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 09, 2026

Question #1

During the interview, the local director informs the audit manager that no internal or regulatory audits have occurred since the local director's appointment The local director relies on a locally-approved independent external review of Company A performed 12 months ago by a local firm How should the audit manager respond?

A. Rely upon the independent external review report as the base to formulate conclusions of the current onsite visit by internal audit.

B. Validate the accuracy of content of the independent external review report by recommending an audit and assess if the findings of both the independent review and audit are similar.

C. Advise the group board that the group should set aside the external review reports as the use of the third party independent reviewer was not authorized at group board level.

D. Review the independent external review report to determine the extent to which reliance can be placed on it and identify matters requiring further review by internal audit.

Discussion 0

Correct Answer: D Vote an answer

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Question #2

Considering recent changes in the bank's correspondent banking business. Which is the most important risk indicator for the internal auditor to review?

A. The jurisdiction in which the respondent bank is located.

B. The major business activities of the respondent bank.

C. The management and ownership of the respondent bank.

D. The purpose of the services provided to the respondent bank.

Discussion 0

Correct Answer: A Vote an answer

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Question #3

Which recommendation should the audit team provide to address transaction monitoring (TM) issues?

A. Provide training for first-line staff on how to review and disposition TM alerts.

B. Switch off those detection scenarios that are producing too many false positives.

C. Perform a coverage assessment of the current suite of TM detection scenarios against the bank's money laundering and terrorist financing risks

D. Apply the same thresholds across all client types to ensure alignment of risk coverage.

Discussion 0

Correct Answer: C Vote an answer

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Question #4

The scoping and planning process of an AML audit of a bank is best guided by review of which document?

A. Report of independent audit conducted the previous year

B. Independent model validation and testing report of the bank's transaction surveillance systems

C. A document prepared to identify the inherent risk associated with a bank's products and services

D. Information technology security risk assessment of the bank's COD risk rating solution

Discussion 0

Correct Answer: C Vote an answer

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Question #5

An auditor should present exceptions identified during testing to the auditee after.

A. preliminary observation of exceptions.

B. final audit report issuance

C. performance of additional testing.

D. analysis of likelihood and impact.

Discussion 0

Correct Answer: D Vote an answer

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Question #6

Which should the external auditor recommend to ensure that the institution did not facilitate transactions involving a sanctioned person?

A. Re-screen all transactions over the period of time when the updated sanction lists were not uploaded against the current sanctions lists.

B. Periodically monitor the sanctions lists uploaded by the screening tool to ensure the most up-to-date lists are in the system.

C. Perform a security risk and access assessment on the sanction screening tool to ensure more timely sanctions lists are uploaded.

D. Re-screen all transactions based on the sanctions lists that were active at that time but not uploaded.

Discussion 0

Correct Answer: A Vote an answer

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Question #7

Following completion of testing and tuning of the parameters and thresholds of the transaction monitoring model which final step should the team recommend as necessary to verify effective model functioning?

A. Audit continuous monitoring

B. Data validation

C. Regulatory approvals

D. Model validation

Discussion 0

Correct Answer: D Vote an answer

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Question #8

When assessing the KYC process which should an auditor observe from the customer risk assessment? (Select Two)

A. The ultimate beneficial owners of the customer need to be Identified and verified.

B. The purpose and intended nature of the business relationship were not reviewed m the assessment.

C. Overseas shareholders not involved in the customer's dally operations are not beneficial owners.

D. If this was a face-to-face customer, the overall customer risk rating should be changed to low.

E. Self-declaration or Beneficial ownership should not be accepted as it is not adequate.

Discussion 0

Correct Answer: A,B Vote an answer

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Question #9

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. Comparison against past suspicious activity reported

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

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

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

E. Proof of validation from the TM software provider

Discussion 0

Correct Answer: A,B Vote an answer

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