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ACAMS CAMS7 Exam Syllabus Topics:

SectionWeightObjectives
AML Compliance Framework25%- Compliance program components
  • 1. Internal controls
    • 2. Policies and procedures
      - Roles and responsibilities
      • 1. Governance and oversight
        • 2. Compliance officer duties
          Money Laundering and Terrorist Financing Concepts30%- Global AML/CFT standards
          • 1. International regulatory frameworks
            • 2. FATF Recommendations
              - Definitions and stages of money laundering
              • 1. Placement, layering, integration
                • 2. Terrorist financing typologies
                  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. Enhanced due diligence (EDD)
                        • 2. Customer identification programs (CIP)
                          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

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

                                  Question #1

                                  Benefits of using artificial intelligence (AI) in conjunction with or in place of traditional rules-based transaction monitoring include that AI can: (Select Two.)

                                  • A. Increase the number of false positive alerts
                                  • B. Generate customer risk scores to predict potential financial crime activity
                                  • C. Identify changes in customer behavior to more accurately assess risk
                                  • D. Create unbiased scenarios during the machine training phase
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B,C  🗳️

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

                                  Question #2

                                  A law enforcement action alleged that on several trading days over the course of two months, defendants engaged in a series of copper gold, crude oil. and natural gas futures transactions on an electronic trading platform One defendant repeatedly bought future contracts at low prices from the other, and then immediately sold them back at higher prices. As a result, one defendant effectively pocketed the same amount as the other lost even though there were no changes in the open positions held by either defendant. What is a name for this typology?

                                  • A. Short position
                                  • B. Wash trading
                                  • C. Reverse flip
                                  • D. Bid-ask spread
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

                                  Question #3

                                  Which statement is the most accurate describing who must comply with Office of Foreign Assets Control (OFAC) sanctions?

                                  • A. All US citizens except those with dual nationality, US permanent residents, all US incorporated entities, and all individuals within the United States
                                  • B. All US citizens and permanent residents while located in the US, all US incorporated entities and their foreign branches, and all individuals within the United States
                                  • C. All US citizens and permanent residents regardless of where they are located, all US incorporated entities and their foreign branches, and all individuals and entities within the United States
                                  • D. All US citizens and permanent residents regardless of where they are located, all US incorporated entities excluding their foreign branches, and all individuals and entities within the United States
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

                                  Question #4

                                  Which of the following statements is true regarding using an artificial intelligence (AI)-based system to review and identify applicable privacy and data protection rules?

                                  • A. Generated results are likely to be accurate and valid because of the large number of rules analyzed
                                  • B. AI may be ineffective because it cannot be trained to identify rules applicable to a specific bank
                                  • C. Generated results will still have to be assessed for the completeness and applicability of the identified rules
                                  • D. Training should focus on the rules used and not how the AI performs its function
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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

                                  Question #5

                                  Which customer would generally require enhanced due diligence?

                                  • A. Student savings account holder
                                  • B. Publicly listed domestic company
                                  • C. Foreign politically exposed person
                                  • D. Local salaried employee with stable transactions
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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

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