PASS GUARANTEED 2025 ACAMS ADVANCED-CAMS-AUDIT: ADVANCED CAMS-AUDIT CERTIFICATION EXAM AUTHORITATIVE NEW EXAM FEE

Pass Guaranteed 2025 ACAMS Advanced-CAMS-Audit: Advanced CAMS-Audit Certification Exam Authoritative New Exam Fee

Pass Guaranteed 2025 ACAMS Advanced-CAMS-Audit: Advanced CAMS-Audit Certification Exam Authoritative New Exam Fee

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ACAMS Advanced-CAMS-Audit Exam Syllabus Topics:

TopicDetails
Topic 1
  • Fieldwork and Evaluation: This section of the exam measures the skills of target professionals to demonstrate audit procedures during fieldwork. It involves collecting evidence, testing controls, and evaluating findings to ensure accuracy and reliability.
Topic 2
  • Corporate Governance and the Audit Function: This section of the exam measures the skills of auditing professionals and covers the principles and frameworks that guide effective governance in organizations. It emphasizes understanding the roles and responsibilities of the board of directors, management, and auditors. A key skill assessed is the ability to evaluate governance structures and their impact on organizational performance.
Topic 3
  • Planning and Scoping: This section of the exam measures the skills of audit managers and covers the processes involved in planning an audit engagement. It includes defining the scope, objectives, and resources required for an effective audit. A critical skill evaluated here is the ability to identify risks and develop a comprehensive audit plan that addresses those risks while ensuring compliance with relevant standards.
Topic 4
  • Reporting, Recommendations, and Follow-Up: This section of the exam measures the skills of audit managers and covers the communication of audit findings to stakeholders. It includes developing clear recommendations for improvement based on evaluation results and ensuring follow-up on those recommendations.

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ACAMS Advanced CAMS-Audit Certification Exam Sample Questions (Q46-Q51):

NEW QUESTION # 46
Which finding must be first remediated in order to understand is risks the organization is exposed to?

  • A. Finding 5
  • B. Finding 1
  • C. Finding 3
  • D. Finding 8

Answer: B

Explanation:
Finding 1
* This finding likely pertains to foundational gaps in the organization's risk assessment framework or the absence of a comprehensive understanding of inherent risks. Without addressing this, the organization cannot adequately identify, assess, or mitigate risks effectively.
* According to CAMS-Audit standards, a thorough risk assessment is the cornerstone of an effective AML/CFT program. It helps to prioritize resources and design appropriate controls based on the identified risk levels.
Critical Role in Understanding Risks
* Remediating foundational issues ensures that the organization has a clear understanding of its risk exposure across all products, services, and jurisdictions. This step is essential before addressing downstream issues such as customer due diligence (CDD) gaps or monitoring inefficiencies.
Alignment with Regulatory Requirements
* FATF guidelines and CAMS-Audit practices emphasize that risk assessment should precede other remediation efforts. Without this, the organization may address symptoms rather than root causes of compliance and operational risks.


NEW QUESTION # 47
in addition to this investigation report, what Information should the auditor expect to find in the investigative file? (Select Two.)

  • A. Independent review by the compliance officer's line manager.
  • B. Policies and procedures relating to AML investigations and suspicious activity report filing.
  • C. Adverse news search results against the customers and its controlling persons.
  • D. Historical transaction data of the customer s account.
  • E. Board approval for the suspicious activity report filing by the compliance department.

Answer: C,D

Explanation:
Adverse news provides context on potential risks associated with the customer, while historical transaction data is critical for understanding patterns that may indicate suspicious activity.


NEW QUESTION # 48
The scoping and planning process of an AML audit of a bank is best guided by review of which document?

  • A. Information technology security risk assessment of the bank's COD risk rating solution
  • B. Report of independent audit conducted the previous year
  • C. A document prepared to identify the inherent risk associated with a bank's products and services
  • D. Independent model validation and testing report of the bank's transaction surveillance systems

Answer: C

Explanation:
* Identifying inherent risks linked to the bank's products and services is critical to tailor the audit scope and address high-risk areas comprehensively.


NEW QUESTION # 49
A financial institution is auditing its correspondent banking relationships and their respective sanctions compliance programs. Which condition will merit a higher sample size assuming the correspondent banks have a moderate level of risk mitigation?

  • A. A stable customer base in an international environment
  • B. A customer base changing due to a merger in the domestic market
  • C. A well-known customer base m a localized environment
  • D. A fluctuating customer base in an international environment

Answer: D

Explanation:
Higher Sample Size Justification:
* A fluctuating international customer base increases the complexity of correspondent banking relationships and sanctions compliance, necessitating a larger sample to assess risks effectively.
Irrelevant Options:
* B and D:Stable or localized environments reduce complexity, lowering sample size needs.
* C:Domestic mergers affect customer risk profiles but are less volatile than fluctuating international markets.


NEW QUESTION # 50
Which should the auditor recommend to management in terms of the client's risk rating procedures?

  • A. Provide staff with training on new record retention requirements for occasional transactions.
  • B. Remediate client files to verify their AML and sanctions risk rating and document enhanced due diligence measures, where applicable.
  • C. Remove enhanced due diligence requirements for long-standing clients that are art collectors and do not transact with precious metals.
  • D. Include an assessment of risk factors of channel, credit, and transaction risk to determine the client's composite AML and sanctions risk score.

Answer: D

Explanation:
* Incorporating Comprehensive Risk Factors
* By including an assessment of channel, credit, and transaction risks, the client's overall risk profile is accurately determined. This aligns with risk-based approaches emphasized by FATF and CAMS-Audit standards.
* These risk factors provide a granular view of the client's risk level, ensuring proper classification into Standard or Enhanced Due Diligence categories.
* Regulatory Alignment
* FATF Recommendations mandate that client risk assessments consider the products, services, and delivery channels used, as well as geographic and transactional risks.
ConclusionImplementing composite AML and sanctions risk scores ensures the institution is compliant with regulatory standards and adequately mitigates risks associated with different client profiles.


NEW QUESTION # 51
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