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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. Regulatory investigations 2. Case management and documentation
Topic 3: Risk Management and Due Diligence	25%	- Transaction monitoring and reporting 1. Suspicious Activity Reports (SAR/STR) 2. Monitoring systems and typologies - Customer Due Diligence (CDD/KYC) 1. Enhanced due diligence (EDD) 2. Customer identification programs (CIP)
Topic 4: AML Compliance Framework	25%	- Roles and responsibilities 1. Governance and oversight 2. Compliance officer duties - Compliance program components 1. Policies and procedures 2. Internal controls

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q144-Q149):

NEW QUESTION # 144
Tax evasion is:

A. bending the rules to pay less tax than required.
B. not an important crime as it does not impact society.
C. a sophisticated process which always means the same as tax avoidance.
D. a deliberate attempt not to pay the tax which is due or obliged.

Answer: D

Explanation:
Tax evasion is the deliberate and illegal act of not paying taxes that are legally owed. It is a criminal offense that can have serious consequences, including penalties, fines, and imprisonment.

NEW QUESTION # 145
The goal of the Egmont Group of Financial Intelligence Units (FIUs) is to provide a forum for FIUs to:
(Select Three.)

A. Propose legislation to combat financial crime, including money laundering and the financing of terrorism
B. Securely share sensitive information in the fight against money laundering and the financing of terrorism
C. Improve global cooperation between FIUs
D. Sign memoranda of cooperation that recognize and allow room for case-by-case solutions to specific problems
E. Establish an environment to foster trust amongst countries

Answer: B,C,E

NEW QUESTION # 146
Tax evasion is:

A. A specialized accounting discipline focused on lawful tax planning
B. A provision that reduces taxable income as an itemized or standard deduction
C. The non-payment or under-payment of taxes, usually by deliberately making a false declaration or no declaration to tax authorities
D. The practice of minimizing tax liability by exploiting loopholes or unintended interpretations of tax law

Answer: C

Explanation:
Tax evasion is a criminal offense and is widely recognized as a predicate offense to money laundering under FATF standards and national AML laws.
It involves the deliberate non-payment or under-reporting of taxes, often through false declarations, concealment of income, or failure to file required tax returns. The key distinction is intentional deception of tax authorities.
In contrast, tax avoidance refers to lawful strategies used to minimize tax liability within the boundaries of the law. Deductions and tax planning activities are legal and do not constitute tax evasion.
Because tax evasion generates illicit proceeds, it is directly relevant to AML/CFT frameworks, and financial institutions must be alert to indicators of tax-related financial crime.

NEW QUESTION # 147
An agent of a wealthy individual residing in Country A, which is on the EU list of high-risk third jurisdictions, approaches a notary in Country B, which is in the EU. The agent wants to complete a disposal of assets recently acquired at auction by the wealthy individual through an offshore company. The agent also has a power of attorney to act on behalf of the offshore company issued by a respectable law firm from Country C, which is also in the EU. The agent asks the notary to proceed with the disposal as quickly as possible without paying any specific attention to related costs or taxes to be paid as a result of this transaction. The notary notices the intended transfer price is significantly lower than the one recorded at auction, but the agent does not want to discuss this matter and claims that it is not covered by the power of attorney.
Which red flags should the notary consider? (Select Two)

A. The power of attorney was issued by a law firm in a different EU country from where the transaction took place.
B. The assets acquired through an auction were put in the name of an offshore company
C. The agent acted on behalf of an individual residing in a country which is on the EU's list of high-risk jurisdictions
D. The agent requested a disposal of assets at a lower price than recently acquired.

Answer: C,D

Explanation:
A: Selling assets at a significant loss, especially shortly after purchase, is a classic red flag for asset laundering and value manipulation, which can be used to disguise the true nature of proceeds.
C: Transactions involving individuals from high-risk jurisdictions, as identified by the EU and FATF, warrant heightened scrutiny due to increased ML/TF risk.(CAMS 6th Edition, Red Flags for Complex Asset Transactions; EU List of High-Risk Third Countries) B and D may contribute to complexity but are not the primary red flags in this scenario.
References:
CAMS 6th Edition, Red Flags in Notarial and Legal Transactions
EU AML Directives and High-Risk Country Lists

NEW QUESTION # 148
Risks associated with real estate transactions include: (Choose two.)

A. non-financed purchases
B. purchases in the name of a natural person
C. cross-border purchases
D. paying true market price for a property

Answer: A,C

Explanation:
Cross-border purchases increase complexity and risk due to differing regulations and potential anonymity.
Non-financed purchases, especially in cash, can facilitate money laundering by avoiding traditional financial scrutiny.

NEW QUESTION # 149
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