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ACAMS CAMS7 Exam Syllabus Topics:

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

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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q103-Q108):

NEW QUESTION # 103
One key aspect of promoting an enterprise-wide compliance culture within a financial institution is that the:

A. Relevant information should be shared throughout the organization.
B. First line of defense should establish its own policies independently.
C. Cost of compliance should increase proportionately to revenues.
D. Revenue-generating business sectors should have precedence over compliance.

Answer: A

NEW QUESTION # 104
Unusual wire transfer transactions can include: (Choose two.)

A. an incoming third-party wire transfer followed by the purchase of real estate in the client's name.
B. multiple wire transfers sent to counterparties associated with the client as per KYC documentation.
C. an incoming wire transfer followed by the loan payment to a third party that is a business associate of the client.
D. wire transfers in different currencies between accounts held at different banks for the same client.

Answer: A,D

Explanation:
Unusual wire transfer transactions may include transfers in different currencies between accounts at different banks for the same client, which can be used to obscure fund flows, and incoming third-party transfers followed by real estate purchases, which may indicate layering and integration stages of money laundering. These patterns deviate from typical financial behavior and warrant closer scrutiny.

NEW QUESTION # 105
Which action should a financial institution take when it receives a grand-jury subpoena regarding a customer?

A. Make copies of the customer's documents and submit the originals to the enforcement agency
B. Notify the customer being investigated before submitting documents
C. Keep the customer's accounts open at the enforcement agency's verbal request
D. Have the institution's assigned legal counsel review the subpoena

Answer: D

NEW QUESTION # 106
Which statement best describes a key money laundering risk associated with virtual asset service providers (VASPs), cryptoassets, and related products?

A. Mandatory reporting requirements have been implemented for certain types of crypto transactions, but gaps in regulation and enforcement still leave room for money laundering activities.
B. Cryptoassets can be transferred across borders quickly, but the volatility of their value still makes them less attractive for money laundering compared to traditional assets
C. The pseudonymous nature of transactions allows criminals to hide their identities while transferring large sums of money globally, making it difficult to trace the ultimate beneficial owner.
D. The transparency of blockchain technology helps law enforcement trace transactions, but it can also provide criminals with ways to obscure their financial activities through complex layering techniques.

Answer: C

Explanation:
The pseudonymous nature of cryptoasset transactions enables criminals to transfer large sums globally while concealing their identities. This lack of transparency poses a significant money laundering risk, as it hinders efforts to trace the ultimate beneficial owner.

NEW QUESTION # 107
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. Submit a referral to file a suspicious activity report (SAR)
B. Remove the customer from the bank's high-risk list
C. Contact the customer's relationship manager to suspend account access until the periodic KYC review is completed
D. Evaluate the KYC review process to understand why the review did not occur as required and take corrective action as necessary

Answer: D

NEW QUESTION # 108
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