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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Money Laundering and Terrorist Financing Concepts	30%	- 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
Topic 2: Detecting and Preventing Financial Crime	20%	- Financial crime typologies 1. Trade-based money laundering 2. Fraud and corruption schemes - Investigations and enforcement 1. Case management and documentation 2. Regulatory investigations
Topic 3: AML Compliance Framework	25%	- Roles and responsibilities 1. Compliance officer duties 2. Governance and oversight - Compliance program components 1. Policies and procedures 2. Internal controls
Topic 4: Risk Management and Due Diligence	25%	- Customer Due Diligence (CDD/KYC) 1. Customer identification programs (CIP) 2. Enhanced due diligence (EDD) - Transaction monitoring and reporting 1. Monitoring systems and typologies 2. Suspicious Activity Reports (SAR/STR)

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q15-Q20):

NEW QUESTION # 15
Which control helps reduce the risk of employee involvement in money laundering?

A. Allowing unrestricted override authority
B. Eliminating internal audits
C. Segregation of duties and employee screening
D. Reducing compliance training frequency

Answer: C

Explanation:
Segregation of duties limits opportunities for employees to manipulate transactions or conceal suspicious activity. Employee background screening, oversight, and ethical standards further reduce internal collusion risks and strengthen the integrity of AML compliance programs.

NEW QUESTION # 16
Which step should financial institutions take when complying with sanctions requirements?

A. Adopt automatic screening systems to detect designated persons and entities.
B. Change the risk profile to "high-risk" if an existing customer becomes a sanctioned entity and continue monitoring further transactions.
C. Conduct enhanced due diligence for prohibited entities on the sanctions list.
D. Freeze the funds or assets of designated persons and entities once this decision is approved by the board.

Answer: A

NEW QUESTION # 17
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. transaction patterns involving transactions that exceed a certain dollar amount.
B. anomalies involving a transaction that occurs in a location far away from the customer's usual spending patterns.
C. suspicious behavior involving a transaction that occurs at an unusual time of day.
D. fraudulent identities involving stolen or manufactured identification.
E. hidden beneficial owners.

Answer: A,B,C

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 # 18
Which measures should be implemented to facilitate collaboration among different risk management functions to enhance an organization's anti-financial crime (AFC) program? (Select Three.)

A. Develop cross-functional training programs on AFC risks, management strategies, and related technologies
B. Develop common metrics and key performance indicators
C. Establish a robust framework for continuous threat intelligence sharing
D. Establish a reward program among risk management functions to encourage proactive controls
E. Have senior management accountability for AFC failures

Answer: A,B,C

Explanation:
An effective anti-financial crime (AFC) program relies on strong collaboration across risk management functions, including AML, fraud, sanctions, cybersecurity, and operational risk.
Regulatory guidance encourages integrated approaches to managing financial crime risk.
A framework for continuous threat intelligence sharing allows different functions to exchange insights on emerging risks, typologies, and vulnerabilities, improving the organization's ability to detect and respond to threats holistically.
Cross-functional training programs help ensure that staff across risk functions understand AFC risks, regulatory expectations, and the tools used to manage them. This fosters consistency and breaks down silos within the organization.
Developing common metrics and key performance indicators (KPIs) aligns objectives across functions and enables management to assess program effectiveness consistently.
While senior management accountability is essential for governance, it does not directly facilitate collaboration among risk functions. Reward programs are not standard or recommended measures in regulatory guidance for enhancing AFC collaboration.

NEW QUESTION # 19
An organization is developing a comprehensive anti-money laundering (AML) framework. Which of the following statements best describes the relationship between AML policies and procedures?

A. Policies are detailed instructions for specific processes. Procedures are an overarching framework. Neither policies nor procedures are mandatory for knowledge and adherence.
B. Policies are detailed instructions for specific processes. Procedures are an overarching framework. Both policies and procedures are mandatory for knowledge and adherence.
C. Policies are broad guidelines. Procedures are detailed instructions for specific processes. Only procedures are mandatory for knowledge and adherence.
D. Policies define the principles of an organization and influence the drafting of procedures.
Procedures are detailed instructions for specific processes.

Answer: D

Explanation:
Policies outline the guiding principles and objectives of an organization's AML framework, setting the tone for compliance. Procedures translate these policies into detailed, actionable steps that staff must follow. Both are essential for effective AML compliance.

NEW QUESTION # 20
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