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

1. The primary roles of a Country's Financial Intelligence Unit (FIU) include: (Select Two.)

A) conducting examinations of financial institutions to ensure compliance with anti-money laundering regulations.
B) collaborating with law enforcement agencies, financial institutions, and other stakeholders to detect and prevent Illicit financial activities.
C) facilitating the exchange of information between the public and private sectors.
D) enacting legislation regarding the operations of financial institutions.
E) engaging in providing financial services, including banking and investment activities, to the public and private sectors

2. Which of the following are included in the 11 Immediate Outcomes outlined in the Financial Action Task Force (FATF) methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT/CPF systems during mutual evaluations?
(Select Three.)

A) Those convicted of money laundering offenses are denied access to basic banking services
B) Financial intelligence information is collected by authorities and shared with the FATF for further investigation
C) Supervisors regulate financial institutions and non-bank financial institutions and their risk-based AML/CFT programs
D) International cooperation provides actionable information to use against criminals
E) Money laundering offenses are investigated and criminally prosecuted

3. Which practices should financial institutions (FIs) adopt for the process of terminating customer relationships? (Choose three.)

A) Performing a final review of a customer's transaction history and records to address any unresolved issues prior to termination
B) Implementing a standardized procedure for customer termination that includes risk assessments and necessary documentation
C) Utilizing a flexible communication style that adapts to different customer situations during the termination process
D) Keeping records of the termination process, including the justification for the decision and any correspondence with the customer
E) Notifying the customer of the termination decision only after completing the termination process to prevent possible disputes

4. 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 while located in the US, all US incorporated entities and their foreign branches, and all individuals within the United States
B) 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
C) 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
D) All US citizens except those with dual nationality, US permanent residents, all US incorporated entities, and all individuals within the United States

5. Using artificial intelligence (Al) and machine learning-based techniques tn adverse media screening can: (Choose three.)

A) ensure that all adverse media sources are comprehensively analyzed without the need for human review.
B) cover multiple languages and scripts, surpassing the limitations of human linguistics.
C) automate the process of identifying new information and distinguishing it from previously encountered data.
D) significantly reduce human errors arising from repetitive tasks by delivering consistent and highly accurate analysis.
E) instantly identify intent behind media articles, allowing for more effective risk scoring.

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