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ACAMS CAMS7 Exam Syllabus Topics:

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

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CAMS7 Latest Questions | Knowledge CAMS7 Points

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q60-Q65):

NEW QUESTION # 60
Reference data screening includes the screening of which types of datasets? (Select Two.)

A. Third-party service providers
B. Customers
C. Customer spouses
D. Types of payment messages

Answer: A,B

Explanation:
Reference data screening is a core element of AML/CFT programs and typically covers:
* Customers (B):"All customers must be screened against sanctions, PEP, and adverse media lists as part of onboarding and ongoing due diligence."(CAMS 6th Edition, Due Diligence and Screening)
* Third-party service providers (C):"Screening should extend to relevant third parties, such as agents and service providers, to prevent indirect exposure to sanctioned entities."(CAMS 6th Edition, Third-Party Screening; FATF Recommendations) Incorrect Options:
* A: Types of payment messages are not screened; the entities/individuals are.
* D: Customer spouses may be screened in some KYC processes but are not a standard dataset for reference screening.
References:
CAMS 6th Edition, Due Diligence and Screening
FATF Recommendations 10, 13, and 16

NEW QUESTION # 61
The purpose of a risk appetite statement is to:

A. eliminate high-risk business types from a financial institution.
B. help customers understand which financial institutions may be willing to bank their business.
C. clearly define the level of risk exposure to financial crime which a financial institution is willing to take.
D. help investors understand the risk a financial institution is willing to take.

Answer: C

Explanation:
A risk appetite statement clearly defines the level and type of financial crime risk a financial institution is willing to accept in pursuit of its objectives. It guides decision-making and ensures consistency in risk-taking across the organization.

NEW QUESTION # 62
In order to prevent financial crime risk, the implemented policies, controls, and procedures must:

A. Be completed by the business and validated by an external firm
B. Include sophisticated and automated controls using the newest available technologies
C. Be created, approved, and owned only by the First Line of Defense and reviewed annually
D. Be proportionate to the size and nature of the firm, approved by senior management, and regularly reviewed

Answer: D

Explanation:
Effective AML/CFT policies, controls, and procedures must be risk-based, proportionate, and well- governed, as emphasized by FATF and national regulators. Proportionality ensures that controls are appropriate to the firm's size, complexity, products, services, and risk exposure.
Senior management approval is essential to establish accountability and tone from the top. Regular review ensures policies remain effective as risks, regulations, and business models evolve.
AML responsibility is shared across the three lines of defense, not owned solely by the business. External validation may support assurance but does not replace internal accountability. While technology can enhance controls, regulators do not mandate the use of advanced or cutting-edge solutions; effectiveness and governance are more important than sophistication.

NEW QUESTION # 63
Common risks and red flags associated with trade finance clients may include: (Choose four.)

A. invoices with prices that are much higher than market price
B. fluctuations in the pricing of standard goods and services
C. account activity that is not consistent with the purpose of the account
D. trade documents, such as invoices and letters of credit, that are not clearly worded or are in foreign languages
E. transaction structures that appear unnecessarily complex
F. bills of lading matching the description of goods, quantities, and values with transshipment details justified

Answer: C,D,E

Explanation:
Trade finance red flags include account activity inconsistent with the account's stated purpose, unnecessarily complex transaction structures, poorly worded or foreign-language trade documents that may obscure details, and invoices with prices significantly above market value, which can indicate trade-based money laundering or fraud.

NEW QUESTION # 64
During a sanctions screening review, a bank identifies a partial name match with an individual on a sanctions list. What should occur FIRST?

A. Confirm whether the match is a true hit
B. Immediately freeze the account permanently
C. Delete the alert if the birthdate differs slightly
D. Notify the customer about the sanctions alert

Answer: A

Explanation:
Institutions must determine whether a sanctions alert is a true match or a false positive before taking restrictive action. This involves reviewing identifiers such as date of birth, nationality, address, and other customer information. Premature action without proper verification may create operational, legal, and reputational risks for the institution.

NEW QUESTION # 65
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