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How much CAMS Exam Cost
There are two options. Candidate can choose either with a virtual classroom package or without a virtual classroom package.
Price and benefits of with virtual classroom package
- This package consists of a CAMS study guide, Online Preparation Course, CAMS Virtual classroom and CAMS Examination
- The price of this package is $1,880 for private sectors and $1,540 for public sectors
Price and benefits of without virtual classroom package:
- This package consists of a CAMS study guide, Online Preparation Course and CAMS Examination
- The price of this package is $1,459 for private sectors and $1,145 for public sectors
Reference: https://www.acams.org/sites/default/files/2024-02/EN-CAMS_011924.pdf
Topics Covered
All in all, the CAMS exam is based on four domains. The first of which is Risks and Methods of Money Laundering & Terrorism Financing. This topic accounts for 26% of the exam items and consists of several subdomains. Thus, the following is a brief portion of the list of those subdomains: recognize ways of money laundering used by banks and similar institutions, by insurance companies, by broker-dealers, capital markets, or investment advisors. What's more, you need to also be aware of recognizing methods of money laundering utilized by organizations such as casinos or other game-related industries, by companies dealing with precious metals or other high-value goods, real estate, etc. In addition, here, you need to know more about the red flags, commercial transactions, human trafficking, and the like.
The second objective is Compliance Standards for Anti-money Laundering (AML) and Combating the Financing of Terrorism (CFT) which stands for 25% of all test content. In particular, this domain consists of 11 areas. So, to master this topic in full, you need to learn to recognize the main aspects of the EU Directives on money laundering, the USA PATRIOT Act, and the OFAC sanctions. On top of that, you need to touch on how to identify the FATF 40 Recommendations and how to deal with the aspects of the BASEL Committee Customer Due Diligence Principles including the coverage of Egmont Group objectives.
The third section the real exam tests individuals on are AML, CFT, and Sanctions Compliance Programs that covers 28% of the exam and consists of 31 subdomains. In all, under this category, you have to recognize the main items of an anti-money laundering training program and the part that senior management and director boards play in how an organization deals with anti-money laundering oversight. Then, you need to also be proficient in handling AML tools, governance, audits, and situation.
The last part covered is Conducting and Supporting the Investigation Process detailing 21% of the exam questions. All in all, such a portion focuses on recognizing suitable methods of conducting interviews for potential parties involved in an anti-money laundering event, dealing with public source information or other sources of information that may be available for use in an investigation given a specific scenario, accepting ways in which law enforcement organizations may request data from an institution with regards to money laundering, etc.
Who should take the CAMS exam
The CAMS certification is an internationally-recognized credential that identifies persons who earn it as possessing specialized AML knowledge. AML professionals who earn the CAMS designation position themselves to be leaders in the business and to expertise professional growth. If a candidate wants significant improvement in career growth needs enhanced knowledge, skills, and talents. The CAMS certification provides proof of this advanced knowledge and skill. If a person fulfills the following eligibility requirements of the CAMS exam then he should take this exam.
- Submit supporting documents.
- Provide three professional references.
- Document a minimum of 40 qualifying credits based on education, other professional certification and professional expertise in the field.
CAMS Exam topics
Candidates must know the exam topics before they start of preparation. Because it will really help them in hitting the core. Our CAMS exam dumps will include the following topics:
- How to manage and support a money laundering investigation
- Conducting or supporting the investigation process
- Maintenance of an effective AML/CFT compliance program
- The Financial Action Task Force (FATF) Recommendations, the Basel Committee's Report on client Due Diligence and also the Wolfsberg cluster Principles
- SAR and STR filing
- Comply standards for anti-money laundering (AML) and combating the financing of terrorism (CFT)
- Important elements of an Anti-Money Laundering (AML) program
- The assistance of institutional investigations
- AML/CFT compliance program designs in several business settings
- Recognition of AML compliance risks
- Money laundering risks and strategies, like Black Market Peso Exchange and import and export price manipulation
- Money laundering and terrorist financing methods
ACAMS CAMS Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Transaction Monitoring and Reporting | - Case management and investigation processes - Suspicious Activity Reports (SAR) / STR filing - Suspicious activity detection and monitoring systems |
| Financial Crime Typologies and Risk | - Sanctions and embargo compliance - Risk assessment methodologies - Common money laundering typologies across industries |
| Customer Due Diligence (CDD) and KYC | - Customer identification and verification - Beneficial ownership and PEP screening - Enhanced due diligence for high-risk customers |
| AML Compliance Framework | - Regulatory obligations and enforcement expectations - Internal controls and governance - AML compliance program structure |
| AML and CTF Fundamentals | - International AML/CTF standards and FATF recommendations - Stages and typologies of money laundering - Money laundering and terrorist financing concepts |
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