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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
AML Compliance Framework25%- Compliance program components
  • 1. Policies and procedures
    • 2. Internal controls
      - Roles and responsibilities
      • 1. Compliance officer duties
        • 2. Governance and oversight
          Money Laundering and Terrorist Financing Concepts30%- Definitions and stages of money laundering
          • 1. Terrorist financing typologies
            • 2. Placement, layering, integration
              - Global AML/CFT standards
              • 1. FATF Recommendations
                • 2. International regulatory frameworks
                  Detecting and Preventing Financial Crime20%- Financial crime typologies
                  • 1. Fraud and corruption schemes
                    • 2. Trade-based money laundering
                      - Investigations and enforcement
                      • 1. Regulatory investigations
                        • 2. Case management and documentation
                          Risk Management and Due Diligence25%- Transaction monitoring and reporting
                          • 1. Monitoring systems and typologies
                            • 2. Suspicious Activity Reports (SAR/STR)
                              - Customer Due Diligence (CDD/KYC)
                              • 1. Customer identification programs (CIP)
                                • 2. Enhanced due diligence (EDD)

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                                  ACAMS CAMS7 exam practice questions and answers

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                                  ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q19-Q24):

                                  NEW QUESTION # 19
                                  A credit institution has been served with a preliminary findings report highlighting major deviations from AML obligations and stating that it faces the possible withdrawal of its banking license.
                                  Which authority could have issued the report?

                                  Answer: C

                                  Explanation:
                                  An AML supervisory authority is responsible for overseeing compliance with AML/CFT obligations and has the legal power to conduct inspections, issue findings, impose sanctions, and recommend or enforce license withdrawal.
                                  Supervisory authorities assess whether institutions comply with national AML laws and regulatory standards. When major deficiencies are identified, they may issue a preliminary findings report outlining violations and potential enforcement actions, including license revocation.
                                  Self-regulatory bodies lack the authority to withdraw banking licenses. Law enforcement agencies investigate criminal activity but do not supervise institutions or issue compliance findings reports.
                                  FATF is an international standard-setting body and does not conduct institution-level enforcement or issue sanctions.
                                  Therefore, only an AML supervisory authority could issue such a report.


                                  NEW QUESTION # 20
                                  Which of the following statements is true regarding Office of Foreign Assets Control (OFAC) sanctions? (Select Two.)

                                  Answer: B,D

                                  Explanation:
                                  OFAC sanctions are a key element of the U.S. AML/CFT framework. According to the CAMS 6th Edition and OFAC regulations:
                                  Blocked funds must be placed into an interest-bearing account on a financial institution's books (B):"Blocked property must be held in a separate interest-bearing account on the books of the U).S. financial institution." Sanctions can be either comprehensive or selective using the blocking of assets and trade restrictions (C):"OFAC administers both comprehensive and targeted (selective) sanctions programs to fulfill U.S. foreign policy and national security goals."


                                  NEW QUESTION # 21
                                  Which of the following are common indicators of possible money laundering within the securities industry? (Select Two.)

                                  Answer: A,D


                                  NEW QUESTION # 22
                                  Non-compliance with relevant anti-money laundering laws and regulations can result in: (Select Two.)

                                  Answer: B,D


                                  NEW QUESTION # 23
                                  Which risks inherent to real estate sector carry the highest AML/CFT risk? (Select Two.)

                                  Answer: B,C

                                  Explanation:
                                  Real estate ML/TF risk is highest where transparency is low or the origin of funds is obscured:
                                  * Use of cash to purchase property (A):"All-cash transactions in real estate present a high ML risk, as they bypass traditional financial scrutiny and facilitate the placement of illicit funds."(CAMS 6th Edition, Real Estate Money Laundering Risks)
                                  * Use of a company for the purchase of property (D):"Purchasing property through companies, especially shell companies, can conceal the beneficial owner and the true source of funds."(CAMS 6th Edition, Real Estate ML/TF Risks; FATF, Real Estate Sector) Incorrect Options:
                                  * B: Unlicensed agents may be risky, but the core risks are A and D.
                                  * C: Trusts may add complexity but are less common/high-risk than company structures.
                                  * E: Value manipulation is risky but less so than the above.
                                  References:
                                  CAMS 6th Edition, ML/TF Risks in Real Estate
                                  FATF, Money Laundering and Terrorist Financing through the Real Estate Sector


                                  NEW QUESTION # 24
                                  ......

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