Free ACAMS CAMS7 Practice Test & Real Exam Questions

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: Jun 10, 2026

Question #21

An organization is developing a comprehensive anti-money laundering (AML) framework. Which of the following statements best describes the relationship between AML policies and procedures?

A. Policies define the principles of an organization and influence the drafting of procedures.Procedures are detailed instructions for specific processes.

B. Policies are detailed instructions for specific processes. Procedures are an overarching framework. Neither policies nor procedures are mandatory for knowledge and adherence

C. Policies are detailed instructions for specific processes Procedures are an overarching framework Both policies and procedures are mandatory for knowledge and adherence.

D. Policies are broad guidelines. Procedures are detailed Instructions for specific processes. Only procedures are mandatory for knowledge and adherence.

Discussion 0

Correct Answer: A Vote an answer

Question #22

Which techniques are most commonly used in a rules-based approach to transaction monitoring for detecting suspicious activities? (Choose two.)

A. Using predefined rules to flag specific transaction patterns

B. Statistical tuning of monitoring scenarios to improve accuracy

C. Using advanced machine learning models to detect outliers

D. Randomly flagging transactions for further investigation

E. Setting transaction thresholds for automated alerts

Discussion 0

Correct Answer: A,E Vote an answer

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Question #23

Which ancillary departments or operational areas can play an essential role in supporting a larger organization's Anti-Money Laundering and Economic Sanctions compliance program? (Choose three.)

A. Marketing

B. Fraud risk management

C. Model risk management

D. Technology solutions and IT security

E. Accounting

Discussion 0

Correct Answer: B,D,E Vote an answer

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Question #24

Common risks associated with cryptocurrency and convertible virtual currencies include: (Choose three.)

A. layering transactions to hide the origin of funds derived from illicit activity.

B. difficulty converting into physical currency.

C. obscuring the source of illicit funds.

D. facilitating payment for other illicit activities and goods.

E. funds being stolen from other users.

Discussion 0

Correct Answer: A,C,D Vote an answer

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Question #25

What are the primary advantages of using open-source tools in financial crime investigations?
(Choose two.)

A. Enhanced ability to identity connections across various data sets

B. Real-time monitoring of selected transactions and data sources

C. Partial automation of data collection and analysis

D. Cost-effective access to a wide range of data

E. Ability to conduct investigations with minimal human oversight

Discussion 0

Correct Answer: C,D Vote an answer

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Question #26

Which factors should be prioritized when choosing an anti-financial crime (AFC) tool for an organization? (Select Two.)

A. Scalability to handle increasing transaction volumes

B. Compatibility with existing IT infrastructure

C. Preference for the lowest-cost solution

D. Complete elimination of manual processes

E. Real-time data analysis capabilities as part of a broader strategy

Discussion 0

Correct Answer: A,B Vote an answer

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Question #27

Which regulation permits financial institutions, upon providing notice to the US Department of the Treasury, to share information with one another in order to identify and report activities that may involve money laundering or terrorist activity to the federal government?

A. USA Patriot Act Section 314(a)

B. Regulation (EU) 2024/1624 of the European Parliament

C. Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases (COSMIC)

D. USA Patriot Act Section 314(b)

Discussion 0

Correct Answer: D Vote an answer

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Question #28

An institution is looking to alter an existing threshold-based monitoring scenario because it is generating too many alerts that do not yield suspicious activity reports. Documentation submitted to the relevant committee for supporting this proposal should include details on: (Choose three.)

A. the number of cases that will not be filed and the resources that can be freed up for other tasks.

B. evidence that the increased residual risk arising from the change is within the bank's risk appetite.

C. minutes of meeting held with the regulator where agreement was obtained that the higher threshold was justified.

D. how many resources are spent on the less productive lower threshold and the associated costs.

E. historical analysis proving that the current scenario generates a disproportionate number of false positives.

F. approval by money-laundering reporting officer for the proposal.

Discussion 0

Correct Answer: B,D,E Vote an answer

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Question #29

Interactions between the compliance department and other functions or departments within an organization contribute to making the anti-financial crime (AFC) compliance program more robust by addressing specific risk areas. Which departments play a crucial role in enhancing the AFC compliance program of an organization? (Select Two.)

A. Marketing and sales

B. Human resources (HR)

C. Data privacy office (DPO)

D. Information security office (ISO)

Discussion 0

Correct Answer: C,D Vote an answer

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Question #30

Which red flags apply to trade-based money laundering (TBML) schemes? (Choose three.)

A. Instructions or involvement from third parties

B. Use of wire transfers

C. Amended letters of credit without reasonable justification

D. Non-standard settlement arrangements

E. Loitering

Discussion 0

Correct Answer: A,C,D Vote an answer

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