ACAMS Advanced-CAMS-Audit Actual Free Exam Questions & Community Discussion

Exam Code/Number: Advanced-CAMS-Audit
Exam Name/Title: Advanced CAMS-Audit Certification Exam
Certification Provider: ACAMS
Corresponding Certification: AML Certifications

Exam Questions: 90
Updated On: Sep 09, 2026

Question #1

An organization creates a document for its audit committee listing the outstanding audit findings. The list has an executive management owner assigned to each finding, due dates for reporting management's responses and space for management to identity the actions to be taken. Which is a primary purpose of this document?

A. Testing resiliency of proposed recommendations

B. Providing audit documentation of management responses

C. Tracking completion of proposed recommendations

D. Documenting audit team validation testing

Discussion 0

Correct Answer: C Vote an answer

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Question #2

Why is it crucial for the audit plan to consider the effectiveness of the AML risk assessment controls and risk mitigants?

A. Audits need to approve the implementation of the controls and review testing outcomes.

B. Improper identification and assessment of risk creates deficiencies resulting in an overall weakened AML compliance program.

C. There is a regulatory requirement for the audit to update the AML risk assessments on a continuous or specified periodic basis.

D. Strict CDD rules promote high ethical and professional standards in the financial industry.

Discussion 0

Correct Answer: B Vote an answer

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Question #3

A financial institution utilizes an automated daily validation report to validate the accuracy of the data flowing into its monitoring software. An auditor is responsible for testing the data used to create the report. This is an example of testing which type of effectiveness?

A. Program

B. Design

C. Software

D. Operating

Discussion 0

Correct Answer: D Vote an answer

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Question #4

A financial institution (FI) recently updated its transaction monitoring (TM) thresholds During validation which should be provided as evidence of optimized thresholds'? (Select Two.)

A. Length of time the FI has deployed the software program

B. Above-the-line and below-the-line testing

C. A copy of the FI's AML risk assessment

D. Comparison against past suspicious activity reported

E. Proof of validation from the TM software provider

Discussion 0

Correct Answer: B,D Vote an answer

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Question #5

Which should be incorporated into an AML compliance policy? (Select Three.)

A. Financial results reporting

B. Cryptocurrency threat assessment

C. Documentation record keeping

D. Mandatory training requirements

E. Suspicious activity reporting

F. Credit risk assessment

Discussion 0

Correct Answer: C,D,E Vote an answer

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Question #6

Which products/services increase the risk level for money laundering for XYZ Bank?

A. Letters of credit

B. Foreign exchange services

C. International fund transfers

D. Payable through accounts

Discussion 0

Correct Answer: C,D Vote an answer

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Question #7

Which requirement of a financial institution's compliance program should an auditor review first to understand key roles and responsibilities?

A. List of high-risk customers subject to enhanced due diligence and the measures taken to mitigate the risks

B. Names of politically exposed persons that are subject to ongoing monitoring

C. Designation of an individual or individuals responsible for coordinating and monitoring day-to-day compliance

D. List of suspicious transactions reported to the regulator

Discussion 0

Correct Answer: C Vote an answer

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Question #8

Which should be requested from a financial institution (FI) prior to beginning a data integrity review?

A. A report from the AML system showing the import of transactional data

B. An end-to-end diagram that depicts core elements such as source systems and data flows

C. The FI's AML risk assessment

D. A document from the vendor confirming the data integrity of the AML system's software

Discussion 0

Correct Answer: B Vote an answer

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Question #9

During the auditing process the auditor finds that the entity never updates the customers risk assessment.
Which remediation actions should the auditor suggest? (Select Two.)

A. Audit designates an audit manager to review customer profiles annually.

B. Compliance regularly updates the lists of high- and medium-risk countries to ensure updated customer risk profiles.

C. Delete non-active customer profiles to reduce the workload of ongoing surveillance.

D. Management engages an independent third party to update all the customer risk profiles.

E. The business updates the customer risk profiles periodically in accordance with the customer risk level.

Discussion 0

Correct Answer: B,E Vote an answer

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