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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risk Management and Due Diligence25%- 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)
          Topic 2: AML Compliance Framework25%- Roles and responsibilities
          • 1. Governance and oversight
            • 2. Compliance officer duties
              - Compliance program components
              • 1. Policies and procedures
                • 2. Internal controls
                  Topic 3: Detecting and Preventing Financial Crime20%- Financial crime typologies
                  • 1. Trade-based money laundering
                    • 2. Fraud and corruption schemes
                      - Investigations and enforcement
                      • 1. Regulatory investigations
                        • 2. Case management and documentation
                          Topic 4: Money Laundering and Terrorist Financing Concepts30%- Definitions and stages of money laundering
                          • 1. Terrorist financing typologies
                            • 2. Placement, layering, integration
                              - Global AML/CFT standards
                              • 1. International regulatory frameworks
                                • 2. FATF Recommendations

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

                                  According to the Financial Action Task Force (FATF) report on terrorism financing, charities and nonprofit organizations are often vulnerable to terrorist financing because they: (Select Two.)

                                  • A. Enjoy the public trust and have access to considerable sources of funds, and their activities are often cash intensive
                                  • B. Have a global presence that provides a framework for national and international operations and financial transactions that are often in or near areas most exposed to terrorist activity
                                  • C. Collect donations from various sources, and their primary objective is philanthropy and social wellbeing
                                  • D. Are usually legitimate establishments and will not use the funds collected through donation for the profit of individuals or entities
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,B  🗳️

                                  Perpetual KYC includes: (Choose two.)

                                  • A. triggers identifying static data changes and data based on client's behaviors in real time.
                                  • B. ability to prioritize better based on client data rather than driven by schedules alone.
                                  • C. classification of clients into categories of risk.
                                  • D. periodic refreshing at one-, three- and five-year cycles.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,B  🗳️

                                  Explanation: Only visible for TestKingFree members. You can sign-up / login (it's free).

                                  A customer deposits cash amounts just below reporting thresholds at multiple branches over several weeks. The customer claims the funds come from restaurant sales but refuses to provide business records. Which money laundering stage is MOST likely represented?

                                  • A. Placement
                                  • B. Layering
                                  • C. Integration
                                  • D. Concealment
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

                                  Explanation: Only visible for TestKingFree members. You can sign-up / login (it's free).

                                  Which insurance product is considered the lowest risk for money laundering?

                                  • A. Annuity contracts
                                  • B. Cash-secured products
                                  • C. Group insurance products
                                  • D. Permanent life insurance policies
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

                                  Explanation: Only visible for TestKingFree members. You can sign-up / login (it's free).

                                  Which of the following are included in the 11 Immediate Outcomes outlined in the Financial Action Task Force (FATF) methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT/CPF systems during mutual evaluations?
                                  (Select Three.)

                                  • A. Financial intelligence information is collected by authorities and shared with the FATF for further investigation
                                  • B. Those convicted of money laundering offenses are denied access to basic banking services
                                  • C. Money laundering offenses are investigated and criminally prosecuted
                                  • D. Supervisors regulate financial institutions and non-bank financial institutions and their risk-based AML/CFT programs
                                  • E. International cooperation provides actionable information to use against criminals
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C,D,E  🗳️

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