ACAMS CAMS Practice Exams
Last updated on Apr 12,2025 - Exam Code: CAMS
- Exam Name: Certified Anti-Money Laundering Specialist
- Certification Provider: ACAMS
- Latest update: Apr 12,2025
Which method is indicative of potential money laundering and terrorist financing activity?
- A . Client converts 500 Euro in mixed denomination notes to small denomination U.S. bills in a single transaction
- B . A commercial client in the export business regularly receives wire transfers from high risk countries
- C . An unknown client purchases multiple monetary instruments for one person during the course of one day
- D . An unknown client pays $1,000 in cash for an urgent transfer to a high risk country
What is an example of the integration stage of money laundering involving a bank or another deposit-taking institution?
- A . Depositing illicit funds into an account set up for a front company
- B . Directing third parties to exchange illicit cash for negotiable instruments
- C . Wiring illicit funds from an account at one bank to an account at another bank
- D . Using illicit funds that had previously been deposited to purchase a luxury vehicle
What is an example of the integration stage of money laundering involving a bank or another deposit-taking institution?
- A . Depositing illicit funds into an account set up for a front company
- B . Directing third parties to exchange illicit cash for negotiable instruments
- C . Wiring illicit funds from an account at one bank to an account at another bank
- D . Using illicit funds that had previously been deposited to purchase a luxury vehicle
Which of the following are money laundering red flags when reviewing business operations of a money services business (MSB)? (Select Two.)
- A . A customer exchanging foreign currency from a higher-risk jurisdiction for domestic currency under the reporting threshold.
- B . Cash-intensive businesses, such as convenience stores or restaurants, making large cash deposits.
- C . A customer completing frequent small-dollar international money transfers to their native country.
- D . A customer being hesitant to provide beneficiary name or address information when sending international wire transfers.
- E . A customer using multiple accounts under different names to conduct transactions.
Which of the following are money laundering red flags when reviewing business operations of a money services business (MSB)? (Select Two.)
- A . A customer exchanging foreign currency from a higher-risk jurisdiction for domestic currency under the reporting threshold.
- B . Cash-intensive businesses, such as convenience stores or restaurants, making large cash deposits.
- C . A customer completing frequent small-dollar international money transfers to their native country.
- D . A customer being hesitant to provide beneficiary name or address information when sending international wire transfers.
- E . A customer using multiple accounts under different names to conduct transactions.
A legal instrument that is executed between two nations and governs cross-border information sharing is known as a:
- A . Memorandum of agreement.
- B . Declaration of understanding.
- C . Memorandum of understanding.
- D . Mutual legal assistance treaty.
Which risk factors should a financial institution (FI) examine for a new corporate customer intending to open a bank account? (Select Three.)
- A . The type of business the corporate customer is engaged in.
- B . The employment profiles and information of all employees of the new customer.
- C . All the financial institutions where the new customer currently banks or banked previously.
- D . The identity of senior managing officials and all individuals authorized to operate the account.
- E . The country or location where the customer is from or conducts business.
An institution has made the decision to exit a client relationship due to anti-money laundering concerns. Prior to starting the close out process, the institution receives a written request from a law enforcement agency to keep the account open. The client is the subject of an ongoing investigation and law enforcement wants the institution to continue to monitor the account and report any suspicious activity.
What is primary consideration the institution should keep in mind when deciding whether to agree to this request?
- A . The anticipated cost of complying with the law enforcement request
- B . The number of suspicious transaction reports previously filed on the client
- C . The fact that the institution has a solid record in complying with law enforcement requests
- D . Whether the institution can continue to meet its regulatory obligations with the accounts open
Which of the following should an anti-money laundering specialist consider the most serious deficiency when detected during a regulatory audit of the anti-money laundering program?
- A . The compliance officer fails to have on-going meetings with upper management to keep them apprised of current money laundering trends.
- B . The company’s anti-money laundering manual has not been updated to reflect a recent internal control enhancement.
- C . The company has failed to download the most recent regulation from the Financial Intelligence Unit web site.
- D . The company has not implemented an anti-money laundering training program.
The AML investigator is reviewing the transaction monitoring alerts and the customer’s historical profile for the past two years. A review of the negative news search from a blog indicates that the customer was previously part of a terrorist group.
Which activities warrant further escalation? (Select Two.)
- A . The customer remitted monies in several transactions to the account of a recognized charity non-profit organization.
- B . The customer has bought and sold several real estate properties over the last year.
- C . The credit transactions in the account relate mostly to salary and rental income from property.
- D . The account received a large cash deposit followed by systematic automated teller machine (ATM) withdrawals until the balance was nominal.
- E . The customer conducts multiple cash transactions on a regular basis which do not match the customer’s occupation.