CAMS Study Guide 2026
Everything you need to pass the CAMS exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CAMS Exam Format at a Glance
📚 CAMS Topics to Study (31)
✍️ Sample CAMS Questions & Answers
1. A customer's account shows a pattern of receiving large wire transfers followed immediately by conversion to cryptocurrency on an exchange. This pattern is MOST consistent with:
Converting wire transfer proceeds to cryptocurrency is a layering technique designed to obscure the trail of funds and complicate tracing.
2. What is the significance of 'unhosted wallets' (self-custodied wallets) in the FATF virtual asset framework?
FATF guidance recommends that VASPs apply enhanced due diligence when their customers transact with unhosted wallets, as these lack an obligated intermediary.
3. What is a key difference between AML compliance and sanctions compliance at a financial institution?
AML focuses on identifying and reporting suspicious activity to law enforcement; sanctions compliance requires real-time screening and immediate action (blocking/rejecting) when prohibited parties are identified, leaving no discretion.
4. What is the Financial Action Task Force (FATF) and what is its primary role?
FATF is an intergovernmental policy-making body established in 1989 that develops and promotes international standards (the FATF Recommendations) for fighting money laundering, terrorist financing, and proliferation financing.
5. Which of the following best describes the use of 'nominees' in money laundering schemes?
Using nominees — often paid individuals willing to appear as owners or directors — creates a layer of anonymity between the criminal and their assets, frustrating beneficial ownership identification.
6. How has FATF addressed the AML risks associated with Designated Non-Financial Businesses and Professions (DNFBPs)?
FATF Recommendations 22-23 extend key AML requirements (CDD, record-keeping, suspicious transaction reporting) to DNFBPs because criminals exploit these sectors to launder money outside the traditional financial system.