CAMS – CERTIFIED ANTI-MONEY LAUNDERING
SPECIALIST STUDY GUIDE EXAM QUESTIONS WITH
CORRECT ANSWERS
What is one method of money laundering mentioned in the study
guide? --CORRECT ANSWER--Electronic transfers of funds.
What is correspondent banking? --CORRECT ANSWER--A banking
arrangement where one bank provides services on behalf of another
bank.
What is a payable-through account? --CORRECT ANSWER--An
account that allows a foreign bank to offer its customers direct access
to the U.S. banking system.
What is remote deposit capture? --CORRECT ANSWER--A method
that allows customers to deposit checks remotely using a mobile
device.
What is the significance of the CAMS designation? --CORRECT
ANSWER--It signifies expertise in anti-money laundering and
compliance.
Page 1 of 106
,Who contributed significantly to the development of the CAMS
Examination? --CORRECT ANSWER--Members of the CAMS
Examination Task Force.
What is the copyright year of the CAMS Certification Exam Study
Guide? --CORRECT ANSWER--2018
What is the ISBN of the CAMS Certification Exam Study Guide? --
CORRECT ANSWER--978-0-9777495-2-2
What is the role of ACAMS Chapters worldwide in the CAMS
Examination? --CORRECT ANSWER--They contribute to the
development of the CAMS Examination.
Who is the Executive Chair of the CAMS Certification Exam Task
Force? --CORRECT ANSWER--John J. Byrne, CAMS
What organization publishes the CAMS Certification Exam Study
Guide? --CORRECT ANSWER--ACAMS (Association of Certified
Anti-Money Laundering Specialists)
Page 2 of 106
,What is the primary focus of the CAMS Certification Exam? --
CORRECT ANSWER--Anti-Money Laundering (AML) and Counter
Financing of Terrorism (CFT)
What are the three stages in the money laundering cycle? --
CORRECT ANSWER--Placement, Layering, Integration
What are the economic and social consequences of money
laundering? --CORRECT ANSWER--They can include damage to the
financial system, increased crime, and loss of government revenue.
What is the purpose of AML/CFT compliance programs? --
CORRECT ANSWER--To prevent and detect money laundering and
terrorist financing activities.
What is the significance of individual accountability in AML/CFT
compliance programs? --CORRECT ANSWER--It ensures that
individuals are responsible for their actions in preventing money
laundering.
What is the main goal of money laundering? --CORRECT ANSWER-
-To conceal the origins of illegally obtained money.
Page 3 of 106
, What is the role of banks in money laundering? --CORRECT
ANSWER--Banks can be used to facilitate the movement and
concealment of illicit funds.
What does CAMS stand for? --CORRECT ANSWER--Certified Anti-
Money Laundering Specialist.
Who is a special contributor mentioned in the study guide? --
CORRECT ANSWER--Gina Storelli, CAMS-Audit.
What is the purpose of the CAMS Examination Task Force? --
CORRECT ANSWER--To develop and maintain the CAMS
Examination and Study Guide.
What is a key component of AML/CFT compliance programs? --
CORRECT ANSWER--Risk assessment and management.
What does the term 'layering' refer to in the money laundering cycle?
--CORRECT ANSWER--The process of concealing the source of
illicit funds through complex transactions.
Page 4 of 106
SPECIALIST STUDY GUIDE EXAM QUESTIONS WITH
CORRECT ANSWERS
What is one method of money laundering mentioned in the study
guide? --CORRECT ANSWER--Electronic transfers of funds.
What is correspondent banking? --CORRECT ANSWER--A banking
arrangement where one bank provides services on behalf of another
bank.
What is a payable-through account? --CORRECT ANSWER--An
account that allows a foreign bank to offer its customers direct access
to the U.S. banking system.
What is remote deposit capture? --CORRECT ANSWER--A method
that allows customers to deposit checks remotely using a mobile
device.
What is the significance of the CAMS designation? --CORRECT
ANSWER--It signifies expertise in anti-money laundering and
compliance.
Page 1 of 106
,Who contributed significantly to the development of the CAMS
Examination? --CORRECT ANSWER--Members of the CAMS
Examination Task Force.
What is the copyright year of the CAMS Certification Exam Study
Guide? --CORRECT ANSWER--2018
What is the ISBN of the CAMS Certification Exam Study Guide? --
CORRECT ANSWER--978-0-9777495-2-2
What is the role of ACAMS Chapters worldwide in the CAMS
Examination? --CORRECT ANSWER--They contribute to the
development of the CAMS Examination.
Who is the Executive Chair of the CAMS Certification Exam Task
Force? --CORRECT ANSWER--John J. Byrne, CAMS
What organization publishes the CAMS Certification Exam Study
Guide? --CORRECT ANSWER--ACAMS (Association of Certified
Anti-Money Laundering Specialists)
Page 2 of 106
,What is the primary focus of the CAMS Certification Exam? --
CORRECT ANSWER--Anti-Money Laundering (AML) and Counter
Financing of Terrorism (CFT)
What are the three stages in the money laundering cycle? --
CORRECT ANSWER--Placement, Layering, Integration
What are the economic and social consequences of money
laundering? --CORRECT ANSWER--They can include damage to the
financial system, increased crime, and loss of government revenue.
What is the purpose of AML/CFT compliance programs? --
CORRECT ANSWER--To prevent and detect money laundering and
terrorist financing activities.
What is the significance of individual accountability in AML/CFT
compliance programs? --CORRECT ANSWER--It ensures that
individuals are responsible for their actions in preventing money
laundering.
What is the main goal of money laundering? --CORRECT ANSWER-
-To conceal the origins of illegally obtained money.
Page 3 of 106
, What is the role of banks in money laundering? --CORRECT
ANSWER--Banks can be used to facilitate the movement and
concealment of illicit funds.
What does CAMS stand for? --CORRECT ANSWER--Certified Anti-
Money Laundering Specialist.
Who is a special contributor mentioned in the study guide? --
CORRECT ANSWER--Gina Storelli, CAMS-Audit.
What is the purpose of the CAMS Examination Task Force? --
CORRECT ANSWER--To develop and maintain the CAMS
Examination and Study Guide.
What is a key component of AML/CFT compliance programs? --
CORRECT ANSWER--Risk assessment and management.
What does the term 'layering' refer to in the money laundering cycle?
--CORRECT ANSWER--The process of concealing the source of
illicit funds through complex transactions.
Page 4 of 106
