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ACAMS CAMS Exam Syllabus Topics:

Section	Objectives
Topic 1: Customer Due Diligence (CDD) and KYC	- Customer identification and verification - Beneficial ownership and PEP screening - Enhanced due diligence for high-risk customers
Topic 2: AML and CTF Fundamentals	- Money laundering and terrorist financing concepts - International AML/CTF standards and FATF recommendations - Stages and typologies of money laundering
Topic 3: AML Compliance Framework	- AML compliance program structure - Regulatory obligations and enforcement expectations - Internal controls and governance
Topic 4: Financial Crime Typologies and Risk	- Common money laundering typologies across industries - Risk assessment methodologies - Sanctions and embargo compliance
Topic 5: Transaction Monitoring and Reporting	- Case management and investigation processes - Suspicious Activity Reports (SAR) / STR filing - Suspicious activity detection and monitoring systems

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ACAMS Certified Anti-Money Laundering Specialists (the 6th edition) Sample Questions (Q821-Q826):

NEW QUESTION # 821
Which action should financial institutions with cross border correspondent banking activity be required to perform according to the Financial Action Task Force 40 Recommendations?

A. Gather a list of their politically exposed customers
B. Identify natural persons who own or control more than 5%
C. Obtain senior management approval before establishing the relationship
D. Obtain a third party independent review of the respondent's anti-money laundering program

Answer: C

Explanation:
Explanation/Reference: https://www.fatf-gafi.org/media/fatf/documents/recommendations/pdfs/FATF%
20Recommendations%202012.pdf (15)

NEW QUESTION # 822
Which are red flags indicating potential engagement of a bank employee in money laundering? (Select Two.)

A. Reluctance to take a vacation when the employee has sufficient leave
B. Failure to meet business goals for more than one period
C. Maintaining friendships with customers and going to restaurants, games, and other events
D. Lavish lifestyle that cannot be supported by an employee's salary
E. Providing longer than usual services for a certain customer

Answer: C,D

Explanation:
The two red flags indicating potential engagement of a bank employee in money laundering are A. Lavish lifestyle that cannot be supported by an employee's salary, and E. Maintaining friendships with customers and going to restaurants, games, and other events. A bank employee who has a lifestyle that cannot be supported by their salary could be receiving money from illicit activities. Similarly, if the employee is maintaining friendships and going to social events with customers, they could be receiving money in exchange for providing special services. These behaviors should be monitored closely to ensure that the employee is not engaging in activities that could be linked to money laundering.

NEW QUESTION # 823
In many jurisdictions, financial institutions are prohibited from hiring a person who has been convicted of what type of offense?

A. Kidnapping
B. Offenses involving dishonesty
C. Protests of government action
D. Driving while under the influence

Answer: B

Explanation:
Explanation/Reference:
Reference: http://www.capitol.hawaii.gov/hrscurrent/vol07_ch0346-0398/HRS0378/HRS_0378-0003.htm (See 9th point)

NEW QUESTION # 824
When deficiencies are identified in the Financial Action Task Force (FATF) mutual evaluation report, the assessed country needs to:

A. pay a penalty for the delay in adopting the FATF 40 recommendations accurately and timely.
B. request exception from the relevant FATF-style regional body by submitting a report with the reasons.
C. address the shortcomings identified in the report and agree to post-assessment monitoring by FATF.
D. prepare a report to defend its position against the FATF secretariat, which is comprised of the assessors.

Answer: C

Explanation:
According to the Anti-Money Laundering Specialist (the 6th edition) resources, the FATF mutual evaluation process is a peer review mechanism that assesses the level of compliance of a country with the FATF 40 recommendations and the effectiveness of its anti-money laundering and counter-terrorist financing system.
The mutual evaluation report identifies the strengths and weaknesses of the assessed country and provides recommendations for improvement. The assessed country needs to address the shortcomings identified in the report and agree to post-assessment monitoring by FATF, which involves regular follow-up reports and actions to remedy the deficiencies. The other options are not correct, as they do not reflect the FATF mutual evaluation process or the obligations of the assessed country.
References:
ACAMS Study Guide for the Certified Anti-Money Laundering Specialist (the 6th edition), Chapter 4:
International Standards and Global Initiatives, page 97.
FATF, Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems, February 2013, updated October 2019, 1.
FATF, Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations, October 2019, 2.

NEW QUESTION # 825
To guard against acquisition or control of a financial institution by money launderers or their associates, supervisory agencies should require

A. adequate surety bonds, cash deposits, or equivalencies.
B. thorough due diligence on prospective owners.
C. prospective owners have prior experience in the area of finance.
D. comprehensive compliance programs.

Answer: C

NEW QUESTION # 826
......

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