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ACAMS Exam Questions
- Topic 1: 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 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: 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 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.
Free Acams CAMS Exam Actual Questions
Note: Premium Questions for CAMS were last updated On Apr. 21, 2025 (see below)
Which regulatory bodies cooperate when dealing with cross-border suspicious or unusual financial activity investigations?
Financial Intelligence Units (FIUs) are the primary channels for sharing financial intelligence both within countries and across borders. FIUs cooperate with each other and other relevant law enforcement, regulatory, or intelligence agencies in the fight against money laundering, terrorism financing, and other financial crimes.
A recruitment manager in the human resources department of a bank has shortlisted a candidate for the position of relationship manager in its private banking division.
The bank's compliance policy requires proper background checks to protect against fraud and money laundering risks.
Which resources would be most useful for identifying potential negative information regarding the shortlisted candidate? (Select Three.)
Financial institutions must conduct thorough background checks on employees in sensitive roles (e.g., private banking) to mitigate fraud, insider trading, and money laundering risks.
Option A (Correct): Past employment records help verify work history and identify any red flags related to prior financial misconduct.
Option D (Correct): Internet and media searches reveal any negative press, regulatory issues, or connections to illicit activity.
Option E (Correct): Criminal history searches help screen for prior convictions related to financial crimes.
Why Other Options Are Incorrect:
Option B (Incorrect): Personal references are less reliable and may not uncover objective risk factors.
Option C (Incorrect): A resume is self-reported and should be verified using independent sources.
Best Practices for Employee Background Screening:
Conduct enhanced due diligence for high-risk roles (e.g., private bankers, compliance officers).
Use reliable background screening tools and legal databases.
Verify employment history and check against regulatory blacklists.
FATF Recommendation 18 (Internal Controls & Employee Screening)
Wolfsberg Group Guidance on AML Employee Background Checks
6th EU AML Directive (6AMLD) on Employee Due Diligence
How can awareness be raised within countries that do not have sanctions regulatory regimes? (Select Two.)
Many jurisdictions lack robust sanctions frameworks, requiring international cooperation and education to improve compliance.
Option B (Correct): Educational initiatives such as AML/sanctions training and workshops help raise awareness and build capacity.
Option D (Correct): Bilateral cooperation allows knowledge-sharing and technical assistance between regulatory authorities.
Why Other Options Are Incorrect:
Option A (Incorrect): Trade restrictions may pressure non-compliant nations, but they do not directly improve sanctions awareness.
Option C (Incorrect): Enforcing fines without prior education or assistance is ineffective and may create diplomatic tensions.
Best Practices for Sanctions Awareness & Compliance:
Develop international AML/sanctions training programs for emerging markets.
Encourage diplomatic engagement to strengthen legal frameworks.
Leverage FATF's Mutual Evaluation process to assess progress.
FATF Recommendation 6 (Sanctions & International Cooperation)
OFAC Guidance on Sanctions Compliance for Emerging Jurisdictions
Egmont Group Guidelines on Information Sharing & Capacity Building
What are the roles of a government Financial Intelligence Unit (FIU)? (Select Three.)
Financial Intelligence Units (FIUs) serve as national centers for collecting, analyzing, and disseminating AML/CFT information.
Option B (Correct): FIUs analyze SARs and STRs to detect money laundering and terrorist financing risks.
Option D (Correct): FIUs disseminate financial intelligence to local and international law enforcement agencies and other FIUs.
Option E (Correct): FIUs receive SARs/STRs from financial institutions, which form the basis for their analysis.
Why Other Options Are Incorrect:
Option A (Incorrect): FIUs do not prosecute cases; they refer findings to law enforcement agencies.
Option C (Incorrect): FIUs share intelligence, but prosecution is handled by judicial authorities, not FIUs.
Best Practices for FIUs:
Enhance data-sharing agreements with domestic and international agencies.
Use AI and analytics tools to detect suspicious financial patterns.
Ensure secure handling of sensitive AML/CFT data.
FATF Recommendation 29 (FIU Role & Responsibilities)
Egmont Group Guidelines on FIU Information Sharing
EU 6th AML Directive (6AMLD) on Financial Intelligence Functions
A financial institution (FI) is fined for failure to implement an effective AML program. Which consequences could the regulator impose on the bank's Chief AML Officer? (Select Three.)
Civil and Criminal Prosecution, Fines, and Imprisonment: The Chief AML Officer may face legal action, including both civil and criminal proceedings. This could result in fines and even imprisonment if found guilty of negligence or misconduct related to anti-money laundering compliance.
Ban from Employment: Regulators have the authority to ban individuals from working in the financial services industry if they are deemed unfit due to AML-related failures. Such a ban can significantly impact the individual's career prospects.
Recommend Termination of Employment: While the regulator cannot directly terminate employment, they can recommend that the financial institution (FI) take appropriate action, including termination, based on the Chief AML Officer's performance.
Anti-Money Laundering Specialist (the 6th edition) resources.
ACAMS AML Glossary (definitions of terms related to AML).1
ACAMS AML Foundations Certificate (overview of AML concepts and responsibilities).2
ComplyAdvantage: 6th Money Laundering Directive (6AMLD) (details on AML regulations and penalties).3
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