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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Detecting and Preventing Financial Crime	20%	- Investigations and enforcement 1. Case management and documentation 2. Regulatory investigations - Financial crime typologies 1. Trade-based money laundering 2. Fraud and corruption schemes
Topic 2: Risk Management and Due Diligence	25%	- Customer Due Diligence (CDD/KYC) 1. Customer identification programs (CIP) 2. Enhanced due diligence (EDD) - Transaction monitoring and reporting 1. Monitoring systems and typologies 2. Suspicious Activity Reports (SAR/STR)
Topic 3: AML Compliance Framework	25%	- Roles and responsibilities 1. Compliance officer duties 2. Governance and oversight - Compliance program components 1. Internal controls 2. Policies and procedures
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. Placement, layering, integration 2. Terrorist financing typologies

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q52-Q57):

NEW QUESTION # 52
Which of the following are best practices to raise awareness and train staff regarding the risks related to financial crime? (Select Three.)

A. Train outside of daily operations and promote awareness of Compliance
B. Tailor training and offer regular training to all employees
C. Use a variety of training methods and provide necessary resources to employees
D. Communicate regularly and measure effectiveness of training
E. Train core AML topics once per year, at a minimum, to relevant employees

Answer: B,C,D

Explanation:
A robust AML training program should incorporate the followingbest practicesto ensure awareness and ongoing engagement:
Option A - Tailored and regular training:
Training should berisk-based and role-specific, ensuring employees understand how AML applies to their function.
Option D - Variety and resources:
Use ofinteractive, digital, live, and scenario-based methodskeeps training effective and adaptable. Providing materials and resources supports continued learning.
Option E - Communication and measurement:
Ongoing AML awareness campaigns andfeedback mechanismshelp assess theeffectivenessof training and reinforce its importance.

NEW QUESTION # 53
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. Understanding the source and origin of assets
B. Rejecting any politically exposed persons (PEPs) as customers
C. Inviting prospective customers for an onboarding interview
D. Performing negative news checks of prospective customers
E. Producing financial stability reports on interesting customers

Answer: A,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 # 54
Which of the following statements is true regarding Office of Foreign Assets Control (OFAC) sanctions?
(Select Two.)

A. Sanctions can only be placed on certain individuals in foreign countries as designated by OFAC
B. OFAC sanctions automatically expire after five years unless renewed by Congress
C. Blocked funds must be placed into an interest-bearing account on a financial institution's books
D. Sanctions can be either comprehensive or selective using the blocking of assets and trade restrictions to accomplish foreign policy and national security goals

Answer: C,D

Explanation:
OFAC sanctions are a key element of the U.S. AML/CFT framework. According to the CAMS 6th Edition and OFAC regulations:
* Blocked funds must be placed into an interest-bearing account on a financial institution's books (B):
"Blocked property must be held in a separate interest-bearing account on the books of the U.S. financial institution."(CAMS 6th Edition, Sanctions Compliance; OFAC FAQs)
* Sanctions can be either comprehensive or selective using the blocking of assets and trade restrictions (C):"OFAC administers both comprehensive and targeted (selective) sanctions programs to fulfill U.S.
foreign policy and national security goals."(CAMS 6th Edition, Sanctions Compliance) Incorrect Options:
* A: OFAC can sanction entities, vessels, and organizations-not just individuals or those in foreign countries.
* D: There is no automatic expiration of OFAC sanctions after five years.
References:
CAMS 6th Edition, OFAC and Sanctions Programs
U.S. Treasury, OFAC FAQs

NEW QUESTION # 55
Which characteristics of trust and company service providers (TCSPs) can potentially make them vulnerable to financial crime? (Select Three.)

A. They do not have to comply with AML regulations in most jurisdictions
B. Having minimal face-to-face contact with customers, particularly in offshore arrangements
C. Offering nominee directors may increase anonymity by concealing true ownership
D. They may market themselves specifically to criminals
E. Selling ready-made, off-the-shelf companies to offshore intermediaries

Answer: B,C,E

Explanation:
Trust and company service providers (TCSPs) are recognized by FATF as higher-risk gatekeepers due to the nature of services they provide, which can be misused to facilitate money laundering.
The use of nominee directors can obscure beneficial ownership, allowing criminals to hide their involvement behind third parties. This lack of transparency is a significant AML risk.
The sale of ready-made or shelf companies, particularly through offshore intermediaries, enables rapid creation of legal entities with no operating history, which are frequently used in layering schemes.
Additionally, minimal face-to-face interaction-especially in offshore service models-reduces the ability to verify customer identity and intent, increasing impersonation and misuse risks.
TCSPs do not market themselves to criminals and are subject to AML obligations in most jurisdictions, making those options incorrect.

NEW QUESTION # 56
A financial institution is designing an enterprise-wide risk assessment (EWRA).
According to the guidance issued by the Wolfsberg Group regarding a risk-based approach to identifying and managing money laundering risks, an effective approach should:

A. Include appropriate measures and controls to mitigate money laundering risks stemming from higher- risk customers, products, and geographies.
B. Focus on the inherent risk in the FI's product and service offerings and the controls to mitigate potential money laundering risks.
C. Use a framework provided by a third-party vendor and used by other FIs in the jurisdiction.
D. Focus on understanding the risks presented by new clients within the assessment period, and the controls to mitigate associated money laundering risks.

Answer: A

NEW QUESTION # 57
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