ACAMS CAMS7 Actual Free Exam Questions & Community Discussion

Exam Code/Number: CAMS7
Exam Name/Title: Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Certification Provider: ACAMS
Corresponding Certification: CAMS Certification

Exam Questions: 447
Updated On: Oct 08, 2026

Question #11

Which control would be most effective as part of a risk-based approach (RBA) to managing AML/CFT risk for a bank established in the EU that also has a branch in a high-risk third country outside of the EU?

A. Fully rely on central beneficial owner registry records in the high-risk third country to determine the ultimate beneficial owners of all customers

B. Automatically apply enhanced customer due diligence measures to all customers in the high-risk third-country branch regardless of risk level

C. Apply tailored due diligence measures, based on the level of risk posed by each customer following risk assessment

D. Monitor every cross-border transaction in real time, flagging all for enhanced scrutiny due to the country risk level

Discussion 0

Correct Answer: C Vote an answer

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Question #12

Which of the following is a key consideration for a global organization when managing AFC and sanctions compliance across multiple jurisdictions?

A. Ensuring group policies and procedures prioritize adherence to US regulations because they are the most influential worldwide

B. Ensuring group policies cater to compliance with each country's specific AML and sanctions regulations

C. Applying global AFC and sanctions policies to ensure consistency without the need to adapt to local regulations

D. Ensuring sanctions compliance by relying solely on international bodies like the UN because there is no requirement to adhere to local laws

Discussion 0

Correct Answer: B Vote an answer

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Question #13

What are the rules imposed by the Office of Foreign Assets Control (OFAC) for legal entities and persons related to the US? (Select Two.)

A. Nationals of the US must comply with OFAC rules, regardless of where they are located in the world.

B. Any foreign corporation is also penalized if it conducts transactions with sanctioned countries under OFAC rules.

C. A subsidiary of a legal entity of the US, which is formally registered in a foreign country, is exempt from OFAC rules.

D. A foreign individual visiting the US for a short vacation is obligated to follow OFAC rules.

E. The head office of a foreign legal entity which has a branch in the US does not need to comply with OFAC rules.

Discussion 0

Correct Answer: A,B Vote an answer

Question #14

What are the primary sources of reference besides AML laws and regulations when developing and maintaining the AML policies, standards, and procedures of a bank? (Choose three.)

A. Government or state-run newspapers

B. Policies and procedures developed by other banks

C. Regulatory guidance or publications

D. National Risk Assessment

E. Guidance issued by international bodies

Discussion 0

Correct Answer: C,D,E Vote an answer

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Question #15

Challenges in the implementation of new technologies for AML/CFT include: (Select Four.)

A. data quality.

B. data privacy.

C. complexity.

D. enhanced due diligence (EDD) policies.

E. the Travel Rule.

F. regulatory.

Discussion 0

Correct Answer: A,B,C,E Vote an answer

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Question #16

Which of the following corporate structures present a higher money laundering risk because of reduced transparency? (Select Three.)

A. A company with nominee shareholders and directors in a local jurisdiction

B. A company with bearer shares incorporated in a tax haven jurisdiction

C. A limited liability company incorporated in a foreign jurisdiction

D. A private company that has no activity in a tax haven jurisdiction

E. A private investment company incorporated in a tax haven jurisdiction with strict secrecy laws

Discussion 0

Correct Answer: A,B,C Vote an answer

Question #17

The Wolfsberg Group's 2012 "Principles (or Private Banking" established that.

A. private banks agree that transparency of client beneficial ownership Is necessary and appropriate.

B. due diligence requirements tor private banking customers are necessary to prevent predicate offenses.

C. risk based approaches are insufficient to address the heightened risk presented through private banking

D. private banks need to better coordinate and align their global AML control environment strategies.

Discussion 0

Correct Answer: A Vote an answer

Question #18

During which process must a country demonstrate to the Financial Action Task Force (FATF) that it has an effective framework to protect the financial system from abuse?

A. Technical analysis

B. Regulatory overview

C. Formal assessment

D. Mutual evaluation

Discussion 0

Correct Answer: D Vote an answer

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Question #19

The Office of Foreign Assets Control (OFAC) is responsible for:

A. Administering and enforcing economic and trade sanctions

B. Designating jurisdictions as primary money laundering concerns

C. Managing trade agreements between the US and foreign countries

D. Ensuring an effective export control and treaty compliance system

Discussion 0

Correct Answer: A Vote an answer

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Question #20

Which of the following programs would most likely be considered part of an effective supervision regime for a regulator?

A. Onsite reviews, cooperating on an international and domestic basis with outreach and access to a range of sanctions

B. Onsite and offsite reviews, cooperating on an international and domestic basis with access to a range of sanctions and outreach

C. Offsite reviews, cooperating on a domestic basis with access to a range of sanctions and outreach

D. Onsite and offsite reviews, cooperating on an international basis with access to a range of sanctions and outreach

Discussion 0

Correct Answer: B Vote an answer

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