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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
Related Certifications:Certified Global Sanctions Specialist (CGSS)
Certified Cryptoasset Anti-Financial Crime Specialist (CCAS)
Real Exam Qty:120
Passing Score:75 (scaled score)
Available Languages:Korean, Portuguese, French, Traditional Chinese, Simplified Chinese, Arabic, Japanese, English, German, Russian, Spanish
Exam Duration:210 minutes
Certificate Validity Period:3 years
Exam Price:USD 595 (members), USD 795 (non-members); Bundle: USD 1,795 (members)
Exam Format:Scenario-based questions, Multiple-selection, Multiple-choice
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
Global Anti-Financial Crime Frameworks, Governance and Regulations24%- International standards and bodies
  • 1. FATF 40 Recommendations
  • 2. Basel Committee, Wolfsberg Group, UN conventions
- Governance, accountability and ethics
  • 1. Ethical obligations and professional standards
  • 2. Roles of board, senior management and compliance function
- Regional and national regulations
  • 1. USA PATRIOT Act and extraterritorial laws
  • 2. EU AML Directives
Building and Managing Anti-Financial Crime Compliance Programs28%- Program framework and policies
  • 1. Policies, procedures and controls design
  • 2. Risk assessment and risk-based approach
- Training, awareness and internal communication
- Monitoring, reporting and record keeping
  • 1. Suspicious activity reporting (SAR/STR)
  • 2. Legal record retention requirements
  • 3. Transaction monitoring and alert management
- Customer due diligence and know-your-customer
  • 1. politically exposed persons and high-risk clients
  • 2. CDD, EDD, beneficial ownership identification
- Audit, testing and continuous improvement
Understanding Risks and Methods of Financial Crime26%- Sanctions regimes and compliance risks
  • 1. UN, EU, OFAC frameworks
  • 2. Risk identification and mitigation
- Financial crime risks and consequences
  • 1. Institutional, individual, economic and social impacts
- Terrorism financing and proliferation financing
  • 1. Sources and mechanisms
  • 2. Distinctions from money laundering
- Money laundering stages and techniques
  • 1. Methods across financial sectors and businesses
  • 2. Placement, layering, integration
Tools, Technologies and Investigations22%- Remediation and response
  • 1. Corrective actions and regulatory engagement
- Investigation processes and evidence handling
  • 1. Cooperation with authorities and information sharing
  • 2. Case management and escalation
- Technology and systems
  • 1. Monitoring systems, screening tools, data analytics
  • 2. Cryptoasset and virtual asset compliance

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

Question #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
Reveal Solution  Discussion  0

Correct Answer: A,C  🗳️

Question #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
Reveal Solution  Discussion  0

Correct Answer: B,C,E  🗳️

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Question #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
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #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.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #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
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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