ACAMS CAMS7 Exam Syllabus Topics:

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

Question #1
A multinational corporation is considering expanding into a new market with a history of political instability and corruption. Which strategy would be most effective in mitigating reputational risk from a financial crime perspective associated with such an expansion?

A. Committing to open communication, ethical practices, and community engagement to build trust with stakeholders
B. Minimizing the company's direct presence in the country to reduce exposure to potential risks
C. Partnering with established local businesses to leverage their knowledge and connections while sharing risks
D. Ensure the jurisdiction risks and other relevant factors have been taken into consideration in the EWRA and the residual risks are within the corporation's risk appetite
E. Ensuring the company has strong ties with local government officials to influence policy and avoid negative scrutiny

Question #2
According to FinCEN, which red flags within a bank account may, taken together, be indications of modern slavery, human trafficking, and exploitation? (Select Two.)

A. Large amounts of cash payments to migrant agricultural workers
B. Transactional activity with a registered virtual currency exchange
C. Frequent payments for online advertisements or non-local classified ads
D. Incoming fund transfers from third-party payment processors, with limited originator information

Question #3
Which risk factors should a financial institution (FI) examine for a new corporate customer intending to open a new bank account? (Select Three.)

A. The country or location where the customer is from or conducts business
B. The type of business the corporate customer is engaged in
C. The identity of senior managing officials and all individuals authorized to operate the account
D. All the financial institutions where the new customer currently banks or banked previously
E. The employment profiles and information of all employees of the new customer

Question #4
Which ML/TF risks are associated with cryptoassets? (Select Three.)

A. Devaluation
B. Global reach
C. Use to layer illicit funds
D. High transaction fees
E. Smart contract vulnerabilities
F. Potential for anonymity

Question #5
A large financial institution (FI) is considering expanding business to an area of the world with weak AML laws. The risk-based assessment indicates that the location will increase the FI's risk appetite beyond the stated acceptable amount. Which risk factors should be used to identify the priority of the FI?

A. Geographic risks
B. Unknown third-party risks
C. Cash-intensive businesses risks
D. Anonymous transactions risks

Solutions: