CAMS Practice Exam — CAMS Anti-Money Laundering Specialist

Exam information

I. Exam Specifications

Certification Name： Certified Anti-Money Laundering Specialist (CAMS) Globally recognized AML specialist qualification

Issuing Body： Association of Certified Anti-Money Laundering Specialists (ACAMS)

Exam Delivery Format： Computer-based examination Administered at global Pearson VUE test centers or via remote proctoring

Available Exam Languages： English, Simplified Chinese, Spanish, Arabic and other languages Final issued certificate is printed in English only

Total Questions： 120 multiple-choice items (approx.30 unscored pre-test questions) Around 90 scored test items in total

Exam Duration ： 210 minutes (3.5 hours) No scheduled break allowed during exam

Passing Standard： Scaled passing score:75 out of 100 (~75% accuracy requirement) Instant score report released upon exam completion

Standard Exam Pricing： Full package: USD 1,595 (includes first-year ACAMS membership + official study materials)<br>Retake for ACAMS members: USD 375<br>Retake for non-members: USD 475 Fee subject to adjustment per official ACAMS announcement

Exam Authorization： Validity 12 months from payment date; exam appointment must be completed within 6 months after scheduling New application required once validity expires

Retake Regulation： Maximum two retake attempts; a minimum 30-day cooling-off period between each retake Full application resubmission required for a third exam attempt

Certification Lifespan： Valid for 3 years Continuing education and annual membership renewal mandatory to maintain active status

II. Eligibility Criteria: 40-Point Qualification System

Point Calculation Rules

Academic Credentials College diploma =10 pts; Bachelor’s =20 pts; Master’s =30 pts; Doctorate =40 pts Points counted based on the highest earned degree only

Relevant Working Experience 10 points per full year of employment in AML/financial crime compliance Applicable roles: compliance, risk control, internal audit, financial investigation

Formal Professional Training 1 point per completed training hour related to financial crime Supporting training documentation is required for validation

Qualification Exemption Active CGSS (Certified Global Sanctions Specialist) holders Automatically eligible to register for CAMS without accumulating 40 points

Mandatory Preconditions

- Obtain valid ACAMS individual membership

- Complete the 40-point eligibility review and receive approval

- Abide by ACAMS Code of Professional Ethics

III. Exam Syllabus & Weight Distribution

Building an AML Compliance Program ~28% Enterprise-wide risk assessment, policy & procedure formulation, internal controls, compliance training, independent compliance audit, AML technology deployment

ML/TF Risks and Methods ~26% Three stages of money laundering (Placement, Layering, Integration), Terrorist Financing, Proliferation Financing, emerging risks including virtual asset & trade-based money laundering

Global AML Regulatory Standards ~25% FATF 40 Recommendations, Wolfsberg Group Principles, key national & regional rules (USA PATRIOT Act, EU AML Directives), international sanctions compliance

Investigations & Suspicious Activity Reporting ~21% Suspicious transaction identification, internal investigation workflows, SAR/STR filing requirements, law enforcement coordination, CDD & EDD implementation

IV. Application Roadmap & Critical Timeline Rules

Step-by-Step Application Guide

1. Register a personal account on the official ACAMS website (acams.org)

2. Select and purchase the official CAMS exam package (membership + study guide + exam voucher included)

3. Submit academic and employment supporting documents for the 40-point eligibility audit

4. Complete self-study with the official CAMS Study Guide (7th Edition) and online learning resources

5. Book your exam via Pearson VUE portal for on-site or remote proctoring

6. Attend scheduled exam with two government-issued photo IDs for identity verification

7. Receive instant test score upon submission; official certification issued around 8 weeks after passing

Key Time Restrictions

- Maximum 12 months allowed from payment to final exam scheduling

- Exam must be taken within 6 months after appointment confirmation

- Failed candidates may retest after a minimum 30-day waiting window with two retake limits total

V. Structured Study Roadmap

1. Phase 1 (4–6 weeks): Complete full reading of official textbook to build core knowledge framework; prioritize mastering FATF 40 Recommendations

2. Phase 2 (3–4 weeks): Modular knowledge consolidation paired with scenario practice; master AML compliance requirements across banking, securities and insurance industries

3. Phase 3 (2–3 weeks): Timed mock exam drills to identify knowledge gaps and adapt to official exam pacing

4. Final Sprint (1 week): Review high-frequency exam topics, adjust personal schedule and prepare exam-day paperwork

VI. Certification Renewal & Recertification Requirements

Recert Terms & Obligations

- Renewal Cycle: Every 3 calendar years

- Continuing Education Requirement: Accumulate 60 ACAMS continuing education credits via conferences, formal training or published compliance articles

- Recert Administrative Fee: USD 250

- Membership Maintenance: Sustain active ACAMS membership (annual membership fee approx. USD 299)

Benefits of Active Recertification

- Sustain professional competitiveness and prove ongoing competency development

- Gain exclusive access to ACAMS global practitioner networking and career resources

- Enhance promotion prospects within financial institutions, regulatory authorities and compliance consulting firms

VII. Target Candidates & Professional Value of CAMS Certification

Ideal Candidate Pool

- Compliance, risk and internal audit practitioners in financial institutions

- AML transaction monitoring and financial investigation specialists

- Financial regulatory authority officers

- Compliance counsel at law firms

- Compliance management staff at fintech enterprises

Core Professional Benefits

- Globally recognized gold-standard credential for financial crime compliance industry

- Certified holders generally earn 15%–25% higher compensation than non-certified peers

- Core prerequisite qualification for senior compliance management promotion

- Mandatory certification for key compliance posts at most international financial institutions worldwide

Sample questions

CAMS · Q1

Question #1 A bank account is established for a new business customer. The business was established five years ago with an address in another state. The business website contains few details other than stating it is a real estate business.One principal has an international telephone number and appears to be living in another country. The other principal works out of a recreational vehicle.What warrants enhanced due diligence in this scenario?

A.
Shell company
B.
Human trafficker
C.
Politically exposed person
D.
Money laundering through real estate

Answer: A

This scenario presents multiple red flags aligned with high-risk opaque corporate entities that require enhanced due diligence (EDD) per CAMS AML framework requirements. The business in question lacks verifiable operational details: its website provides no information beyond stating it is a real estate business, the entity is registered in a different state than the bank location, one principal resides internationally with only an international contact number, and the second principal has no fixed physical address, operating from a recreational vehicle. These indicators collectively point to a lack of transparent ownership and operational footprint, which are core risk factors that trigger mandatory EDD to confirm legitimate business activity, identify all beneficial owners, and assess money laundering risk. The suggested answer, shell company, directly addresses the root risk presented in the scenario. Option Analysis: A. Correct. Per CAMS certification domain knowledge, shell companies are legal entities with no active business operations, significant physical presence, or transparent beneficial ownership, and are frequently abused for money laundering, terrorist financing, and other illicit activity. The scenario’s red flags, including minimal public operational disclosures, no fixed physical address for the business or one principal, and an international principal with no verifiable local ties, all match CAMS-identified shell company risk factors that mandate enhanced due diligence. B. Incorrect. There are no red flags indicative of human trafficking present in the scenario. CAMS identifies human trafficking red flags as including unusual transactions tied to unregistered labor recruitment firms, frequent small cash deposits in accounts held by low-wage workers, payments to anonymous third parties associated with labor exploitation, or indicators of individual coercion, none of which are referenced in the provided scenario details. C. Incorrect. There is no indication that either principal qualifies as a Politically Exposed Person (PEP). Per CAMS standards, PEPs are individuals who hold or have recently held a prominent public function, as well as their immediate family members and close known associates. No details in the scenario suggest any principal meets this definition, so PEP risk is not present. D. Incorrect. While the business identifies itself as a real estate entity, there are no specific red flags for money laundering through real estate outlined in the scenario. CAMS identifies real estate money laundering red flags as including unusual property purchase/sale transactions, intentional over or undervaluation of real estate assets, frequent short-term property flips, or transactions involving high-risk jurisdictions unconnected to stated business operations. The core risk in this scenario is the opaque corporate structure, not real estate-specific laundering activity. Key Concepts: 1. Shell Company Risk Indicators: CAMS defines shell companies as high-risk entities that typically lack verifiable operational activity, fixed physical premises, and transparent beneficial ownership. These entities are a common vehicle for illicit finance, so identification of matching red flags mandates enhanced due diligence. 2. Enhanced Due Diligence (EDD) Triggers: Per CAMS AML frameworks, EDD is required for higher-risk customer categories, including entities with opaque ownership structures, cross-border associated principals, and no verifiable operational footprint, as these factors significantly increase money laundering and terrorist financing risk. 3. Beneficial Ownership Verification: A core CAMS requirement for business customer onboarding is confirmation of the identity of all individuals who own or control 25% or more of a legal entity, or who exercise effective operational control. The lack of transparency in the presented scenario creates a barrier to meeting this requirement, justifying EDD. References: ACAMS Certified Anti-Money Laundering Specialist (CAMS) Study Guide, 7th Edition, FATF Recommendation 24 on Transparency and Beneficial Ownership of Legal Persons

CAMS · Q2

Question #2 A branch manager for a small community bank has a new customer who deposits four EUR 50,000 checks into one account. Shortly thereafter, the customer goes to another branch and asks to transfer all but EUR 1,500 to three accounts in different foreign jurisdictions.Which suspicious activity should be the focus of the suspicious transaction report?

A.
The customer opened the account with four large checks
B.
The customer goes to a different branch to make this transaction
C.
The customer transfers almost all of the funds out of the account
D.
The customer asks to transfer funds to accounts in three different foreign jurisdictions

Answer: D

The scenario involves a new local community bank customer who first deposits large check amounts, then rapidly moves nearly all deposited funds to accounts in three separate foreign jurisdictions. Per core CAMS anti-money laundering (AML) knowledge, the highest risk suspicious activity that forms the primary focus of the suspicious transaction report (STR) is the cross-border transfer to multiple foreign jurisdictions. This activity aligns directly with the layering stage of money laundering, where illicit actors move funds across borders to obscure the original source of proceeds and break the audit trail connecting funds to criminal activity. The other listed activities are not inherently suspicious on their own, as they can be explained by routine legitimate personal or business needs, while unexplained cross-border transfers to multiple unrelated jurisdictions for a new local customer carry far higher inherent money laundering risk. Option Analysis: A. Opening an account with four large checks is not inherently suspicious. Large check deposits can stem from legitimate sources such as inheritance proceeds, real estate sales, or legitimate business receipts, with no indication of illicit origin provided in the scenario. This is not the primary suspicious activity for the STR. B. Using a different branch to initiate a transfer is routine customer behavior, often driven by convenience, proximity to the customer's location, or availability of specific branch services. This activity has no inherent connection to money laundering and is not a relevant red flag in this scenario. C. Transferring nearly all funds out of an account shortly after deposit is not automatically suspicious. Legitimate use cases include moving funds for large purchases, investment contributions, or family support payments. Without additional context of illicit purpose, this activity is not the highest risk focus for the STR. D. Transferring funds to three different foreign jurisdictions for a new local community bank customer with no established legitimate rationale for cross-border activity is a high-priority money laundering red flag. This activity is consistent with the layering phase of money laundering, where illicit funds are moved across borders to disconnect them from their source and avoid detection, making this the correct focus of the suspicious transaction report. Key Concepts: 1. Layering Stage of Money Laundering: This is the second phase of the money laundering cycle, where illicit actors execute a series of complex, often cross-border transactions to create confusion and break the paper trail between illicit funds and their original criminal source. Multiple transfers to unrelated foreign jurisdictions are a core indicator of layering activity. 2. Risk-Based Approach to STR Filing: Per global AML standards, financial institutions must prioritize red flags based on inherent risk. Cross-border transactions to multiple jurisdictions carry far higher money laundering risk than routine domestic activities, making them the primary focus for STR reporting when no legitimate rationale is provided. 3. High-Risk New Customer Activity Red Flags: New customers with no established history of cross-border personal or business activity who initiate transfers to multiple foreign jurisdictions are categorized as high-risk per FATF and ACAMS guidance, requiring immediate enhanced due diligence and potential STR filing. References: FATF Guidance on Suspicious Transaction Reporting, ACAMS Certified Anti-Money Laundering Specialist (CAMS) Official Body of Knowledge

CAMS · Q3

Question #3 A government has instituted new anti-money laundering laws which require all financial institutions to obtain certain information from its customers.Which step should an institution located in this jurisdiction take to ensure compliance?

A.
Change procedures to require that the necessary information is obtained
B.
Change procedures and systems as necessary and provide employee training
C.
Send a notice to customers asking them to provide the necessary information
D.
Change systems to ensure the required information is automatically obtained from all customers

Answer: B

The scenario describes a new regulatory AML mandate requiring financial institutions to collect specific customer information. Per core CAMS AML compliance principles, implementing new regulatory obligations demands a holistic, cross-functional approach that addresses process, technology, and human elements to ensure consistent, sustainable adherence. The suggested answer B is correct because it covers all three critical components of a compliant implementation: updating procedures to formalize requirements for collection, verification, and retention of the mandated information, modifying systems as needed to support capture, storage, and retrieval of the new data points, and delivering targeted employee training to ensure staff understand the new requirement, follow updated procedures, and correctly use adjusted systems. This approach aligns with global regulatory expectations that institutions maintain comprehensive, operationalized compliance programs rather than partial, one-off changes. Option Analysis: A. Incorrect. Changing procedures alone is insufficient to ensure compliance. It does not address potential system gaps that may prevent the institution from capturing, storing, or reporting the required information, and it does not ensure employees understand how to follow the new procedures, leading to inconsistent application and compliance risk. This partial step fails to meet the holistic compliance requirements outlined in the CAMS core curriculum. B. Correct. This option covers all three foundational pillars of effective AML compliance program updates for new regulatory obligations: procedural updates to formalize required workflows for collecting and managing the mandated customer information, system adjustments to support data capture, retention, and oversight, and employee training to ensure staff can properly execute the new requirements. This approach aligns with FATF and global AML regulatory expectations that are central to the CAMS certification. C. Incorrect. Sending a customer notice is a reactive, incomplete step. It does not address internal processes, system needs, or staff preparedness to collect, verify, and retain the required information, nor does it account for ongoing collection from new customers entering the institution. This step would not satisfy regulatory requirements for a sustained, institutional compliance program. D. Incorrect. Modifying systems alone is insufficient. It does not address procedural needs for exception handling, verification of automatically collected data, or escalation workflows, and it does not ensure staff understand how to use updated systems or address gaps where automated data collection is not possible. Overreliance on systems without accompanying process and training updates creates significant compliance risk, per CAMS guidance. Key Concepts: 1. Holistic AML Compliance Program Implementation: Core CAMS curriculum emphasizes that new regulatory obligations require coordinated updates across processes, technology, and staff training to ensure full, consistent adherence, rather than isolated, single-faceted changes. 2. Customer Due Diligence (CDD) Operationalization: The requirement to collect specified customer information is a core CDD obligation, which demands formal documented procedures, supporting technology infrastructure, and trained frontline and compliance staff to execute effectively. 3. AML Training Requirements: CAMS guidance mandates that all relevant staff receive regular, targeted training on updated AML policies, procedures, and regulatory changes to ensure uniform compliance across the institution and reduce human error risk. References: FATF Recommendations for Anti-Money Laundering and Counter-Terrorist Financing, https://www.fatf-gafi.org/publications/fatfrecommendations/documents/fatf-recommendations.html ACAMS CAMS Examination Blueprint

CAMS · Q4

Question #4 An anti-money laundering audit identifies a significant weakness in how transaction monitoring alerts are cleared. Audit sampling identified potentially suspicious activity that was cleared as not suspicious. Management accepts the audit finding and develops a remediation plan.What is the role of the auditor during the correction phase?

A.
Directing the remediation of the deficiency in a timely manner
B.
Developing procedures to provide sufficient risk-based documentation for clearing alerts
C.
Providing training to the alert clearing department on the importance of effective alert clearing
D.
Validating the successful remediation of the issue once management indicates the issue is resolved

Answer: D

Per core CAMS certification principles, the AML audit function must maintain strict independence and objectivity, which prohibits auditors from performing operational or management responsibilities related to the controls they are tasked with evaluating. In the provided scenario, management retains full ownership of designing and executing the remediation plan for the identified transaction monitoring alert clearing deficiency. The auditor's role during the correction phase is limited to independent assurance activities, specifically verifying that the remediation steps implemented by management fully address the root cause of the identified weakness, and that the control is operating effectively once management confirms remediation is complete. This approach eliminates conflicts of interest, as the auditor does not participate in creating the processes they will later assess for ongoing compliance. Option Analysis: A. Incorrect. Directing remediation is an explicit management responsibility. If an auditor directs remediation activities, they assume an operational role that creates a self-review threat to their independence, which violates core AML audit standards covered in the CAMS curriculum. B. Incorrect. Developing procedures for alert clearing is an operational and compliance function owned by management and the compliance department. Auditors cannot design procedures they are tasked with auditing, as this impairs the independent objectivity required under CAMS guidelines. C. Incorrect. Providing training to the alert clearing department is a management and compliance responsibility. Delivering training to personnel whose work the auditor will later assess creates familiarity and self-review threats to auditor independence, which is not permitted per standard AML audit frameworks covered in CAMS. D. Correct. Validating the success of completed remediation activities is the core independent assurance role of the AML auditor per CAMS guidance. This activity maintains auditor objectivity, as the auditor only tests the effectiveness of the controls implemented by management, rather than participating in their design or execution, and confirms the original audit finding has been fully resolved. Key Concepts: 1. Auditor Independence: A core CAMS principle requiring AML auditors to remain free of operational or management responsibilities related to the AML program they audit, to avoid conflicts of interest that would compromise the objectivity of audit findings and assessments. 2. Three Lines of Defense Model: CAMS aligns with this widely accepted risk governance framework, where the first line (business units/operations) owns day-to-day AML controls, the second line (compliance) oversees control design and implementation, and the third line (audit) provides independent assurance of control effectiveness, including validation of remediation activities. 3. Remediation Ownership: Per CAMS guidance, senior management and the compliance function hold exclusive ownership of identifying root causes of AML control deficiencies and designing, implementing, and executing remediation plans, while audit only performs independent verification of remediation success. References: ACAMS CAMS Examination Content Outline, ACAMS White Paper: The Role of Internal Audit in AML/CFT Compliance

CAMS · Q5

Question #5 Which method to launder money through deposit-taking institutions is closely associated with international trade?

A.
Forming a shell company
B.
Using Black Market Peso Exchange
C.
Structuring cash deposits/withdrawals
D.
Investing in legitimate businesses with illicit funds

Answer: B

The question asks for a money laundering method that uses deposit-taking institutions and is closely associated with international trade. The Black Market Peso Exchange (BMPE) is a well-documented trade-based money laundering (TBML) typology explicitly structured to move illicit proceeds across borders through legitimate international trade transactions. BMPE works by taking illicit cash proceeds (for example, from drug sales in one jurisdiction) and using those funds to pay for legally traded goods imported into a second jurisdiction, where the resale of the goods generates seemingly legitimate revenue. Deposit-taking institutions are used throughout the process to hold and transfer funds tied to the trade transactions, so this method directly meets both the international trade and deposit institution requirements of the question. Option Analysis: A. Forming a shell company: Incorrect. Shell companies are generic legal entities used across a broad range of money laundering typologies, including fully domestic schemes with no connection to international trade. They have no inherent link to cross-border trade, so they do not satisfy the question's criteria. B. Using Black Market Peso Exchange: Correct. As a core TBML method, BMPE is explicitly tied to international trade transactions between jurisdictions, and relies on deposit-taking institutions to process payments for traded goods between parties in different countries. This directly aligns with all parameters of the question. C. Structuring cash deposits/withdrawals: Incorrect. Structuring, also called smurfing, involves breaking large cash amounts into smaller transactions to avoid regulatory reporting thresholds. This practice can be conducted entirely domestically with no required connection to international trade, so it is not the correct answer. D. Investing in legitimate businesses with illicit funds: Incorrect. This describes the general integration stage of money laundering, which can apply to fully domestic businesses with no cross-border trade activity. It is not specifically associated with international trade, so it is incorrect. Key Concepts: 1. Trade-Based Money Laundering (TBML): A core CAMS domain concept referring to the movement and legitimization of illicit funds through trade transactions, including typologies like BMPE, over/under-invoicing of goods, and phantom shipping. 2. Black Market Peso Exchange (BMPE): A specific TBML typology first identified as a method to launder Colombian drug cartel proceeds, which leverages cross-border goods trade to convert illicit foreign currency into legitimate local revenue without high-risk direct cross-border funds transfers that attract regulatory scrutiny. 3. Money Laundering Typologies: A key CAMS knowledge area covering common methods used to launder illicit funds, their associated red flags, and specific use cases, which is tested extensively across the certification exam. References: Trade-Based Money Laundering: A Framework for Identifying and Assessing Risk, Certified Anti-Money Laundering Specialist (CAMS) Official Certification Page

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