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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
AML Compliance Framework	25%	- Compliance program components 1. Internal controls 2. Policies and procedures - Roles and responsibilities 1. Compliance officer duties 2. Governance and oversight
Detecting and Preventing Financial Crime	20%	- Investigations and enforcement 1. Regulatory investigations 2. Case management and documentation - Financial crime typologies 1. Fraud and corruption schemes 2. Trade-based money laundering
Money Laundering and Terrorist Financing Concepts	30%	- Global AML/CFT standards 1. FATF Recommendations 2. International regulatory frameworks - Definitions and stages of money laundering 1. Terrorist financing typologies 2. Placement, layering, integration
Risk Management and Due Diligence	25%	- Customer Due Diligence (CDD/KYC) 1. Enhanced due diligence (EDD) 2. Customer identification programs (CIP) - Transaction monitoring and reporting 1. Suspicious Activity Reports (SAR/STR) 2. Monitoring systems and typologies

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q21-Q26):

NEW QUESTION # 21
What is the PRIMARY concern with anonymous shell companies?

A. They are prohibited in every jurisdiction
B. They prevent international trade completely
C. They can conceal illicit ownership and transactions
D. They always operate at financial losses

Answer: C

Explanation:
Anonymous shell companies may obscure the identities of individuals controlling assets and transactions. Criminal organizations frequently use such structures to move illicit funds, evade sanctions, or conceal corruption proceeds. Transparency regarding beneficial ownership is therefore a critical AML requirement.

NEW QUESTION # 22
Which of the following indicators of potentially suspicious activity are commonly associated with high-risk business sectors and structures such as shell companies? (Select Three.)

A. A company regularly conducts large-volume transactions in a medium-risk jurisdiction with longstanding business partners and provides complete documentation and audit trails
B. All payments are in smaller amounts below reporting thresholds but are high when aggregated while still being consistent with standard business practices
C. Knowing the goods or services, if identified, do not match the profile of the company or the nature of the financial activity
D. Insufficient or no information is available to identify originators or beneficiaries of funds transfers through searches or direct inquiries
E. Payments have no stated purpose, do not reference goods or services, or only reference a contract or invoice number

Answer: C,D,E

Explanation:
Shell companies and other high-risk business structures are commonly associated with money laundering schemes designed to obscure ownership and transaction purpose. FATF guidance identifies several red flags indicative of such misuse.
A mismatch between goods or services and the company's stated business profile suggests fictitious or manipulated transactions. Insufficient information on originators or beneficiaries of funds transfers further increases suspicion, as transparency is a core AML requirement.
Additionally, payments lacking a clear purpose or meaningful description may indicate layering or attempts to conceal illicit activity.
Conversely, well-documented transactions with established partners and legitimate audit trails are indicators of lower risk. While structuring below reporting thresholds can be suspicious, it must also be inconsistent with standard business practices to qualify as a red flag.

NEW QUESTION # 23
When making an independent determination on whether to close an account based on an internal Investigation, a financial institution (F1) should consider. (Select Five.)

A. correspondence with law enforcement
B. the legal basis for closing the account.
C. the Fl's policies and procedures.
D. reputational risk.
E. the frequency of account activity
F. the seriousness of the underlying conduct.
G. the customers personal relationships.

Answer: C,D

NEW QUESTION # 24
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 Both policies and procedures are mandatory for knowledge and adherence.
B. Policies are detailed instructions for specific processes. Procedures are an overarching framework. Neither policies nor procedures are mandatory for knowledge and adherence
C. Policies define the principles of an organization and influence the drafting of procedures.Procedures are detailed instructions for specific processes.
D. Policies are broad guidelines. Procedures are detailed Instructions for specific processes. Only procedures are mandatory for knowledge and adherence.

Answer: C

NEW QUESTION # 25
Having a risk-based approach is central to a financial institution understanding the money laundering and terrorist financing risk to which they are exposed. The development of a money laundering and terrorist financing risk assessment is a key starting point.
Commonly used risk factors include. (Select Three.)

A. customer risk.
B. product risk.
C. credit risk.
D. liquidity risk.
E. geographic risk.

Answer: A,B,E

Explanation:
The CAMS 6th Edition clearly identifies a risk-based approach as the cornerstone of effective AML/CFT programs. Risk assessments should consider various risk factors that directly influence exposure to ML/TF.
* Product risk (A): Certain products or services may present higher ML/TF risks, such as private banking, correspondent banking, or cash-intensive products."Products and services offered, and their inherent risk levels, must be assessed as part of the risk-based approach."(CAMS 6th Edition, AML Compliance Program, Risk Assessment)
* Geographic risk (C): Jurisdictions where the customer operates or where transactions are conducted may present higher or lower risks due to factors such as weak AML regulations or high corruption.
"Geographic risk considers where a customer is located and/or where transactions occur, referencing countries with increased risk, such as those identified by the FATF."(CAMS 6th Edition, Risk Assessment Factors)
* Customer risk (D): The type of customer, such as PEPs, non-residents, or companies with complex structures, may present higher ML/TF risks."Customer risk assessment is based on the customer's profile, activity, and ownership structure, and is a critical component in risk-based monitoring."(CAMS
6th Edition, CDD/EDD)
Incorrect Options:
* B (Credit risk): Related to creditworthiness, not ML/TF.
* E (Liquidity risk): Refers to a firm's ability to meet financial obligations; not an AML risk factor.
References:
CAMS Study Guide 6th Edition, AML Compliance Program, "Risk-Based Approach" FATF Guidance: National Money Laundering and Terrorist Financing Risk Assessment (2013)

NEW QUESTION # 26
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