ACAMS Official Site | CAMS Certification – Gold Standard in AML Compliance

Are you ready to advance your career in Anti-Money Laundering (AML), Fraud Prevention, and Financial Crime Compliance? The Certified Anti-Money Laundering Specialist (CAMS) credential from ACAMS is the global benchmark for compliance professionals. With financial penalties for non-compliance reaching record highs, banks, fintechs, crypto exchanges, and regulatory bodies actively seek CAMS-certified experts to safeguard their operations. Why choose the ACAMS CAMS certification? Global Recognition: Trusted by 200,000+ professionals in 180+ countries, including the Federal Reserve, HSBC, Binance, and JPMorgan Chase. Career Acceleration: CAMS holders earn 30-40% higher salaries than non-certified peers and are prioritized for roles like BSA Officer, MLRO, and Compliance Director. Up-to-Date Curriculum: The 2025/2026 syllabus covers emerging threats including Trade-Based Money Laundering (TBML), Cryptocurrency laundering, Sanctions evasion, and the EU’s 6th AML Directive. Flexible Learning: Choose self-study, live virtual classes, or in-person seminars. Access the ACAMS digital hub with practice exams, discussion forums, and interactive case studies. ACAMS-PREP-MOCK AND PRACTICE EXAM WITH COMPLETE ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ Which of the following is the most common method of laundering money through a legal money services business? A. Exchanging currency and remitting money B. Smuggling bulk cash C. Transferring funds through payable through accounts (PTAs) D. Exchanging Colombian pesos on the black market - ANSWER-A. Exchanging currency and remitting money In the 4th EU directive, to what level has the threshold decreased for inclusion of natural or legal persons trading in goods and making/receiving cash payments? A. $5,000 euros. B. $10,000 euros. C. $15,000 euros. D. $20,000 euros. - ANSWER-B. $10,000 euros. Tom works as a compliance officer at ABC Bank. He is looking at the transactions of one of the bank's customers, Mr. Brown, the owner of a check cashing company. Over the last six months, Mr. Brown has not made withdrawals of cash against check deposits. He also deposited two checks for $2,000 each that were issued by a casino. When checking the KYC file, Tom sees that, when opening the account, Mr. Brown had requested information about fees and commission that are charged by the bank. What should arouse Tom's suspicion the most? A. Mr. Brown deposited checks from casinos. B. Mr. Brown has not made cash withdrawals against check deposits. C. Mr. Brown asked for information about commissions and fees charged. D. Mr. Brown does not have an escrow account. - ANSWER-B. Mr. Brown has not made cash withdrawals against check deposits. In general, the three phases of money laundering are said to be: placement and A. structuring and manipulation. B. layering and integration. C. layering and smurfing. D. integration and infiltration. - ANSWER-B. layering and integration. Which statement is true? A. Systemic weaknesses in free trade zones include inadequate AML/CFT safeguards, minimal oversight by local authorities and weak procedures to inspect goods. B. Cuckoo smurfing is a significant money laundering technique identified by the Financial Action Task Force, wherein a form of structuring uses nested accounts with shell banks in secrecy havens. C. In its 40 Recommendations, the FATF issued a list of designated categories of offense that asserts crimes for a money laundering prosecution. D. E-cash is not attractive to the money launderer because it cannot be completely anonymous and does not allow for large amounts to be transported quickly and easily. - ANSWER-A. Systemic weaknesses in free trade zones include inadequate AML/CFT safeguards, minimal oversight by local authorities and weak procedures to inspect goods Which three of the following is an indication of possible money laundering in an insurance industry scenario? A. Insurance products sold through intermediaries, agents or brokers B. Single-premium insurance bonds, redeemed at a discount C. Policyholders who are unconcerned about penalties for early cancellation D. Policyholders who redeem the policy within the free look period C. Policyholders who are unconcerned about penalties for early cancellation D. Policyholders who redeem the policy within the free look period - ANSWER-B. Single-premium insurance bonds, redeemed at a discount What are three indicators of money laundering associated with using electronic funds transfers? - ANSWER-Funds transfers to or from financial secrecy haven without an apparent business reason. The marketing department presents a business plan targeting individuals holding important public positions. What are some steps the financial institution should implement as part of the plan to target such individuals? - ANSWER-Investigate the source of funds. Which of the following should an anti-money laundering specialist include on an internal investigation log? A. A government order on a customer that garnishes his wages for failure to pay child support B. Supporting documentation and materials for denying service to a client with a bad credit rating C. Notes pertaining to activity that is unusual but for which a suspicious transaction report has not been filed D. Reference to a memorandum to the company's corporate management relating to budgetary and similar concerns - ANSWER-C. Notes pertaining to activity that is unusual but for which a suspicious transaction report has not been filed What are the three key criteria in AML risk rating? A. Customer type, geographic location, products and services used B. Geographic location, customer type, employment status C. Products and services used, customer type and prior banking relations D. Employment status, customer type, products and services used - ANSWER-A. Customer type, geographic location, products and services used A financial institution is looking to establish an online account opening service. The institution plans to offer this product to new and existing customers within the country. Which of the following would be the best plan of action for an AML specialist to recommend enabling the institution to verify the customer's identity? A. Do not offer the product, because it is too high risk because the customers cannot be seen to verify their identities. B. Require all customers to send a copy of valid photo identification to the institution. C. Ensure that the institution has a reliable third-party source that will enable verification of the customers. D. Allow customers to enter required information but require all customers to come to the institution in person for verification. - ANSWER-C. Ensure that the institution has a reliable third-party source that will enable verification of the customers. Take all reasonable steps to check the background of the individual based on public information. Which statement is true about banking regulatory agencies having the authority to obtain information from regulated institutions? - ANSWER-The agencies authority to conduct examinations negates the need for a warrant or subpoena. A customer comes into the bank and appears to be ill-at-ease waiting in the teller line. When the customer gets to the teller, he becomes exceedingly nervous and asks for a large cashier's check to be cashed and disbursed to him in $100 bills. What should the teller do after completing the transaction? - ANSWER-File a SAR on the customer What is the term for trading through multiple accounts, where an individual generates offsetting profits and losses and transfers of positions through accounts that do not appear to be commonly controlled? - ANSWER-Wash Trading In performing a risk analysis, which factor(s) should a financial institution review? - ANSWER-Its customer base, location, products and services.