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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Understanding Risks and Methods of Financial Crime	26%	- Terrorism financing and proliferation financing 1. Distinctions from money laundering 2. Sources and mechanisms - Financial crime risks and consequences 1. Institutional, individual, economic and social impacts - Sanctions regimes and compliance risks 1. UN, EU, OFAC frameworks 2. Risk identification and mitigation - Money laundering stages and techniques 1. Methods across financial sectors and businesses 2. Placement, layering, integration
Topic 2: Global Anti-Financial Crime Frameworks, Governance and Regulations	24%	- Governance, accountability and ethics 1. Roles of board, senior management and compliance function 2. Ethical obligations and professional standards - International standards and bodies 1. FATF 40 Recommendations 2. Basel Committee, Wolfsberg Group, UN conventions - Regional and national regulations 1. USA PATRIOT Act and extraterritorial laws 2. EU AML Directives
Topic 3: Tools, Technologies and Investigations	22%	- Investigation processes and evidence handling 1. Cooperation with authorities and information sharing 2. Case management and escalation - Technology and systems 1. Cryptoasset and virtual asset compliance 2. Monitoring systems, screening tools, data analytics - Remediation and response 1. Corrective actions and regulatory engagement
Topic 4: Building and Managing Anti-Financial Crime Compliance Programs	28%	- Program framework and policies 1. Policies, procedures and controls design 2. Risk assessment and risk-based approach - Audit, testing and continuous improvement - Customer due diligence and know-your-customer 1. politically exposed persons and high-risk clients 2. CDD, EDD, beneficial ownership identification - Monitoring, reporting and record keeping 1. Legal record retention requirements 2. Transaction monitoring and alert management 3. Suspicious activity reporting (SAR/STR) - Training, awareness and internal communication

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q246-Q251):

NEW QUESTION # 246
An AML compliance officer receives an independent audit report with a number of findings.
An appropriate response to the report would include:

A. Defining remedial actions based on the findings' root cause analysis
B. Reperforming the testing for the controls mentioned in the findings to confirm the results of the audit
C. Drafting detailed action plans for the audit team to execute to close the findings
D. Assigning responsibility for reviewing the action plan to the board of directors

Answer: A

NEW QUESTION # 247
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. Send a request for information to the counterparty bank involved in the transaction that caused the alert
C. Request information from the relationship manager assigned to the account that caused the alert
D. Perform below-the-line testing to ensure the automated monitoring system is operating effectively

Answer: C

NEW QUESTION # 248
Why are casinos considered vulnerable to money laundering?

A. They eliminate customer anonymity completely
B. They only accept government payments
C. They prohibit cash usage
D. They can convert cash into seemingly legitimate winnings

Answer: D

Explanation:
Casinos may be exploited to launder illicit funds by converting cash into chips and later redeeming them as gambling winnings. Large cash-intensive operations combined with rapid movement of funds create vulnerabilities requiring strong customer identification and transaction monitoring controls.

NEW QUESTION # 249
In which of the following situations would it be most crucial for the designated AML compliance officer of a company to perform a complete review of the company's AML program, including identifying the risks and commensurate controls?

A. An external audit highlights several deficiencies
B. A high-profile money laundering case involving another industry is publicized
C. The company is merging with or acquiring another entity
D. Extensive AML legislation is proposed by a legislative body in the company's jurisdiction

Answer: C

NEW QUESTION # 250
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 agent requested a disposal of assets at a lower price than recently acquired.
B. The power of attorney was issued by a law firm in a different EU country from where the transaction took place.
C. The assets acquired through an auction were put in the name of an offshore company
D. The agent acted on behalf of an individual residing in a country which is on the EU's list of high- risk jurisdictions

Answer: A,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.

NEW QUESTION # 251
......

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