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ACAMS CAMS7 Exam Overview:

Certification Vendor:ACAMS
Exam Name:Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Exam Number:CAMS7
Available Languages:English, Traditional Chinese, Russian, Korean, Simplified Chinese, Portuguese, Arabic, French, Spanish, German, Japanese
Exam Price:USD 595 (members), USD 795 (non-members); Bundle: USD 1,795 (members)
Passing Score:75 (scaled score)
Real Exam Qty:120
Exam Format:Multiple-choice, Multiple-selection, Scenario-based questions
Certificate Validity Period:3 years
Related Certifications:Certified Cryptoasset Anti-Financial Crime Specialist (CCAS)
Certified Global Sanctions Specialist (CGSS)
Exam Duration:210 minutes
Recommended Training:ACAMS Virtual Classroom
CAMS 7th Edition Official Study Guide
Exam Registration:ACAMS Official Registration
Pearson VUE Scheduling
Sample Questions:ACAMS CAMS7 Sample Questions
Exam Way:Online proctored (OnVUE) or onsite at Pearson VUE test centers
Pre Condition:Active ACAMS membership; minimum 40 eligibility credits from education, professional experience or training; 3 professional references
Official Syllabus URL:https://www.acams.org/en/certifications/cams-certification

ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Building and Managing Anti-Financial Crime Compliance Programs28%- Audit, testing and continuous improvement
- Monitoring, reporting and record keeping
  • 1. Suspicious activity reporting (SAR/STR)
  • 2. Legal record retention requirements
  • 3. Transaction monitoring and alert management
- Training, awareness and internal communication
- Customer due diligence and know-your-customer
  • 1. politically exposed persons and high-risk clients
  • 2. CDD, EDD, beneficial ownership identification
- Program framework and policies
  • 1. Policies, procedures and controls design
  • 2. Risk assessment and risk-based approach
Topic 2: Tools, Technologies and Investigations22%- Investigation processes and evidence handling
  • 1. Case management and escalation
  • 2. Cooperation with authorities and information sharing
- Remediation and response
  • 1. Corrective actions and regulatory engagement
- Technology and systems
  • 1. Monitoring systems, screening tools, data analytics
  • 2. Cryptoasset and virtual asset compliance
Topic 3: Global Anti-Financial Crime Frameworks, Governance and Regulations24%- Governance, accountability and ethics
  • 1. Ethical obligations and professional standards
  • 2. Roles of board, senior management and compliance function
- International standards and bodies
  • 1. FATF 40 Recommendations
  • 2. Basel Committee, Wolfsberg Group, UN conventions
- Regional and national regulations
  • 1. EU AML Directives
  • 2. USA PATRIOT Act and extraterritorial laws
Topic 4: Understanding Risks and Methods of Financial Crime26%- Financial crime risks and consequences
  • 1. Institutional, individual, economic and social impacts
- Money laundering stages and techniques
  • 1. Placement, layering, integration
  • 2. Methods across financial sectors and businesses
- Sanctions regimes and compliance risks
  • 1. Risk identification and mitigation
  • 2. UN, EU, OFAC frameworks
- Terrorism financing and proliferation financing
  • 1. Sources and mechanisms
  • 2. Distinctions from money laundering

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

Question 1

How do nominees benefit criminals misusing thorn for money laundering purposes? (Select Two.)

A. Obscure beneficial ownership
B. Derail investigations
C. Allow domicile in the nominee's jurisdiction
D. Allow beneficial owners to provide proxies lot voting on corporate decisions


Question 2

Which criminal activities could possibly serve as a predicate offense to financial crimes or money laundering activity? (Select Three.)

A. Arson
B. Bribery or corruption
C. Fraud
D. Assault
E. Organized crime or racketeering


Question 3

Which non-governmental bodies typically issue information and guidance related to AML/CFT issues? (Choose two.)

A. Financial Action Task Force (FATF)
B. Wolfsberg Group
C. Transparency International
D. Tax Justice Network


Question 4

A bank is using a network analysis tool to identify links between its customers and criminal entities. The system identifies potential indirect relationships but is unable to prioritize them. What should the compliance officer do to enhance the tool's effectiveness?

A. Implement risk-scoring algorithms for indirect connections
B. Manually review all flagged relationships for accuracy
C. Focus on direct connections between customers and criminal entities
D. Integrate external databases and social media profiles to cross-check flagged entities


Question 5

An AML compliance officer is drafting plans to address deficiencies identified in an independent audit. Which approach is the best option?

A. Only commit to action plans that can be implemented and closed within the three-month management reporting cycle
B. Draft action plans to address the root cause of the deficiencies, regardless of how long they will take to fully implement
C. Only commit to action plans that require no new investment to maximize shareholder value
D. Draft action plans in consultation with the jurisdiction's FIU to remain aligned with other similar companies


Solutions:

Question 1
Answer: A,B
Question 2
Answer: B,C,E
Question 3
Answer: B,C
Question 4
Answer: A
Question 5
Answer: B

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