely on transaction size.

NEW QUESTION # 409
Which of the following can be considered a reliable, independent source document, data, or information?

A. Information provided by a prospective customer
B. Photocopy of a copy of a government-issued identity document
C. Information obtained from an open-source database
D. Information obtained directly from a government-managed registry

Answer: D

Explanation:
Information obtained directly from a government-managed registry is considered a reliable, independent source because it is authoritative, verified, and maintained by an official source, reducing the risk of inaccuracies or manipulation.

NEW QUESTION # 410
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