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 Apr 08,2025.
- Exam Code: Advanced CAMS Audit
- Exam Name: Advanced CAMS-Audit Certification Exam
- Certification Provider: ACAMS
- Latest update: Apr 08,2025
What conclusion should the auditor make regarding AML training for outsourced AML providers?
- A . The approach outlined by the Dank is deficient, as the service providers are not pan of the Danks AML training during its staff onboarding.
- B . The approach outlined by the Dank is appropriate as the Dank can rely on a professional service provider to deliver the AML training program for the Dank s staff.
- C . The approach outlined by the Dank is deficient, as it does not provide controls for the Dank to verify training delivered by outsourced providers to the bank’s staff is appropriate.
- D . The approach outlined by the bank Is appropriate as it considers practical issues such as time zone differences and availability of both classroom and online sessions.
The auditor finds that the customer risk assessment (CRA) is completed at initial onboarding and is repealed for each customer every other year. The auditor’s observations should Include that the CRA should:
- A . be updated more often given the risk of the entity.
- B . include an assessment of jurisdiction where the customer currently resides as this may have changed.
- C . allow for sales oy third patties other than advisors since most of the customers are local residents.
- D . include a qualitative overlay that 95% of the products offered are subject to regulatory exemptions.
The company has automated the completion of the customer risk assessment (CRA) into its main customer relationship management (CRM) system The CRM has needs recording the overall risk level assessed (Standard. Enhanced), the ID number of the staff member who completed the assessment, and me date of the last assessment
Which additional fields should the auditor recommend to document the CRA process? (Select Three.)
- A . Age (Years)
- B . Risk factors (Y/N. if Y please specify)
- C . Type of customer (Trust. Company Individual)
- D . Annual premium (S)
- E . Residence (Country)
- F . Photo ID taken (Passport Driver’s License. Other)
Which findings indicate issues that would cause a lack of understanding of the risks associated with the business the financial institution conducts? (Select Three.)
- A . Finding 1
- B . Finding 3
- C . Finding 4
- D . Finding 5
- E . Finding 6
- F . Finding 8
Which finding indicates issues that could result in clients being subject to incorrect scenarios and thresholds?
- A . Firming 2
- B . Finding 4
- C . Finding 5
- D . Finding 7
Which finding must be first remediated in order to understand is risks the organization is exposed to?
- A . Finding 1
- B . Finding 3
- C . Finding 5
- D . Finding 8
The auditor determines that the population for transaction monitoring testing can be stratified into five distinct categories.
To complete testing which sampling method should the auditor use to identify the sample size?
- A . Judgmental
- B . Proportional
- C . Statistical
- D . Risk-based
The auditor reviews the AML compliance program and after a walk-through, determines that AML-related reports to the board could be useful to test the governance and management oversight. The AML reports vary in content and complexity.
Which sampling method should the auditor select?
- A . Risk-based
- B . Judgmental
- C . Statistical
- D . Proportional
What type of audit approach should the auditor use when testing KYC files as part of an AML examination?
- A . Horizontal
- B . Full scope
- C . Vertical
- D . Risk-based
Suspicious activity report testing in the last three audits did not identify any metrics to indicate that volume vanes dramatically each month.
Which step should the auditor take next?
- A . Assign to continuous monitoring.
- B . Include the lack of metrics as a deficiency in the reporting.
- C . Escalate the finding regarding the lack of metrics to the board of directors.
- D . Review within the IT audit.
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