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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risk Management and Due Diligence25%- Transaction monitoring and reporting
  • 1. Monitoring systems and typologies
    • 2. Suspicious Activity Reports (SAR/STR)
      - Customer Due Diligence (CDD/KYC)
      • 1. Customer identification programs (CIP)
        • 2. Enhanced due diligence (EDD)
          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%- Investigations and enforcement
                  • 1. Regulatory investigations
                    • 2. Case management and documentation
                      - Financial crime typologies
                      • 1. Trade-based money laundering
                        • 2. Fraud and corruption schemes
                          Topic 4: Money Laundering and Terrorist Financing Concepts30%- Definitions and stages of money laundering
                          • 1. Placement, layering, integration
                            • 2. Terrorist financing typologies
                              - Global AML/CFT standards
                              • 1. International regulatory frameworks
                                • 2. FATF Recommendations

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

                                  Why is senior management support critical for AML compliance programs?

                                  • A. It guarantees no regulatory penalties
                                  • B. It replaces independent testing requirements
                                  • C. It ensures adequate resources, authority, and compliance culture
                                  • D. It eliminates customer due diligence obligations
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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

                                  Country A's anti-corruption authority has been investigating the movement of potential proceeds of bribery and corruption to Country B and is now preparing to take the case to a local court.
                                  Which method of obtaining the required evidence to prosecute the case would be most effective?

                                  • A. Use the Egmont Secure Web to obtain the required evidence from Country B's financial intelligence unit
                                  • B. Make an official request directly from the head of Country A's anti-corruption authority to Country B's corresponding law enforcement authority
                                  • C. Use the International Criminal Police Organization (INTERPOL) network to obtain the required evidence from Country B
                                  • D. Make a request for the required evidence using Country A's mutual legal assistance treaty with Country B
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  What is the PRIMARY concern with anonymous shell companies?

                                  • A. They prevent international trade completely
                                  • B. They always operate at financial losses
                                  • C. They are prohibited in every jurisdiction
                                  • D. They can conceal illicit ownership and transactions
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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

                                  The recently appointed senior money laundering reporting officer (MLRO) at a newly opened small digital bank has been instructed by the group chief compliance officer to implement an effective AML transaction monitoring system that can identify unusual and suspicious transactions. What are important considerations for the project to select and implement the AML transaction monitoring system at the digital bank? (Select Two.)

                                  • A. Whether the monitoring system is adequate with respect to the bank's size, activities, complexity, and risks
                                  • B. Whether the permissions and user access settings for reviewing, investigating, and reporting details of alerts generated by the system are commensurate with those in use at other banks
                                  • C. Whether the vendor has documented appropriate internal controls for designing system and data integration schema
                                  • D. Whether the monitoring system can be configured to enable the bank to execute trend analysis of transaction activity and to identify unusual business relationships and transactions
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,D  🗳️

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

                                  A bank employee deliberately ignores suspicious transactions involving a profitable customer.
                                  Which AML risk does this situation BEST illustrate?

                                  • A. Reputational risk only
                                  • B. Model risk
                                  • C. Currency fluctuation risk
                                  • D. Internal collusion or misconduct risk
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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

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