ACAMS CAMS Practice Exams
Last updated on Oct 21,2026- Exam Code: CAMS
- Exam Name: Certified Anti-Money Laundering Specialist
- Certification Provider: ACAMS
- Latest update: Oct 21,2026
Which of the below statements are supported by the Financial Action Task Force (FATF) 40 Recommendations adopted in 2012? (Select Two.)
- A . Regulators should direct Financial Institutions to establish appropriate frameworks to avoid banking higher-risk customers.
- B . Nations should work towards implementing targeted financial sanctions in alignment with the UN Security Council.
- C . Nations should establish frameworks that take a risk-based approach to prevent and mitigate money laundering and terrorist financing.
- D . Governments must work toward developing identical administrative and operational frameworks for investigating and prosecuting crime.
- E . Nations should take measures to ensure there is transparency to the beneficial ownership of legal persons.
OFAC-issued regulations apply to which entities? (Choose two.)
- A . Intermediaries transacting with US banks
- B . Foreign banks with US customers
- C . Foreign subsidiaries of US banks
- D . US branches of a foreign bank
- E . Foreign import-export companies
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 . Incorporate due diligence results such as customer risk ratings
- C . Utilize downstream correspondents to investigate and report suspicious activity
- D . Investigate and report suspicious activity only for the correspondent bank’s clients
An anti-money laundering specialist at a large institution is responsible for informing senior management about the status of the anti-money laundering program across the organization. The global institution handles retail banking, commercial banking, global markets, private banking and has an affiliated securities dealer. The specialist and the team provide corporate strategic direction to these areas on anti-money laundering related subjects.
The following information is reported to executive management on a regular basis:
• Total number of suspicious transactions identified and reported
• Suspicious transaction trends
• Training that has occurred for the various units
• Status report on the anti-money laundering regulatory environment
• Summary of exception reports
Which of the following additional elements is the most useful?
- A . The total credit exposure for non-cooperative countries and territories.
- B . Results of related audits and examinations.
- C . Details on inquiries received from law enforcement.
- D . Notification of management changes in the different major divisions.
What is an essential element of Know Your Customer (KYC) standards according to the Basel Committee’s Customer Due Diligence for Banks paper?
- A . Annual staff training
- B . A customer acceptance policy
- C . The same KYC requirements must be applied in all cases
- D . All completed KYC documents must be reviewed by a senior manager not involved in the account
opening
process
A new customer has just been onboarded in a securities firm. After a few weeks, there are unusual trading patterns that are being flagged.
Which pattern is most concerning to the compliance officer?
- A . The customer engages in large trading in securities that are liquid or highly priced from the trading account.
- B . The customer’s repeated trading in securities that are low priced and low volume counters.
- C . The customer receives many incoming wire transfers from related parties to the trading account.
- D . The customer accumulates securities of a low volume counter in small increments on a weekly basis.
Which transaction monitoring processes would alert a bank for red flag activity?
- A . A client who does not typically make extravagant credit card purchases books an airline ticket on a travel website.
- B . The company has a name that is similar to that of a company whose directors are named on the bank’s internal blacklist.
- C . A client makes a prepayment on their credit card and a week later makes multiple cash withdrawals using an automated teller machine (ATM) in a foreign country.
- D . A charity account receives multiple electronic transfers and then sends a wire transfer to a higher-risk country.
Money laundering has social and economic impacts, especially within developing countries. A high volume of money laundering in a country may: (Select Two.)
- A . Reduce confidence in the country’s financial sector.
- B . Dissuade government tax incentive programs.
- C . Lower the employment rate.
- D . Dissuade foreign investment.
- E . Reduce volatility in exchange and interest rates.
Frequent wire transfers into an account immediately followed by checks (cheques) or other payment instruments drawn on the account.
- A . 1 and 2 only
- B . 1 and 3 only
- C . 2 and 3 only
- D . 1, 2, and 3
Which assessments are involved in the processes of mutual evaluation and follow-up by the FATF?
- A . Risk assessments and technical standards assessments
- B . Technical compliance assessments and effectiveness assessment
- C . Sanction risk assessments and the country’s National Risk Assessment
- D . Country audit assessments and transaction monitoring assessments