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What is the duration of the CAMS Exam

Format: Multiple choices, multiple answersLength of Examination: 3 1/2 hours

CAMS Certified Anti-Money Laundering Specialist Exam

CAMS Certified Anti-Money Laundering Specialist Exam is designed by the Association of certified anti-money laundering specialist (ACAMS) is a global membership organization that provides training and certification, of anti-money laundering professionals worldwide. ACAMS is supporting financial AML professionals through knowledge sharing and skills development. CAMS exam tests candidates basic knowledge on setting up an AML compliance program, money laundering schemes, various international AML regulations, and how to handle AML investigations. CAMS exam is internationally recognized and a good designation for those who are looking to work in the AML field.

>> CAMS Minimum Pass Score <<

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Recertification

Individuals must get recertified every three years if they wish to maintain their CAMS certification. To get recertified, individuals must have maintained their ACAMS membership, provide proof of having continued their professional education, and submit an online application along with a recertification fee.

ACAMS Certified Anti-Money Laundering Specialists Sample Questions (Q306-Q311):

NEW QUESTION # 306
A money remittance business will most likely attract money launderers because it:

• A. deals primarily in cash transactions.
• B. does not have to comply with transaction reporting.
• C. engages in international transactions.
• D. conducts transactions for walk-in customers.

Answer: A,C,D

NEW QUESTION # 307
Which information must a United States financial institution retain for having foreign correspondent accounts as part of the USA PATRIOT Act record keeping requirements?

• A. Section 314(b) information sharing results related to foreign correspondent accounts
• B. Records identifying the owners of each foreign bank
• C. Purchase of monetary instruments of $3,000 or more involving foreign correspondent accounts
• D. A suspicious activity report filed and the supporting documentation involving foreign correspondent accounts

Answer: A

Explanation:
Explanation/Reference: https://www.moneylaunderingnews.com/2017/10/aml-information-sharing-in-the-u-s/

NEW QUESTION # 308
Financial Action Task Force (FATF)-style regional bodies are created and obliged to understand the inherent money laundering and terrorist financing risks in the region of the world they serve.
What is one of the methods they use to understand these risks?

• A. They conduct regional-level research and analysis of the money laundering and terrorist financing methods and trends using standards and templates used for FATF typologies reports
• B. They require member countries to develop statistical metrics over money laundering and terrorist financing crimes
• C. They conduct global research on money laundering and terrorist financing trends and report their findings in their own typologies report
• D. They require participating financial institutions of their members to file suspicious transaction reports to the regional body

Answer: D

Explanation:
Reference: https://www.fatf-gafi.org/media/fatf/documents/recommendations/Private-Sector-Information- Sharing.pdf (18)

NEW QUESTION # 309
How do drug traffickers and other criminals use the fine art industry to disguise illicit proceeds?

• A. They commingle legitimate and illicit proceeds by principals for payment of fine art
• B. They use anonymous agents to buy the art and have the payment wired from offshore havens
• C. They immediately resell priceless works of art after purchase from a foreign auction house
• D. They use forged or fraudulent invoicing of priceless works of art by auction houses

Answer: B

NEW QUESTION # 310
A retail bank has just acquired a credit card business. The bank's anti-money laundering policy requires that new employees are trained within 30 days of their hire date and refresher training is delivered to all employees on an annual basis.
Is the bank's existing anti-money laundering training adequate to be delivered to employee of the newly acquired credit card business?

• A. Yes, the existing training covers the anti-money laundering regulations that the bank is required to follow.
• B. No, anti-money laundering training needs to be tailored and focused on the risks specific to the business.
• C. Yes, the existing training covers the bank's policies, procedures, and processes.
• D. No, anti-money laundering training needs to be delivered face-to-face for credit card businesses.

Answer: A

NEW QUESTION # 311
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