ACAMS Advanced CAMS Audit Advanced CAMS-Audit Certification Exam Online Training
ACAMS Advanced CAMS Audit Online Training
The questions for Advanced CAMS Audit were last updated at Feb 23,2025.
- Exam Code: Advanced CAMS Audit
- Exam Name: Advanced CAMS-Audit Certification Exam
- Certification Provider: ACAMS
- Latest update: Feb 23,2025
The auditor identifies that the bank launched trade finance services this year. The target clients are multinational companies who actively support China’s belt and road initiatives.
Which scoring themes would be affected? (Select Two.)
- A . 11.2
- B . 11.3
- C . 12.1
- D . 12.2
- E . 13.1
The auditor identifies that the bank has launched trade finance services this year. When rating the various themes of the risk mitigants, which are expected to be impacted by the launch of these services? (Select Three.)
- A . M1.1
- B . M1.2
- C . M2.1
- D . M3.2
- E . M4.2
- F . M5.2
Following completion of testing and tuning of the parameters and thresholds of the transaction monitoring model which final step should the team recommend as necessary to verify effective model functioning?
- A . Model validation
- B . Audit continuous monitoring
- C . Data validation
- D . Regulatory approvals
What model test verifies that alerts indicative of potentially suspicious activity are not missed due to threshold settings?
- A . Black-box configuration
- B . Above-the-line
- C . Gap analysis
- D . Below-the-line
Which recommendation should the audit team provide to address transaction monitoring (TM) issues?
- A . Switch off those detection scenarios that are producing too many false positives.
- B . Apply the same thresholds across all client types to ensure alignment of risk coverage.
- C . Perform a coverage assessment of the current suite of TM detection scenarios against the bank’s money laundering and terrorist financing risks
- D . Provide training for first-line staff on how to review and disposition TM alerts.
Which best explains why the auditor rates the audit finding on sanction screening severity high?
- A . The efficiency of the sanction screening tool is not properly tuned due to the wrong sanctions lists.
- B . The finding is on a different audit topic than the KYC related findings.
- C . The tool might miss potential sanction violations given the long intervals before the sanctions lists are updated.
- D . The organization might have reported a sanction breach that is not a current sanction violation.
Which KYC-related finding poses the most risk to the organization?
- A . KYC requirements being considered a low priority not designed into business processes and implemented after product launch
- B . Sanctions fists that are updated on a periodic basis following an annual risk assessment
- C . KYC processes not being integrated into the business and associated application systems
- D . Backlogs and delays in maintaining client files in accordance with the organization’s policy
Which is the most significant risk associated with KYC requirements being considered a low priority not designed into processes and subsequently implemented after the products are already launched?
- A . Product launches may not be adequately prepared.
- B . Client experience improves as accounts can be opened more quickly.
- C . Product launches will motivate frontline to get more customers.
- D . Frontline will not complete adequate CDD.
Which should the external auditor recommend to ensure that the institution did not facilitate transactions involving a sanctioned person?
- A . Re-screen all transactions over the period of time when the updated sanction lists were not uploaded against the current sanctions lists.
- B . Perform a security risk and access assessment on the sanction screening tool to ensure more timely sanctions lists are uploaded.
- C . Re-screen all transactions based on the sanctions lists that were active at that time but not uploaded.
- D . Periodically monitor the sanctions lists uploaded by the screening tool to ensure the most up-to-date lists are in the system.
Which conclusion should the auditor make regarding the staff attendance of the periodic AML training program organized by the bank?
- A . Staff attendance is complete because the training is mandatory for staff in the business, operations compliance and senior management whose duties involve knowledge of AML controls and processes.
- B . Staff attendance is complete because all staff in the institution are required to attend the AML training as part of the staff onboarding process.
- C . Staff attendance is incomplete because the board of directors is not part of the staff required to attend the periodic trainings, and there is no other specially designed AML training for the board.
- D . Staff attendance is incomplete because the compliance officer or the delegates are not part of the staff facilitating the 3-hour periodic AML training.
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