[UPDATED 2025] Free ACAMS Advanced-CAMS-Audit Exam Questions Self-Assess Preparation [Q49-Q70]

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[UPDATED 2025] Free ACAMS Advanced-CAMS-Audit Exam Questions Self-Assess Preparation

Advanced-CAMS-Audit Free Sample Questions to Practice One Year Update

ACAMS Advanced-CAMS-Audit Exam Syllabus Topics:

Topic	Details
Topic 1	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 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	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 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.

NO.49 Which circumstance would impair an auditor’s independence and objectivity?

Attending internal meetings where key risk indicators are discussed

Donating funds to a local chanty which relates to the organization being audited

Working with staff to design and implement key controls

Presenting at a local audit industry event where best practices are discussed

NO.50 Which factors should be taken into consideration in designing a follow-up strategy when remedial action needs to be taken due to deficiencies identified in an AML audit?

Available resources and board of directors’ commitment

Responsible action owner and internal audit commitment to follow up

Reporting the breach and the regulatory response

Target completion date and status update on remedial action

NO.51 During a sample review, the auditor notices that an alert was generated for a large deposit that was inconsistent with the customer profile. The customer has had no other incidents in the past 10 years and has provided documents to confirm the deposit as a property sale. What should the auditor do?

Increase the sample size.

Document the conclusion within the audit work papers.

Carry out further investigation of this alert.

Consult with the compliance officer.

NO.52 When reviewing an entity’s sanctions compliance program, the auditor should ensure who is exempt from the Office of Foreign Assets Control’s regulations?

US entities having branches outside the US

Non-US entities having branches outside the US

US citizens residing outside the

Non-US citizens residing in the US

NO.53 When sample testing client transaction records, the auditor finds that a client offered to sell a piece of art on a commission basis. A sale was completed and the purchase price was remitted to the client with less commission. What further investigation should the auditor undertake?

Update the national art registry with the sale price of the art work so that art-based money laundering can be detected.

Perform enhanced due diligence on the seller and buyer and update client records with findings

Review procedures for accepting commission sales and determining the buyer’s source of funds on a best effort basis

Commission an external investigator to perform enhanced due diligence on the buyer.

NO.54 The company has automated the completion of the customer risk assessment (CRA) into its main customer relationship management (CRM) system The CRM has needs recording the overall risk level assessed (Standard. Enhanced), the ID number of the staff member who completed the assessment, and me date of the last assessment Which additional fields should the auditor recommend to document the CRA process? (Select Three.)

Age (Years)

Risk factors (Y/N. if Y please specify)

Type of customer (Trust. Company Individual)

Annual premium (S)

Residence (Country)

Photo ID taken (Passport Driver’s License. Other)

NO.55 Which is the most significant risk associated with KYC requirements being considered a low priority not designed into processes and subsequently implemented after the products are already launched?

Product launches may not be adequately prepared.

Client experience improves as accounts can be opened more quickly.

Product launches will motivate frontline to get more customers.

Frontline will not complete adequate CDD.

NO.56 What model test verifies that alerts indicative of potentially suspicious activity are not missed due to threshold settings?

Black-box configuration

Above-the-line

Gap analysis

Below-the-line

NO.57 Which action would an auditor take to evaluate design effectiveness?

Check whether the policies and procedures are consistent with the authorities’ regulations.

Carry out a sample check of suspicious activity reports and make sure they are in line with policies and procedures.

Confirm that alerts in transaction monitoring have been properly escalated or waived.

Confirm that customer records are being kept in accordance with policies and procedures.

NO.58 Which task should an auditor complete first when preparing to audit the client risk scoring methodology?

Query the completeness of the customer data to be provided.

Discuss the client risk scoring process with the head of AML.

Review the financial institution’s AML risk assessment to understand the institution’s client base.

Review a list of high-risk customers provided by compliance.

NO.59 Which does a financial institution (FI) need to do when outsourcing an independent audit?

Select an audit firm based on recommendations from the AMI compliance officer.

Investigate whether the audit firm has conducted prior audits with the Fl.

Ensure that the scope of the audit and the experience of the auditors match the needs of the Fl.

Choose an audit firm based on price consideration and geographic location.

NO.60 As an auditor reviewing this investigation report, which indicates an effective process?

The compliance officer concluded the investigation approximately 3 months later and filed a suspicious activity report.

The compliance officer concluded from the report that there are reasonable grounds for suspicion and filed a suspicious activity report.

The compliance officer filed a suspicious activity report and omitted details regarding the reason it was filed.

The compliance officer decided not to cease the Business relationship hut kept the account under rigorous monitoring process.

NO.61 Which should be requested from a financial institution (FI) prior to beginning a data integrity review?

A report from the AML system showing the import of transactional data

A document from the vendor confirming the data integrity of the AML system’s software

The FI’s AML risk assessment

An end-to-end diagram that depicts core elements such as source systems and data flows

NO.62 Which is considered a minimum requirement in a customer identification program?

Transaction reporting procedures used to report suspicious transactions to the regulator

Transaction monitoring procedures that specify the information that will be retained in each transaction

Account opening procedures that specify the information that will be obtained from each customer

Customer enhanced due diligence procedures used to identify unusual transactions

NO.63 Which set of activities describes the planning phase of an audit?

Request data regarding financials, schedule planning meeting and perform sample testing

Request the scheduling of preliminary discussions with management and request a walk-through of key processes

Request organizational charts, assess data for sample testing and provide an initial report

Request management overview of the organization conduct analytical review of processes and issue findings

NO.64 The standard audit report format requires that an executive summary of the findings is included. Which statement is most appropriate for summarizing detailed findings’?

Although the evidence of enhanced due diligence performed was not available audit was satisfied that the risk of higher risk clients has been appropriately mitigated.

Deletion of transaction records for completed occasional transactions is operationally an efficient practice.

The dealers have assured they are able to identify long-standing regular clients that are typically collectors and customers for occasional transactions.

Evidence indicated inconsistent application of the client risk rating procedures and lack of evidence of enhanced due diligence measures for higher risk clients.

NO.65 What conclusion should the auditor make regarding AML training for outsourced AML providers?

The approach outlined by the Dank is deficient, as the service providers are not pan of the Dank s AML training during its staff onboarding.

The approach outlined by the Dank is appropriate as the Dank can rely on a professional service provider to deliver the AML training program for the Dank s staff.

The approach outlined by the Dank is deficient, as it does not provide controls for the Dank to verify training delivered by outsourced providers to the bank’s staff is appropriate.

The approach outlined by the bank Is appropriate as it considers practical issues such as time zone differences and availability of both classroom and online sessions.

NO.66 An auditor should verify that an institution has ensured its AML systems and controls include:

supporting documents of its risk management policies and risk profile in relation to money laundering.

measures to ensure that money laundering risk is taken into account in its monthly operations.

daily reports by the institution’s money laundering reporting officer on the operation and effectiveness of those systems and controls.

training for senior management and the governing body only.

NO.67 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 fluctuating customer base in an international environment

A well-known customer base m a localized environment

A customer base changing due to a merger in the domestic market

A stable customer base in an international environment

NO.68 What type of audit approach should the auditor use when testing KYC files as part of an AML examination?

Horizontal

Full scope

Vertical

Risk-based

NO.69 The scoping and planning process of an AML audit of a bank is best guided by review of which document?

Independent model validation and testing report of the bank’s transaction surveillance systems

Information technology security risk assessment of the bank’s COD risk rating solution

Report of independent audit conducted the previous year

A document prepared to identify the inherent risk associated with a bank’s products and services

NO.70 Review of client files reveals that staff members have been performing negative media searches for clients only when they recognize the client name. When an interesting story is identified a print of the results is inserted in the client file. There are no clear procedures on adverse media screening. Which should the auditor recommend? {Select Two.)

Evidence of negative media screening retained in client files must comprise negative reports only.

All staff members should be provided with additional training to ensure they adhere to standard procedures.

Identification of relevant reports via adverse media searches must be escalated for an assessment for materiality.

Privacy regulation requires that clients who have a print copy of the adverse media m their files should be notified.

Procedures should be enhanced to require that all clients are subject to regular negative media screening.

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[UPDATED 2025] Free ACAMS Advanced-CAMS-Audit Exam Questions Self-Assess Preparation [Q49-Q70]