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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Understanding Risks and Methods of Financial Crime	26%	- Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Terrorism financing and proliferation financing 1. Sources and mechanisms 2. Distinctions from money laundering - Sanctions regimes and compliance risks 1. Risk identification and mitigation 2. UN, EU, OFAC frameworks - Money laundering stages and techniques 1. Methods across financial sectors and businesses 2. Placement, layering, integration
Topic 2: Tools, Technologies and Investigations	22%	- Investigation processes and evidence handling 1. Case management and escalation 2. Cooperation with authorities and information sharing - Remediation and response 1. Corrective actions and regulatory engagement - Technology and systems 1. Monitoring systems, screening tools, data analytics 2. Cryptoasset and virtual asset compliance
Topic 3: Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- Regional and national regulations 1. EU AML Directives 2. USA PATRIOT Act and extraterritorial laws - Governance, accountability and ethics 1. Roles of board, senior management and compliance function 2. Ethical obligations and professional standards - International standards and bodies 1. Basel Committee, Wolfsberg Group, UN conventions 2. FATF 40 Recommendations
Topic 4: Building and Managing Anti-Financial Crime Compliance Programs	28%	- Program framework and policies 1. Risk assessment and risk-based approach 2. Policies, procedures and controls design - Customer due diligence and know-your-customer 1. CDD, EDD, beneficial ownership identification 2. politically exposed persons and high-risk clients - Monitoring, reporting and record keeping 1. Suspicious activity reporting (SAR/STR) 2. Transaction monitoring and alert management 3. Legal record retention requirements - Training, awareness and internal communication - Audit, testing and continuous improvement

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q34-Q39):

NEW QUESTION # 34
In the process of mutual evaluations and subsequent follow-ups used by the Financial Action Task Force (FATF) to assess the quality of various jurisdictions' AML controls, the FATF:

A. publishes annual reports ranking all member jurisdictions based on their self-assessment of AML controls.
B. conducts on-site inspections of financial institutions in jurisdictions with lax AML controls to identify deficiencies and recommend improvements.
C. conducts a peer review process whereby member countries assess the AML controls of other jurisdictions and provide recommendations for improvement.
D. imposes economic sanctions on jurisdictions with lax AML controls to force them to strengthen their controls.

Answer: C

Explanation:
The FATF conducts mutual evaluations--a peer review process--whereby member countries assess each other's AML/CFT systems. This includes on-site visits and reviews by international experts, with public reports containing recommendations for improvement. The process is not punitive and does not impose sanctions.
"FATF mutual evaluations are peer reviews in which experts from member countries assess another member's AML/CFT system and provide recommendations."

NEW QUESTION # 35
When applying new technologies to AML, application programming interfaces (APIs) allow for:

A. Different applications to connect and communicate
B. Authentication via artificial intelligence (AI) and biometrics
C. Digital identification on mobile devices
D. Quick CDD and client traits analysis during onboarding

Answer: A

Explanation:
Application Programming Interfaces (APIs)are tools that enableinterconnectivity and data exchangebetween different software applications. In AML contexts, APIs are commonly used tointegrate third-party systems, such as screening tools, customer databases, and transaction monitoring platforms, ensuring real-time and accurate flow of information.
This technological capability supports enhancedautomation, agility, and efficiencyin AML processes.

NEW QUESTION # 36
During a routine periodic KYC refresh of a policyholder and client of an insurance company, updated business registry documentation has highlighted that the policyholder's business has changed addresses five times during the last year and that the ultimate beneficial owner (UBO) changed two weeks ago. What actions should be taken immediately?

A. File a suspicious transaction report because the insurance company was not made aware of the business' change of UBO
B. Request the relationship manager set up a meeting with the policyholder to update their address and submit details of the new UBO in the name of good customer service
C. Investigate the changes of address and change of UBO and in the meantime decline payment and withdrawal instructions from the policy until completion of the investigation and next steps are agreed upon
D. Investigate the changes of address and change of UBO and in the meantime freeze the client's policy

Answer: C

Explanation:
The combination of frequent address changes and a recent change in the ultimate beneficial owner raises potential red flags that warrant immediate investigation. To mitigate risk, the insurance company should investigate these changes and temporarily decline any payment or withdrawal instructions until the review is complete and appropriate steps are agreed upon. This ensures both regulatory compliance and protection against potential misuse of the policy.

NEW QUESTION # 37
The Money Laundering Reporting Officer (MLRO) of a life insurance company is reviewing the product risk assessment methodology. Which of the following attributes of life insurance products would be attributed a higher risk rating? (Select Three.)

A. Products with international health insurance coverage
B. Products that allow for a cash surrender value
C. Products that restrict the transfer of funds from one policy to another
D. Products that allow the option to change the nominated beneficiary after the commencement of the policy
E. Annuity products with a deferred income stream

Answer: A,B,D

Explanation:
Life insurance products vary significantly in their exposure to money laundering risk. FATF guidance and insurance-sector AML standards emphasize that flexibility, liquidity, and cross- border features increase product risk.
Products that allow changes to beneficiaries after policy inception present higher risk because criminals may initially name a legitimate beneficiary and later substitute another party to obscure the true recipient of funds. This flexibility can be exploited to disguise beneficial ownership.
Products with cash surrender values are particularly vulnerable to money laundering. Criminals may place illicit funds into policies and later redeem them, creating an appearance of legitimate insurance proceeds. This characteristic is widely recognized as a high-risk factor.
International coverage, including cross-border health insurance features, increases geographic risk exposure, particularly when funds or claims involve higher-risk jurisdictions with weaker AML controls.
By contrast, annuities with deferred income streams typically limit liquidity, reducing laundering risk. Products that restrict fund transfers further reduce misuse potential and are considered lower risk.

NEW QUESTION # 38
Using artificial intelligence (Al) and machine learning-based techniques tn adverse media screening can:
(Choose three.)

A. instantly identify intent behind media articles, allowing for more effective risk scoring.
B. ensure that all adverse media sources are comprehensively analyzed without the need for human review.
C. significantly reduce human errors arising from repetitive tasks by delivering consistent and highly accurate analysis.
D. automate the process of identifying new information and distinguishing it from previously encountered data.
E. cover multiple languages and scripts, surpassing the limitations of human linguistics.

Answer: C,D,E

Explanation:
AI and machine learning in adverse media screening can reduce human error through consistent analysis, automate the detection of new versus previously reviewed information, and process multiple languages and scripts, enabling broader and more accurate coverage than human review alone.

NEW QUESTION # 39
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