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ACAMS Advanced-CAMS-Audit Exam Syllabus Topics:

Topic	Details
Topic 1	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.
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	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.

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Practice is one of the essential factors in passing the exam. To perform at their best on the real exam, candidates must use ACAMS Advanced-CAMS-Audit practice test material. To this end, Advanced-CAMS-Audit has developed three formats to help candidates prepare for their Advanced-CAMS-Audit exam: desktop-based practice test software, web-based practice test, and a PDF format.

ACAMS Advanced CAMS-Audit Certification Exam Sample Questions (Q85-Q90):

NEW QUESTION # 85
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.)

A. Age (Years)
B. Photo ID taken (copyright copyright. Other)
C. Residence (Country)
D. Type of customer (Trust. Company Individual)
E. Risk factors (Y/N. if Y please specify)
F. Annual premium (S)

Answer: C,D,E

Explanation:
Enhancements to the CRA Process:
* Risk Factors:Identify and document specific risk indicators for transparency and consistent assessment. This ensures alignment with the risk-based approach advocated by FATF.
* Type of Customer:Differentiating customer types (trust, company, individual) is critical for tailoring due diligence measures to the unique risks associated with each type.
* Residence (Country):Tracking customer jurisdiction ensures risk assessments reflect geopolitical and regulatory changes, fulfilling FATF compliance expectations.
Role of Additional Fields in Compliance:
* These fields enhance traceability, accountability, and risk profiling, ensuring the CRA process is comprehensive and meets regulatory standards.
Advanced CAMS-Audit Guidance:
* Documentation must be detailed and periodically reviewed to address evolving AML risks effectively, as recommended by CAMS-Audit guidelines.

NEW QUESTION # 86
A retail banking small and medium-sized enterprise (SME) customer launches a charity and requests a Corporate-SME account to receive donations and make disbursements. Which scenarios would most likely identify activity related to a charity account?(Select Two.)

A. Scenario 5
B. Scenario 7
C. Scenario 6
D. Scenario 1
E. Scenario 4

Answer: B,D

Explanation:
Scenario 1: Evaluates unusual activity, such as large, unexplained deposits or withdrawals, which are red flags in charity-related accounts .
Scenario 7: Exads to detect inconsistencies with the stated purpose, ensuring adherence to AML standards for NPOs.

NEW QUESTION # 87
An auditor is asked to select a judgmental sample from a population of 1 000 clients onboarded during the previous 12 months. Which step should the auditor take first?

A. Request a list of high-risk clients onboarded from management.
B. Review the CDD onboarding policies and procedures to determine the criteria for selection.
C. Evaluate quality assurance processes tor onboarding new clients.
D. Initially sample 10% of new clients onboarded.

Answer: B

Explanation:
First Steps for Sampling:
* Reviewing onboarding policies ensures the sampling aligns with established risk criteria, improving the relevance and accuracy of the audit findings.
Regulatory Emphasis:
* FATF guidance stresses aligning audit sampling with organizational risk assessments and onboarding standards.

NEW QUESTION # 88
Which are the most important documents for an auditor to verify that a financial institution has proper controls in place for mitigating its money laundering risk exposure? (Select Two.)

A. Log of law enforcement requests
B. Money laundering risk assessment
C. Internal controls including policies and procedures
D. Management action plan for remediating audit findings
E. List of politically exposed persons

Answer: B,C

Explanation:
Importance of Risk Assessment and Controls:
* A money laundering risk assessment identifies inherent risks and vulnerabilities the institution faces, forming the foundation for mitigation efforts.
* Internal controls, including policies and procedures, are critical to operationalize the risk assessment and ensure compliance with AML requirements.
Irrelevant Options:
* C:A management action plan is remedial, not preventive.
* D:The list of PEPs is specific to high-risk individuals, not the institution's overall risk framework.
* E:Law enforcement logs provide insight into reactive measures but not ongoing control adequacy.

NEW QUESTION # 89
An audit manager identifies that a financial institution (Fl) has not produced a business-level risk assessment in accordance with policy. The senior manager of the Fl assures that assessing risk at the individual client level and aggregating the data is an acceptable approach. How should the audit manager proceed?

A. Accept the risk conclusions provided by the senior manager.
B. Issue a finding that requires the completion of a business-level risk assessment.
C. Discuss with the senior manager to establish the risk appetite.
D. Test the accuracy of the mathematical aggregation of the risk assessments.

Answer: B

Explanation:
Importance of Business-Level Risk Assessments:
* Aggregating client-level risk assessments does not replace a comprehensive business-level risk assessment, which is required for holistic risk management.
Audit Manager's Responsibility:
* The absence of a business-level risk assessment constitutes a policy violation and must be formally addressed through a finding.
CAMS-Audit Guidelines:
* CAMS-Audit emphasizes the need for layered risk assessments, including enterprise-wide evaluations, to comply with regulatory standards.

NEW QUESTION # 90
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DOWNLOAD ADVANCED-CAMS-AUDIT FEE, ADVANCED-CAMS-AUDIT NEW BRAINDUMPS PDF

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