Pass the actual test with the help of CAMS7 study guide
Updated: Jul 09, 2026
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1. Which of the following are common indicators of possible money laundering within the securities industry? (Select Two.)
A) Engaging in transactions involving nominees or third parties
B) Receiving securities into an existing brokerage account following the death of a spouse
C) Using brokerage accounts like deposit accounts
D) Allowing fixed income securities to mature
2. Which services provided by an accounting firm could be considered as higher risk from a financial crime perspective? (Choose three.)
A) Auditing a firm that provides payroll software to large corporate customers
B) Forming a trust on behalf of a customer with a complex setup and acting as a nominee director
C) Providing tax advice to an international customer hoping to move their assets out of their home country
D) Preparing financial statements for a listed or a privately owned firm
E) Assisting an offshore corporation from a jurisdiction with no available beneficial owner information to buy property in the UK
3. What is the first step that an investigator should take when beginning a financial investigation into a potential suspicious activity?
A) Contacting the country's financial intelligence unit's (FIU's) officers to seek advice on whether the potential suspicious activity is indeed a suspicious activity
B) Gathering and assessing internal sources of information, including information obtained from the customer, transactions, and value and volume
C) Identifying and reviewing external information, including online presence, customer-related entities, and relevant media
D) Determining whether the potential suspicious activity is consistent with the customer's transactional behavior, nature of business, and occupation
4. It is essential to identify any "family members" or "close associates" of politically exposed persons (PEPs) as part of the KYC/CDD process because they could be:
A) used as intermediaries to facilitate bribery or corruption or to conceal the illicit wealth of the PEP.
B) in a position to provide more information regarding the PEP's whereabouts and hidden properties.
C) travelling to offshore jurisdictions often on holiday which exposes them to higher risks for AML.
D) executing cross-border transactions for their own business which is not commensurate to the PEP's wealth.
5. Which line of defense would be tasked with interpreting new AML regulations and revising training for client-facing relationship managers?
A) The third line
B) The first line
C) The second line
D) Senior management
Solutions:
| Question # 1 Answer: A,C | Question # 2 Answer: B,C,E | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: C |
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