CAMS Exam Tips & Techniques.

I have to confess that this was the most interesting certificate I have pursued in my professional career, even more than the CFE qualification.

I did my research on the material, if other sources are needed and summarized all these in the coming points;

1. Get the material from ACAMS along with the membership and exam registration fees (comprehensive package) around $1500.
2. Listen carefully to the Audio for the 4 units, solve the MCQ after each sub-unit and the final assessment after each unit.
3. Start testing your knowledge by solving the 123 MCQs placed in Chapter 6 and mark the questions which you solved wrong. They must be practiced at least 3 times.
4. From these MCQs, you can build your own notes summarizing your understanding to the AML/FT topics.
5. Pay attention to the simple points between lines and in particular the below topics

• US Patriot Act, European Directive, OFAC.
• Example of red flags and any suspicious activities which trigger filing a STR or CTR.
• Law enforcement agency authority in seeking documents during investigation of suspects.
• Role of the compliance officer, reporting protocols with the Board of Directors.

6. In many MCQs, you will be given a case and ask you about the proper procedures to follow as the MLRO (Money-Laundry Reporting Officer).

7. Don't focus on memorizing the definitions and don't expect to find the exact similar questions in the exam, if you understand the concept/rule, then you will pass.

8. Finally, visit the database of all previous released exams available on the website; where they are not similar to the real exam questions, but being well prepared will never harm.

Good Luck and All the best.