Free ACAMS Advanced-CAMS-Audit Practice Test & Real Exam Questions

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 15, 2026

Question #10

An audit manager identifies that a financial institution (Fl) has not produced a business-level risk assessment in accordance with policy. The senior manager of the Fl assures that assessing risk at the individual client level and aggregating the data is an acceptable approach. How should the audit manager proceed?

A. Issue a finding that requires the completion of a business-level risk assessment.

B. Discuss with the senior manager to establish the risk appetite.

C. Accept the risk conclusions provided by the senior manager.

D. Test the accuracy of the mathematical aggregation of the risk assessments.

Discussion 0

Correct Answer: A Vote an answer

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Question #11

Which best explains why the auditor rates the audit finding on sanction screening severity high?

A. The finding is on a different audit topic than the KYC related findings.

B. The efficiency of the sanction screening tool is not properly tuned due to the wrong sanctions lists.

C. The tool might miss potential sanction violations given the long intervals before the sanctions lists are updated.

D. The organization might have reported a sanction breach that is not a current sanction violation.

Discussion 0

Correct Answer: C Vote an answer

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Question #12

Audits are designed to provide assurance that what key aspect of risk management framework is adequately designed and functioning effectively?

A. Procedures

B. Reporting

C. Risks

D. Controls

Discussion 0

Correct Answer: D Vote an answer

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Question #13

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

C. The FI's AML risk assessment

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

Discussion 0

Correct Answer: D Vote an answer

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Question #14

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

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

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

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

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

Discussion 0

Correct Answer: D Vote an answer

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Question #15

The standard audit report format requires that an executive summary of the findings is included. Which statement is most appropriate for summarizing detailed findings'?

A. The dealers have assured they are able to identify long-standing regular clients that are typically collectors and customers for occasional transactions.

B. Although the evidence of enhanced due diligence performed was not available audit was satisfied that the risk of higher risk clients has been appropriately mitigated.

C. Evidence indicated inconsistent application of the client risk rating procedures and lack of evidence of enhanced due diligence measures for higher risk clients.

D. Deletion of transaction records for completed occasional transactions is operationally an efficient practice.

Discussion 0

Correct Answer: C Vote an answer

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Question #16

Which are methods to test internal controls related to the CDD and KYC process? (Select Two.)

A. Ask the account officers whether the CDD and KYC information provided is correct.

B. Confirm if suspicious activity reports were filed following escalation for non-compliance with the CDD and KYC process.

C. Confirm with client onboarding teams whether or not high-risk customers exist.

D. Evaluate the results of the sample testing of new and existing customer relationships for adherence to the CDD and KYC process.

E. Review the accuracy of the gap analysis of the CDD and KYC policies and procedures against local regulations.

Discussion 0

Correct Answer: D,E Vote an answer

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Question #17

An auditor should verify that an institution has ensured its AML systems and controls include:

A. supporting documents of its risk management policies and risk profile in relation to money laundering.

B. training for senior management and the governing body only.

C. measures to ensure that money laundering risk is taken into account in its monthly operations.

D. daily reports by the institution's money laundering reporting officer on the operation and effectiveness of those systems and controls.

Discussion 0

Correct Answer: A Vote an answer

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Question #18

What type of audit approach should the auditor use when testing KYC files as part of an AML examination?

A. Horizontal

B. Full scope

C. Risk-based

D. Vertical

Discussion 0

Correct Answer: D Vote an answer

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