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ACAMS CAMS7 Exam Syllabus Topics:

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

1. 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) Operating a network of crypto ATMs charging high fees
C) Allowing clients lo transact anonymity-enhanced tokens
D) Lack of adequate IP address tracking capabilities
E) Offering services to VASPs established in jurisdictions that are not FATF compliant
F) Onboardlng of clients who are residents abroad. Including those with politically exposed person (PEP) status

2. Which control would be most effective as part of a risk-based approach (RBA) to managing AML/CFT risk for a bank established in the EU that also has a branch in a high-risk third country outside of the EU?

A) Fully rely on central beneficial owner registry records in the high-risk third country to determine the ultimate beneficial owners of all customers
B) Apply tailored due diligence measures, based on the level of risk posed by each customer following risk assessment
C) Automatically apply enhanced customer due diligence measures to all customers in the high-risk third-country branch regardless of risk level
D) Monitor every cross-border transaction in real time, flagging all for enhanced scrutiny due to the country risk level

3. Which statement is the most accurate describing who must comply with Office of Foreign Assets Control (OFAC) sanctions?

A) All US citizens and permanent residents regardless of where they are located, all US incorporated entities excluding their foreign branches, and all individuals and entities within the United States
B) All US citizens and permanent residents while located in the US, all US incorporated entities and their foreign branches, and all individuals within the United States
C) All US citizens and permanent residents regardless of where they are located, all US incorporated entities and their foreign branches, and all individuals and entities within the United States
D) All US citizens except those with dual nationality, US permanent residents, all US incorporated entities, and all individuals within the United States

4. A compliance officer is developing management reporting information to provide leadership with insights into the financial crime risk related to an institution's customer population. Which of the following is a key risk indicator to include in the reporting to allow leadership to monitor whether there are any key changes to the inherent risk of the customer population? (Choose two.)

A) Percentage of customers for whom onboarding verification was not completed within KYC policy service-level agreement (SLA) requirements
B) Percentage of regulatory reports for high-risk customers not completed within the required regulatory deadlines
C) Number and percentage of senior politically exposed persons (PEPs) who were onboarded in the past quarter compared to all active customers
D) Percentage change of transaction monitoring alerts escalated for investigation compared to the previous quarter

5. An insurance company receives an application for a high-value life insurance policy from a new non- resident client. The payout instruction is linked to an offshore trust in another jurisdiction to which the client has no obvious connection. The client insists on paying premiums via multiple transactions to "avoid bank charges." The client is reportedly unemployed with minimal assets, which is inconsistent with the policy value. Which financial crime risk should the insurance company be most concerned with?

A) Sanctions evasion
B) Fraud
C) Market abuse
D) Money laundering

Solutions: