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Free ACAMS CAMS Practice Exam with Questions & Answers | Set: 9

Questions 81

The chief compliance officer (CCO) at a bank approved offering trade finance services to a company which is established within a country with a weak democratic system routinely reviews news on upcoming targeted economic sanction regulations in the EU, a major import partner for the country's production of crude oil.

Which of the following pieces of news would be of greatest concern?

Options:
A.

The European Commission and the High Representative issue a joint proposal for an import ban on refined oil products.

B.

The European Commission and the High Representative issue a joint proposal for an import ban on oil extraction equipment

C.

The Council of the European Union adopts a new export control regime for electronic equipment

D.

The Council of the European Union adopts a new import restriction regime for goods coming from countries that do not respect human rights

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Questions 82

A financial institution's transaction monitoring system flags an unusually high volume of international wire transfers originating from a small business account. The transfers are being sent to multiple jurisdictions known for limited regulatory oversight. Additionally, an employee reports suspicious behavior from the account holder during an in-person visit, where they requested a large cash withdrawal without providing a clear business justification. As part of the investigation, the compliance team must assess whether this activity is suspicious and determine the appropriate next steps.

Which of the following steps should be taken first in the investigation process to properly gather information and assess whether the transactions are suspicious?

Options:
A.

Review the transaction history of the account to identify patterns, including the frequency, destination, and purpose of the wire transfers

B.

Notify senior management and suggest account closure due to potential risks

C.

Immediately file a suspicious activity report (SAR) based on the employee's report of suspicious behavior

D.

Contact the customer directly to ask for clarification on the reason for the large cash withdrawal

Questions 83

A compliance officer at a large bank has been tasked with investigating a series of unusual transactions involving a long-time customer. The customer has made several large cash deposits into multiple accounts within a short period, raising red flags. After gathering and analyzing transaction data, reviewing customer records, and cross-referencing external sources, the compliance officer determines that there is a reasonable suspicion of money laundering. As part of documenting this investigation, the compliance officer must decide how and when to escalate the matter internally and whether to file a suspicious activity report (SAR).

What is the next critical step in this process?

Options:
A.

Document the customer's transaction history and keep the investigation confidential until further suspicious activity is detected.

B.

Immediately escalate the case to senior management, recommending the closure of the customer's accounts due to potential reputational risk.

C.

Report the investigation to external auditors and await further guidance before taking any action.

D.

Draft a SAR that includes a detailed chronology of the transactions, customer background and the rationale for suspicion, and submit it to the relevant financial intelligence unit (FIU) within the regulatory timelines.

Questions 84

What is the relationship between the EU Anti-money Laundering Directives (AMLD) and local anti-money laundering (AML) regulations in European Union (EU) member states, in terms of their relevance for, applicability to, and impact on EU banks? (Select Two.)

Options:
A.

The EU AMLD and local AML regulations are separate and unrelated legal frameworks.

B.

The EU AMLD and local AML regulations must have identical requirements.

C.

Local AML regulations may impose additional or more stringent requirements than the EU AMLD.

D.

The EU AMLD take precedence over local AML regulations.

E.

Local AML laws and regulations override the requirements of the EU AMLD.

F.

The EU AMLD provide a framework that member countries must implement through local AML regulations.

Questions 85

Which of the following entities could potentially pose a higher money laundering risk and require additional review prior to onboarding? (Select Two.)

Options:
A.

A large multinational corporation with extensive, documented wire transfer activity

B.

A local convenience store that replenishes the onsite automated teller machine (ATM) with cash from its till

C.

A local used car sale lot that allows individuals to pay their monthly bill in cash

D.

A virtual asset service provider (VASP), facilitating peer-to-peer cryptocurrency transactions

Questions 86

A large financial institution (FI) is considering expanding business to an area of the world with weak AML laws. The risk-based assessment indicates that the location will increase the FI's risk appetite beyond the stated acceptable amount.

Which risk factors should be used to identify the priority of the FI?

Options:
A.

Cash-intensive businesses risks

B.

Unknown third-party risks

C.

Geographic risks

D.

Anonymous transactions risks

Questions 87

Which situation involving a vendor presents increased AML and/or sanctions risk to an organization?

Options:
A.

The vendor provides services to end users located in an area subject to economic sanctions

B.

The vendor's sales representative was a refugee from a sanctioned jurisdiction as a child

C.

The vendor is organized as a privately held company

D.

The vendor has no individuals that own or control more than 10% of the company

Questions 88

An employee at a financial institution (FI) suspects that one of their co-workers is involved in a financial investment scam syndicate.

Which step should be taken next by the employee who has the suspicion?

Options:
A.

Conduct an open-source intelligence investigation using artificial intelligence tools to gain more information on the activities of the suspected employee

B.

Use the FI's whistleblowing channel to report the suspected employee

C.

Question their co-worker to determine if their suspicions are correct before reporting to the FI's Human Resources department

D.

Warn colleagues and customers of the FI that the employee's suspicious financial investment proposals could be a scam

E.

Report the suspected employee to the line manager of the FI to take the required action

Questions 89

Which activities would be considered money laundering red flags when reviewing the business operations of a money services business (MSB)? (Select Two.)

Options:
A.

A customer being hesitant to provide beneficiary name or address information when sending international wire transfers

B.

Cash-intensive businesses, such as convenience stores or restaurants, making large cash deposits

C.

A customer exchanging foreign currency from a higher-risk jurisdiction for domestic currency under the reporting threshold

D.

A customer using multiple accounts under different names to conduct transactions

E.

A customer completing frequent small-dollar international money transfers to their native country

Questions 90

A national risk assessment (NRA) can impact the risk-based approach (RBA) within an organization's anti-financial crime (AFC) compliance program by: (Choose two.)

Options:
A.

helping to identify high-risk sectors that require enhanced due diligence (EDO),

B.

eliminating the need for sectoral risk assessments within the organization

C.

guiding the allocation of resources for mitigating financial crime risks

D.

requiring all organizations to apply standardized measures

E.

automatically reducing the organization's responsibility for conducting its own risk assessment

Exam Code: CAMS
Certification Provider: ACAMS
Exam Name: Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition)
Last Update: Oct 30, 2025
Questions: 313

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