How to Pass Certified Anti-Money Laundering Specialist Certification Exam Dumps Practice Test

Certified Anti-Money Laundering Specialist Certification Exam Dumps Practice Test

Anti-money laundering refers to a set of laws, regulations, and procedures that come up with a view for reducing money laundering. Though anti-money-laundering (AML) law covers a limited range of transactions and criminal behaviors, their implications are far-reaching. Talking about AML Specialists, they are well familiar with all the national and global laws that govern their financial institutions. Moreover, these professionals train employees on how to recognize and report fraud. These professionals form compliance policies and are the communication point person with law enforcement during internal investigations. Further, they monitor internal and external individuals and businesses for doubtful financial activities.

FREE Practice Exam Question and Answers 

• Certified Anti-Money Laundering Specialist (the 6th edition)
• Certified Anti-Money Laundering Specialist (the 6th edition)

CAMS Certification Importance

The CAMS certification is the only certification for anti-money laundering specialists. And, passing the CAMS exam will enhance candidates’ knowledge and expand their expertise needed to protect organizations and prevent crimes. With this certification, financial auditors prove they are committed to the development of their professional skills. Moreover, the CAMS certification keeps anti-money laundering specialists updated with new industry trends. Talking about career advancement, CAMS certification means better job opportunities and higher wages.

Eligibility Requirements

The requirements candidates should have to take the CAM exam includes,

• Firstly, the aspirants need to earn at least 40 credits of college coursework. Luckily, the ACAMS counts professional experience by awarding 10 credits per year for up to three total years, or 30 credits. However, this employment experience can be in any sector or industry.
• Secondly, the financial professional certifications can count for up to 10 credits per each accreditation that includes certifications like CPA, CPE or CPP.
• Lastly, the applications are awarded 10 credits for an associate’s degree and 20 credits for a bachelor’s degree and 30 credits for a master’s or doctorate degree.

Preparing for CAMS Examination 

Exam preparation is the part where you need to prove yourself best. That is to say, you have to prepare hard to crack the exam. And, this requires a focused mindset with a goal to achieve. However, for the Certified Anti-Money Laundering Specialist (CAMS) exam preparation, there are useful resources available to take the exam in confidence.

FAQ’s

What is the Certified Anti-Money Laundering Specialist (CAMS) certification?

The CAMS exam is administered by the Association of Certified Anti-Money Laundering Specialists (ACAMS). The Certified Anti-Money Laundering Specialist (CAMS) credential is the gold model in AML certifications and acknowledged internationally by financial institutions, governments and regulators as a solemn commitment to protecting the financial system against money laundering.

Who is a Certified Anti-Money Laundering Specialist?

A Certified Anti-Money Laundering Specialist is a professional who is skilled at tracking the cash that originates in fraud or other crime but has been subjected to complex financial manoeuvres in order to obscure its origins. From day to day, the work of a CAMS professional is focused on preventing such activities from slipping through the global banking system.

Who can take the Certified Anti-Money Laundering Specialist (CAMS) exam?

Anybody who aspires to work in the core compliance field (Banking, Exchange houses, etc.) can prepare for CAMS certification. This certification is also for those who wish to shift their career into compliance.

Is ACAMS certification worth it?

In 2001, ACAMS set out with the mission to set an international standard for testing the knowledge of those entrusted with the detection and prevention of money laundering. Since its inception, (CAMS) has become the gold standard in AML certifications and is recognized by private institutions, governments and law enforcement.

What is the learning path for the Certified Anti-Money Laundering Specialist (CAMS) exam?

Built upon the foundation and expertise of CAMS-certified professionals, the Advanced CAMS certifications (CAMS-Audit, CAMS-FCI and CAMS-Risk Management) represent a high-level training that equips professionals with essential AML knowledge and the ability to meet regulatory expectations, in the audit, financial crimes investigations and Risk Management fields.

How many questions are there in the Certified Anti-Money Laundering Specialist (CAMS) exam?

There are 120 questions in the (CAMS) exam.

What is the format for the Certified Anti-Money Laundering Specialist (CAMS) exam?

The (CAMS) is available in the form of multiple-choice and multiple-select questions.

How much time will be given to the candidate to complete the Certified Anti-Money Laundering Specialist (CAMS) exam?

The candidate will be given three and a half hour to complete the (CAMS) exam.

What is the passing marks for the Certified Anti-Money Laundering Specialist (CAMS) exam?

The candidate has to obtain 75% or above in order to pass the CAMS exam.

What are the eligibility requirements for the Certified Anti-Money Laundering Specialist (CAMS) exam?

The candidate who wants to give the (CAMS) examination must have:

• An active ACAMS membership
• They must have 40 credits in education (10 for Associates, 20 for Bachelors, 30 for Masters, 40 for JD or PhD), work experience (10 credits for each year of experience) and training (1 credit for each hour of financial-crime related training).

What are the learning objectives for the Certified Anti-Money Laundering Specialist (CAMS) exam?

The topics covered in the (CAMS) exam are:

• Risks and methods of money laundering and terrorism financing (26%)
• Compliance standards for anti-money laundering and combating the financing of terrorism (25%)
• Anti-money laundering, CFT and sanctions compliance programs (28%)
• Conducting or supporting anti-money laundering investigations (21%)

How can I prepare for the (CAMS) exam?

The candidate has to follow some preparatory step which is mentioned in our tutorial i.e. visiting the official, reading and understanding related books and guides, attending seminars and webinars, flashcards, learning objectives, trying their hands-on practice test etc.

Final Tips

Getting certified as an Anti Money Laundering Specialist will not only prove that you have the required skills but, it will take your career to the next level. Moreover, you will get to explore many new opportunities as you get to advance in this. And, having CAMS certification will show that you have advanced professional skills during the time of hiring. So, you need to work hard for this exam and get it clear. Lastly, just be confident even during the preparation and it will all be worth it.

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