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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: 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. Monitoring systems and typologies 2. Suspicious Activity Reports (SAR/STR)
Topic 2: AML Compliance Framework	25%	- Roles and responsibilities 1. Governance and oversight 2. Compliance officer duties - Compliance program components 1. Internal controls 2. Policies and procedures
Topic 3: 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 4: 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

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ACAMS - Reliable CAMS7 - Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Training Solutions

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q29-Q34):

NEW QUESTION # 29
Which control would be most effective as part of a risk-based approach (RBA) to managing AML/CFT risk for a bank established in the EU that also has a branch in a high-risk third country outside of the EU?

A. Apply tailored due diligence measures, based on the level of risk posed by each customer following risk assessment
B. Monitor every cross-border transaction in real time, flagging all for enhanced scrutiny due to the country risk level
C. Automatically apply enhanced customer due diligence measures to all customers in the high-risk third- country branch regardless of risk level
D. Fully rely on central beneficial owner registry records in the high-risk third country to determine the ultimate beneficial owners of all customers

Answer: A

Explanation:
As part of a risk-based approach, the bank should apply tailored due diligence measures based on the assessed risk level of each customer. This ensures resources are focused where they are most needed, rather than applying uniform enhanced measures to all customers, which can be inefficient and unnecessary.

NEW QUESTION # 30
Financial crime risk related to the use of "hawalas" can stem from: (Select Two.)

A. informal networks used for cross-border transactions outside of the formal banking system.
B. heightened risks of returned transactions.
C. remote verification of identity by third-party program managers.
D. heavy usage by senior political figures.
E. difficulty in tracking the originator, recipient, and source of transactions.

Answer: A,E

Explanation:
* A: "Hawala and similar informal value transfer systems are difficult to monitor, making it challenging to identify the originator, recipient, and source of funds."
* D: "Hawala operates through informal networks for cross-border transfers, often outside the formal banking system, increasing AML/CFT risk."(CAMS 6th Edition, Alternative Remittance Systems; FATF, Guidance on Money Transfer Services) References:
CAMS 6th Edition, Money Transfer and Informal Value Transfer Systems
FATF, Alternative Remittance Systems Guidance

NEW QUESTION # 31
Which of the following are important AML controls for a compliance manager of a regulated asset management company in the European Union to implement? (Select Two.)

A. Producing financial stability reports on interesting customers
B. Inviting prospective customers for an onboarding interview
C. Understanding the source and origin of assets
D. Performing negative news checks of prospective customers
E. Rejecting any politically exposed persons (PEPs) as customers

Answer: C,D

Explanation:
Understanding the source and origin of assets (C):According to the CAMS 6th Edition (Chapter:
Customer Due Diligence and Enhanced Due Diligence) and the EU 4th & 5th AML Directives, regulated entities are required to take adequate measures to understand the source of funds and the origin of assets of their customers, especially when there are higher risk factors such as large transactions or PEPs."Firms must identify the source and origin of assets to ensure they are not the proceeds of crime or corruption, particularly for higher-risk customers." Performing negative news checks of prospective customers (D):Adverse media screening is an essential part of the onboarding process for identifying potential risks related to money laundering, terrorist financing, or reputational harm."Negative news or adverse media checks form a vital component of the due diligence process, helping organizations detect links to criminal or suspicious activities."

NEW QUESTION # 32
The primary objectives of the United Nations in developing sanctions regimes include: (Select Three.)

A. to deter non-democratic and non-constitutional changes within countries.
B. to support governments and regimes in the peaceful resolution of conflict.
C. to force developing nations to adopt liberal or substantive democracies.
D. to support the protection of human rights.
E. to punish governments for having weak financial crime controls.

Answer: A,B,D

Explanation:
UN sanctions regimes are not punitive but aim to:
* B: "Support peaceful resolution of conflicts."
* D: "Deter non-democratic and unconstitutional changes of government."
* E: "Promote respect for human rights and humanitarian law."(CAMS 6th Edition, United Nations Sanctions; UN Security Council Mandates) Incorrect:
* A: The UN does not impose sanctions to force regime type.
* C: Sanctions are not for punishing weak AML controls.
References:
CAMS 6th Edition, UN Sanctions
UN Security Council, Sanctions Objectives

NEW QUESTION # 33
An AML analyst at a financial institution is examining an alert generated by the automated transaction monitoring system to determine whether the alert should be escalated to the AML unit for further investigation or whether it can be archived as a false positive.
Which action might be reasonable for the AML analyst to take?

A. Restrict the client's access to the account
B. Perform below-the-line testing to ensure the automated monitoring system is operating effectively
C. Send a request for information to the counterparty bank involved in the transaction that caused the alert
D. Request information from the relationship manager assigned to the account that caused the alert

Answer: D

NEW QUESTION # 34
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