Study and Prepare with ACAMS CAMS7 study material, That's Easy to pass With PracticeMaterial!
Updated: Jun 07, 2026
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1. Financial crime risk related to the use of "hawalas" can stem from: (Select Two.)
A) heavy usage by senior political figures.
B) informal networks used for cross-border transactions outside of the formal banking system.
C) remote verification of identity by third-party program managers.
D) heightened risks of returned transactions.
E) difficulty in tracking the originator, recipient, and source of transactions.
2. Which of the following describes a formal method of information sharing and cooperation between Financial Intelligence Units (FIUs) when conducting cross-border money laundering investigations?
A) Memoranda of Understanding (MOUs) between FIUs establishing structured information sharing
B) FATF, MONEYVAL, and other regional bodies acting as a contact point for FIUs
C) The Wolfsberg Group serving as a communication platform for FIUs
D) Mutual Legal Assistance Treaties (MLATs) allowing FIUs to request arrests and evidence
3. Which techniques are most commonly used in a rules-based approach to transaction monitoring for detecting suspicious activities? (Choose two.)
A) Setting transaction thresholds for automated alerts
B) Using advanced machine learning models to detect outliers
C) Using predefined rules to flag specific transaction patterns
D) Statistical tuning of monitoring scenarios to improve accuracy
E) Randomly flagging transactions for further investigation
4. What is the PRIMARY AML concern regarding prepaid cards?
A) They eliminate cyber risks completely
B) They reduce transaction speed
C) They always generate interest income
D) They may permit anonymous movement of funds
5. Which types of external data sources are expected to be used for screening customers as part of customer due diligence (CDD)? (Select Three.)
A) Social media profiles to assess lifestyle and spending habits
B) Customer feedback and online review platforms
C) Beneficial ownership registers and adverse media sources
D) Sanctions lists, including those issued by the Office of Foreign Assets Control (OFAC)
E) Registers of stolen or forged documents (where available)
Solutions:
| Question # 1 Answer: B,E | Question # 2 Answer: A | Question # 3 Answer: A,C | Question # 4 Answer: D | Question # 5 Answer: C,D,E |
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