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ACAMS CAMS7 Exam Syllabus Topics:

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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q299-Q304):

NEW QUESTION # 299
The purpose of a risk appetite statement is to:

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

Answer: A

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 # 300
Which should be provided to the board of directors or designated specialized committee when preparing suspicious activity reports (SARs)?

A. Statistical data regarding SARs filed during the reported period
B. Names of all customers subject to SARs filed during the reported period
C. Copies of all SARs filed during the reported period
D. All possible details of SARs filed during the reported period

Answer: A

NEW QUESTION # 301
Which of the following can be considered a reliable, independent source document, data, or information?

A. Information obtained directly from a government-managed registry
B. Information provided by a prospective customer
C. Photocopy of a copy of a government-issued identity document
D. Information obtained from an open-source database

Answer: A

Explanation:
Information obtained directly from a government-managed registry is considered a reliable, independent source because it is authoritative, verified, and maintained by an official source, reducing the risk of inaccuracies or manipulation.

NEW QUESTION # 302
The effectiveness of AML/CFT measures can be best measured by the extent to which systems and controls:

A. Are implemented in a cost-effective way
B. Minimize operational burden placed on the financial institution
C. Comply with relevant laws and regulations
D. Mitigate the risks and threats of financial crime

Answer: D

Explanation:
While regulatory compliance, cost efficiency, and operational considerations are important, the primary objective of AML/CFT measures is to reduce and manage the risks and threats of financial crime.
FATF emphasizes that effectiveness should be measured by outcomes, not merely by technical compliance.
An AML/CFT framework may fully comply with laws and still be ineffective if it fails to detect, deter, or disrupt money laundering and terrorist financing. Regulators increasingly focus on whether systems and controls actually identify suspicious activity, prevent misuse of the financial system, and support law enforcement efforts.
Minimizing operational burden and controlling costs are secondary considerations and must not compromise risk mitigation. A cost-effective system that fails to detect financial crime would not meet regulatory expectations.
Therefore, the true measure of effectiveness lies in how well systems and controls mitigate financial crime risks and threats in practice.

NEW QUESTION # 303
A long-term client of an insurance company makes changes to a policy that require payment of an additional lump sum. The amount payable is high, though within the client's means based on the KYC information collected. The payment is made via a company in another jurisdiction that is known to have lax AML controls. Which indicator of suspicious activity is present?

A. A long-term client wants a change to a policy that is already in force
B. The additional premium payable appears to be within the client's means based on the KYC information collected
C. The payment was made via a company that appears to be owned and controlled by the client being insured
D. The payment was made via a company in a jurisdiction known to have lax AML controls

Answer: D

NEW QUESTION # 304
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