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ACAMS CAMS7 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Management and Due Diligence | 25% | - Transaction monitoring and reporting
|
| Topic 2: Detecting and Preventing Financial Crime | 20% | - Financial crime typologies
|
| Topic 3: AML Compliance Framework | 25% | - Roles and responsibilities
|
| Topic 4: Money Laundering and Terrorist Financing Concepts | 30% | - Definitions and stages of money laundering
|
ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions:
Which of the below would be relevant money laundering red flags for life insurance companies?
(Select Two.)
- A. Paying premium several years in advance and terminating early for a refund
- B. Beneficiary payouts to elderly people
- C. Regularly switching policies and accepting penalties
- D. High-premium life insurances that provide high payouts
- E. Natural persons having more than one insurance policy
Correct Answer: A,C 🗳️
Explanation: Only visible for PrepAway members. You can sign-up / login (it's free).
Which of the following measures is one that the FATF recommends that Financial Institutions and Designated Non-Financial Businesses and Professions (DNFPB) take to mitigate risks arising from business relationships with foreign politically exposed persons (PEPs)?
- A. Subscribe to commercial databases to assist in the detection of PEPs
- B. Raise transaction monitoring thresholds for PEP accounts in automated systems to account for higher transaction values and complex legal vehicles and financial structures
- C. Establish processes to understand the PEP's source of wealth and the source of funds, and to refresh that understanding on a regular basis
- D. Require approval from the prudential regulator for entering into or continuing the business relationship
Correct Answer: C 🗳️
A compliance manager at a virtual asset service provider (VASP) is evaluating its business and its impact on AML policies. Which of the following features of the VASP's business would be of greatest concern? (Select Four.)
- A. Enabling transfer of tokens from one blockchain to another
- B. Lack of adequate IP address tracking capabilities
- C. Operating a network of crypto ATMs charging high fees
- D. Offering services to VASPs established in jurisdictions that are not FATF compliant
- E. Allowing clients lo transact anonymity-enhanced tokens
- F. Onboardlng of clients who are residents abroad. Including those with politically exposed person (PEP) status
Correct Answer: B,D,E,F 🗳️
An employee at a financial institution (Fl) suspects that one of their co-workers is involved in a financial investment scam syndicate. Which step should be taken next by the employee who has the suspicion?
- A. Use the Fl's whistle blowing channel to report the suspected employee
- B. Conduct an open-source intelligence investigation using artificial intelligence tools to gain more information on the activities of the suspected employee
- C. Question their co-worker to determine If their suspicions are correct before reporting to the Fl's Human Resources department
- D. Warn colleagues and customers of the F1 that the employee's suspicious financial investment proposals could be a scam
- E. Report the suspected employee to the line manager of the F1 to take the required action
Correct Answer: A 🗳️
A wealthy individual is using a complex corporate structure to facilitate illegal logging and then illegal mining of the resulting resources from that land. Which category of predicate crime is taking place?
- A. Illicit resource trade
- B. Corruption
- C. Environmental crime
- D. Trade-based money laundering
Correct Answer: C 🗳️
Explanation: Only visible for PrepAway members. You can sign-up / login (it's free).
Arabela -
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