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ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q83-Q88):

NEW QUESTION # 83
Which key performance indicators (KPIs) should be considered in the context of ML/TF transaction monitoring? (Select Three.)

A. Number of days required to hire new staff
B. Number of alerts raised for review or reporting
C. Number of alerts by region
D. Number of transactions by top customers
E. Average time to review an alert

Answer: B,C,E

Explanation:
Key performance indicators (KPIs) are essential for evaluating the effectiveness and efficiency of transaction monitoring systems within an AML/CFT program. Regulators expect institutions to monitor how well their systems identify, prioritize, and resolve suspicious activity.
The number of alerts raised provides insight into system sensitivity and potential over- or under-alerting.
Tracking alerts by region helps institutions identify geographic risk concentrations and emerging threats. The average time to review an alert measures operational efficiency and whether investigations are conducted promptly, as required by regulatory expectations.
Hiring timelines and transaction volumes by top customers are operational or business metrics and do not directly assess transaction monitoring effectiveness.

NEW QUESTION # 84
The Wolfsberg Group's 2012 "Principles (or Private Banking" established that.

A. due diligence requirements tor private banking customers are necessary to prevent predicate offenses.
B. private banks need to better coordinate and align their global AML control environment strategies.
C. risk based approaches are insufficient to address the heightened risk presented through private banking
D. private banks agree that transparency of client beneficial ownership Is necessary and appropriate.

Answer: D

NEW QUESTION # 85
Why is it important to use multiple sanctions lists, such as United Nations (UN), Office of Foreign Assets Control ("OFAC"), and European Union ("EU") lists, in name screening systems?

A. To avoid onboarding customers previously exited due to true match
B. To be in line with the risk appetite statement
C. To avoid sanctions breach related to payments
D. To meet international regulatory requirements and identify risks across jurisdictions

Answer: D

Explanation:
Using multiple sanctions lists ensures that financial institutions meet international regulatory obligations and can identify sanctions-related risks across different jurisdictions. This comprehensive approach strengthens compliance and reduces the likelihood of exposure to sanctioned individuals or entities.

NEW QUESTION # 86
Trust and company service providers (TCSPs) should address money laundering risk by: (Select Three.)

A. Requiring the client to complete and submit an AML risk self-assessment to the jurisdiction's Financial Intelligence Unit (FIU)
B. Establishing dual controls and quality assurance practices when processing transactions for the client
C. Conducting an onsite evaluation of the client to assess internal controls
D. Considering what additional safeguards may be required when client instructions are given through another TCSP located in another jurisdiction
E. Establishing procedures to document the basis on which the TCSP will act as a registered officer for the client and retaining records of that involvement
F. Gathering and recording information from clients to understand the purpose of the legal entity, as well as the identity of managers and ultimate beneficial owners

Answer: D,E,F

Explanation:
Trust and company service providers (TCSPs) are classified as higher-risk entities under FATF guidance due to their role in forming and managing legal structures. As a result, TCSPs must implement robust AML controls to mitigate misuse for money laundering.
A key requirement is gathering and recording detailed client information, including the purpose of the legal entity and the identity of managers and ultimate beneficial owners (UBOs). This supports effective customer due diligence and transparency.
TCSPs must also apply additional safeguards when relying on instructions from another TCSP, particularly one located in a different jurisdiction. Reliance on intermediaries increases risk and requires enhanced scrutiny.
Additionally, TCSPs should document the basis on which they act as a registered officer and retain records of their involvement. This ensures accountability and traceability in line with record-keeping obligations.
Requiring clients to submit AML self-assessments to an FIU and conducting onsite evaluations are not standard or required practices under AML frameworks.

NEW QUESTION # 87
Which of the following accurately describes the economic, reputational and social consequences of money laundering (ML) and the risks and consequences of violating AFC regulations? (Choose two.)

A. Jurisdictions perceived as having insufficient ML measures might be identified as uncooperative or high-risk, potentially facing restricted access to international markets, though economic sanctions by other countries are an unlikely outcome.
B. ML undermines the integrity and stability of financial systems and makes them vulnerable to illegal activity. This can erode investor confidence and hinder economic growth.
C. When laundered funds flow into legitimate economies, they can be used for illegal purposes, such as funding terrorist activities or organized crime. This distorts resource allocation and undermines development.
D. When a financial institution (FI) is found to be promoting ML or violating AFC regulations, this can lead to a loss of confidence in the institution and a loss of customers. Interestingly, this scenario might sidestep any legal consequences for the Fl.

Answer: B,C

Explanation:
Money laundering corrodes financial-system integrity, eroding investor confidence and impeding sustainable economic growth.
Illicit funds entering legitimate economies can finance terrorism and organized crime, skew resource allocation, and stifle development.

NEW QUESTION # 88
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CAMS7 Latest Cram Materials | Latest CAMS7 Guide Files

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Latest CAMS7 Guide Files & New CAMS7 Test Experience

ACAMS Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) Sample Questions (Q83-Q88):

Free PDF Quiz 2026 CAMS7: Certified Anti-Money Laundering Specialist (CAMS7 the 7th edition) – Professional Latest Cram Materials

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