Just cleared the CAMS certification last Tuesday with a 79%. I've been in compliance for 6 years so I had some background, but I still underestimated the depth of the exam the first time I looked at the practice materials. The official ACAMS prep course helped a lot, even if it's pricey at around $800.
The exam covers four main domains and I'd say risk assessment and AML program design are weighted most heavily — at least that's what it felt like sitting through it. I spent roughly 8 weeks of prep, around 1.5 hours per day on weekdays and 3-hour sessions on Saturdays.
A lot of the questions are scenario-based, which is different from pure knowledge recall. They'll describe a transaction pattern and ask you to identify the red flags or determine the appropriate response. Real compliance experience helps but you still need the FATF recommendations and FinCEN rules cold.
My biggest regret is not doing practice exams earlier. I was reading materials for the first 4 weeks and barely touching questions. Get to questions by week 2 at the latest — flip that ratio.
How did you find the ACAMS study guide compared to third-party prep materials? I've been using a mix and wondering if I'm overcomplicating it by pulling from too many sources.
The FATF recommendations show up constantly. I'd recommend being able to recall all 40 at a high level from memory. Failed at 68% my first attempt and that was my main gap — passed on the retake after two extra weeks focused there.
Been in AML for 4 years and still took me two serious months of prep. Don't let compliance background make you overconfident. The exam tests a very specific framework and it doesn't always match how your actual firm operates.
Congratulations on passing. 79% is solid given how dense the material is. I'm about 4 weeks out and your point about scenario questions is making me rethink my approach — I've been mostly reading too.