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ACAMS CAMS Exam Syllabus Topics:

Topic	Details
Topic 1	AML, CFT, AND SANCTIONS COMPLIANCE PROGRAMS: This section focuses on the design and implementation of effective AML, CFT, and sanctions compliance programs. Candidates must be able to recognize the essential elements of an institution-wide risk assessment.
Topic 2	COMPLIANCE STANDARDS FOR ANTI-MONEY LAUNDERING (AML) AND COMBATING THE FINANCING OF TERRORISM (CFT): This section assesses understanding of the key compliance frameworks and principles related to AML and CFT.
Topic 3	RISKS AND METHODS OF MONEY LAUNDERING AND TERRORISM FINANCING: This section focuses on identifying the various risks and methods associated with money laundering and terrorism financing. Candidates will need to recognize the risks to both individuals and institutions for violations of anti-money laundering (AML) laws.
Topic 4	CONDUCTING AND SUPPORTING THE INVESTIGATION PROCESS: This section of the exam assesses the candidate's knowledge of investigative procedures and reporting requirements. Candidates must show they understand how to appropriately report high-profile suspicious activity reports (SARs) or suspicious transaction reports (STRs) to both internal management and external regulatory authorities.

To become a CAMS Certified professional, candidates must pass a rigorous exam that tests their knowledge of AML regulations, best practices, and emerging trends. CAMS exam consists of 120 multiple-choice questions and must be completed in four hours. CAMS exam covers four main areas: AML programs and controls, customer due diligence, transaction monitoring, and sanctions screening. To pass the CAMS exam, candidates must achieve a score of 75% or higher.

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The CAMS certification exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a professional association that provides training, certification, and networking opportunities for anti-money laundering professionals. ACAMS has over 70,000 members in more than 175 countries, making it the largest international membership organization dedicated to anti-money laundering. The CAMS Certification is highly regarded in the industry and is a prerequisite for many anti-money laundering job positions.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q782-Q787):

NEW QUESTION # 782
The bank's Compliance Officer is tasked with designing standards based on Basel's KYC principles. Which essential elements should be included in the program? (Choose two.)

A. Establishing on-going monitoring of high-risk accounts
B. Documenting a customer acceptance policy
C. Reporting suspicious activity
D. Conducting a money laundering risk assessment
E. Appointing an independent audit function

Answer: B,C

Explanation:
Reference: https://www.bis.org/publ/bcbs77.pdf

NEW QUESTION # 783
An analyst reviewing trade finance transactions notices an increase in price of 25% over 12 months for commodities with the same specification and quantity. Which action should the analyst take?

A. Produce an investigation report that finds evidence to substantiate the analyst's suspicion and submit a SAR/STR.
B. Produce a SAR/STR that describes apparent trade-based money laundering and submit to the Financial Investigation Unit (FIU).
C. Produce an investigation report that considers client activity and factors that may have legitimately affected transaction cost.
D. Produce an updated due diligence record for the client so that monitoring can be enhanced.

Answer: C

NEW QUESTION # 784
An immigrant residing in the United States opens a bank account that includes a debit card. Several months later, the transactional monitoring system identifies small deposits into the account followed by corresponding ATM withdrawals from a country bordering a conflict zone.
How should the bank respond?

A. Initiate an investigation into the activity
B. File a suspicious transaction report
C. Contact the customer if the transaction activity continues
D. Block any further activity

Answer: B

Explanation:
According to the ACAMS CAMS Certification Study Guide (6th edition), the bank should file a SAR if it knows, suspects, or has reason to suspect that a transaction involves funds derived from illegal activity, or is intended or conducted to hide or disguise funds or assets derived from illegal activity, or to evade any BSA regulation or federal law, or has no business or apparent lawful purpose, or is not the sort in which the customer would normally be expected to engage1. The scenario described in the question meets these criteria, as the small deposits and withdrawals from a high-risk country could indicate money laundering, terrorist financing, or other illicit activities. The bank should also document its decision to file or not file a SAR, and retain thesupporting documentation for five years1.
The other options are not correct because they either do not comply with the BSA requirements, or do not adequately address the potential risk of the activity. Blocking any further activity could alert the customer of the bank's suspicion, and could also interfere with law enforcement investigations. Initiating an investigation into the activity could be part of the bank's due diligence process, but it does not substitute the obligation to file a SAR if the activity is suspicious. Contacting the customer could also tip off the customer, or elicit false or misleading explanations that could hinder the bank's assessment of the activity.: ACAMS CAMS Certification Study Guide (6th edition), page 82-83. 12345678 [9]

NEW QUESTION # 785
the Financing of Terrorism (CFT)]
A financial institution (FI) has decided to revamp its compliance program to be more risk-based. Which option should the FI use as part of the new risk-based compliance program?

A. Data-based
B. Predictive-based
C. Leadership-based
D. Transaction-based

Answer: A

Explanation:
A risk-based compliance program is one that identifies and prioritizes the highest compliance risks to the FI and implements controls, policies and procedures to mitigate them. A data-based option is the most suitable for a risk-based compliance program, as it allows the FI to collect, analyze and monitor relevant data on its customers, transactions, products, services, geographies and other risk factors. A data-based option also enables the FI to measure the effectiveness of its compliance program and adjust it as needed to respond to changing risks and regulatory expectations12.
:
1: Risk-Based Approach to Compliance Management2
2: A Risk-Based Approach to Regulatory Compliance1
Reference: https://www.ifc.org/wps/wcm/connect/e7e10e94-3cd8-4f4c-b6f8-1e14ea9eff80
/45464_IFC_AML_Report.pdf?MOD=AJPERES&CVID=mKKNshy

NEW QUESTION # 786
What are two requirements for monitoring and reporting suspicious activity for correspondent banking according to the Wolfsberg Principles? (Choose two.)

A. Incorporate suspicious activity monitoring into periodic reviews
B. Investigate and report suspicious activity only for the correspondent bank's clients
C. Incorporate due diligence results such as customer risk ratings
D. Utilize downstream correspondents to investigate and report suspicious activity

Answer: C,D

Explanation:
Explanation/Reference:

NEW QUESTION # 787
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DOWNLOAD THE ACTUAL ACAMS CAMS EXAM QUESTIONS WITH FREE UPDATES

Download the Actual ACAMS CAMS Exam Questions with Free Updates