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ACAMS CAMS7 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: AML Compliance Framework	25%	- Compliance program components 1. Internal controls 2. Policies and procedures - Roles and responsibilities 1. Governance and oversight 2. Compliance officer duties
Topic 2: 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
Topic 3: Money Laundering and Terrorist Financing Concepts	30%	- Global AML/CFT standards 1. International regulatory frameworks 2. FATF Recommendations - Definitions and stages of money laundering 1. Terrorist financing typologies 2. Placement, layering, integration
Topic 4: 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)

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q434-Q439):

NEW QUESTION # 434
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. All payments are in smaller amounts below reporting thresholds but are high when aggregated while still being consistent with standard business practices
B. Payments have no stated purpose, do not reference goods or services, or only reference a contract or invoice number
C. Insufficient or no information is available to identify originators or beneficiaries of funds transfers through searches or direct inquiries
D. A company regularly conducts large-volume transactions in a medium-risk jurisdiction with longstanding business partners and provides complete documentation and audit trails
E. Knowing the goods or services, if identified, do not match the profile of the company or the nature of the financial activity

Answer: B,C,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 # 435
The manager of a bank's KYC team discovers that a high-risk customer's activity was not reviewed last quarter as the bank's internal schedule required.
What should the KYC team manager do?

A. Evaluate the KYC review process to understand why the review did not occur as required and take corrective action as necessary
B. Submit a referral to file a suspicious activity report (SAR)
C. Remove the customer from the bank's high-risk list
D. Contact the customer's relationship manager to suspend account access until the periodic KYC review is completed

Answer: A

NEW QUESTION # 436
Which persons must always comply with all Office of Foreign Assets Control (OFAC) regulations?
(Select Three.)

A. Permanent US resident aliens regardless of location
B. US citizens regardless of location
C. Merchants that offer US-origin goods for sale regardless of location
D. US incorporated entities and their foreign branches
E. Non-US financial institutions that offer accounts in USD regardless of location

Answer: A,B,D

NEW QUESTION # 437
Which key performance indicators (KPIs) should be considered in the context of ML/TF transaction monitoring? (Select Three.)

A. Number of alerts raised for review or reporting
B. Number of transactions by top customers
C. Number of alerts by region
D. Number of days required to hire new staff
E. Average time to review an alert

Answer: A,C,E

Explanation:
Key performance indicators (KPIs) are essential for evaluating the effectiveness and efficiency of transaction monitoring systems within an AML/CFT program. Regulators expect institutions to monitor how well their systems identify, prioritize, and resolve suspicious activity.
The number of alerts raised provides insight into system sensitivity and potential over- or under- alerting. Tracking alerts by region helps institutions identify geographic risk concentrations and emerging threats. The average time to review an alert measures operational efficiency and whether investigations are conducted promptly, as required by regulatory expectations.
Hiring timelines and transaction volumes by top customers are operational or business metrics and do not directly assess transaction monitoring effectiveness.

NEW QUESTION # 438
Which of the following conditions contribute to a politically exposed person (PEP) posing greater risk than a typical high-risk bank customer? (Select Two.)

A. PEPs may exploit embassy activities to conceal bribery and corruption transactions.
B. PEPs can have illegitimate fund sources but are legally protected from having their accounts closed for activities outside a bank's risk appetite.
C. The family members and close associates of PEPs may be involved in illicit activities.
D. PEPs are granted unlimited credit and financial immunity under international banking regulations.

Answer: A,C

Explanation:
PEPs are recognized by CAMS 6th Edition and FATF as posing elevated risk due to:
A). The family members and close associates of PEPs may be involved in illicit activities:"The risks extend beyond the PEP to family members and close associates, who may be used to conceal the movement of illicit funds." C). PEPs may exploit embassy activities to conceal bribery and corruption transactions:"PEPs may use their position or diplomatic privileges, such as embassy operations, to disguise or facilitate the movement of illicit funds."

NEW QUESTION # 439
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