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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)
Understanding Risks and Methods of Financial Crime	30%	- Financial Crime Risks related to insurance products - Financial Crime Risks related to products within other financial sectors - Financial Crime Risks related to Politically Exposed Persons (PEPs) and high-risk customers - Financial Crime Risks related to VASPs, cryptoassets, and related products - Financial Crime Risks related to trusts and company service providers - Financial Crime Risks related to real estate - Financial Crime Risks related to gatekeepers - Financial Crime Risks related to MSBs, PSPs, and ecommerce platforms - Financial Crime Risks related to gaming and gambling
Tools and Technologies to Fight Financial Crime
Building an AFC Compliance Program

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q86-Q91):

NEW QUESTION # 86
An institution outsources part of its AML monitoring process to a third-party vendor. Who remains ultimately responsible for AML compliance?

A. The regulator only
B. The third-party vendor exclusively
C. The financial institution's management
D. The customer relationship manager alone

Answer: C

Explanation:
Financial institutions remain responsible for AML compliance even when operational functions are outsourced. Senior management and the institution must ensure vendors maintain adequate controls, data protection, monitoring quality, and regulatory compliance. Outsourcing does not transfer legal accountability to third parties.

NEW QUESTION # 87
Which of the following is a common strategy employed by non-governmental organizations (NGOs) to combat money laundering?

A. Helping Financial Intelligence Units (FIUs) to analyze the suspicious activity reports (SARs)
B. Providing financial assistance to governments to strengthen their anti-money laundering efforts
C. Directly prosecuting money launderers in court
D. Raising awareness about the issue of money laundering and its consequences

Answer: D

Explanation:
D: NGOs play an important role in raising awareness about money laundering, lobbying for strong AML/CFT laws, and educating the public and stakeholders about the risks and consequences.
"NGOs help combat money laundering primarily through advocacy, education, and raising public and industry awareness."(CAMS 6th Edition, Role of NGOs in AML/CFT) References:
CAMS 6th Edition, Awareness and Advocacy in AML/CFT
FATF, Outreach to NGOs

NEW QUESTION # 88
An AML analyst at a bank is investigating cases triggered by transaction monitoring alerts. Which circumstances might cause the analyst to suspect a case involves terrorist financing? (Select Two.)

A. Transactions involving structured currency deposits below the reporting threshold to avoid paying taxes
B. Transactions involving non-profit organizations with no internet presence
C. Small dollar payments sent to crowdfunding initiatives with detailed descriptions of the project being financed
D. Small dollar payments sent to higher-risk jurisdictions with no prior history
E. Transactions involving domestic non-profit organizations providing charitable aid to refugees from higher-risk countries

Answer: B,D

NEW QUESTION # 89
Which of the following is a benefit of public-private partnerships (PPP)?

A. Sourcing of key resources
B. Rapid exchange of information on risks and high-risk activities or persons
C. Obtaining salaries in the financial industry
D. Ensuring understanding of politically exposed persons (PEPs)

Answer: B

Explanation:
Public-private partnerships (PPPs) are a key component of modern AML/CFT frameworks and are strongly encouraged by FATF and national regulators. Their primary benefit lies in enhancing timely and effective information sharing between financial institutions, regulators, law enforcement, and financial intelligence units (FIUs).
Through PPPs, authorities can share typologies, red flags, and emerging threat intelligence, while private institutions contribute operational insights derived from real transaction data. This rapid exchange of information on risks, high-risk activities, and suspicious actors significantly improves the detection and prevention of money laundering and terrorist financing.
PPPs do not exist to source staffing resources, provide salaries, or ensure basic understanding of regulatory concepts such as PEPs, which are already addressed through standard AML requirements. Their true value is the speed, quality, and relevance of shared intelligence, allowing participants to respond more effectively to evolving financial crime threats.

NEW QUESTION # 90
Which of the following best describes the degree of cooperation between regulatory authorities, law enforcement agencies, and Financial Intelligence Units (FIUs) during money laundering investigations, including cross-border cases?

A. Law enforcement agencies and FIUs only cooperate during domestic investigations, leaving cross-border investigations to international organizations like INTERPOL.
B. FIUs primarily handle reporting from financial institutions, while regulatory authorities and law enforcement agencies are limited to enforcing domestic AML laws without international cooperation.
C. Regulatory authorities primarily work independently but share information when requested by international law enforcement agencies.
D. Regulatory authorities, law enforcement agencies, and FIUs share intelligence and coordinate efforts to streamline cross-border money laundering investigations, often through formal agreements.

Answer: D

Explanation:
"Cooperation and coordination between regulatory authorities, law enforcement agencies, and FIUs are essential for effective AML investigations, especially in cross-border cases. This is often accomplished through formal agreements, MOUs, and information-sharing mechanisms."

NEW QUESTION # 91
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