Acams Advanced-CAMS-Audit Practice Exam Questions & Answers
5 Free Questions
· Last reviewed: September 4, 2026
· Prepared & Reviewed by the ValidExamDumps Editorial Team
Exam Facts
Acams Advanced-CAMS-Audit Exam Details
Key details for this exam, checked against the published exam outline
90
Practice Questions (Our Bank)
180 minutes
Exam Duration
- Exam Code
- Advanced-CAMS-Audit
- Full Name
- Advanced CAMS-Audit Certification Exam
- Issuing Body
- ACAMS
- Question Format (Our Bank)
- Multiple Choice
- Eligibility
- Active ACAMS membership and passed the CAMS certification
- Validity
- 3 years
Practice Questions
Free Advanced-CAMS-Audit Practice Questions
Each question shows the correct answer and an explanation of why it is right
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A recent regulatory examination identified serious deficiencies in the AML program. Which action should the organization take first?
Correct Answer:
C
Explanation
Product risk and customer risk are the two key components you need to evaluate in AML risk assessments. Product risk looks at whether specific products like high-value transfers or anonymous payment systems create inherent AML vulnerabilities. Customer risk focuses on who the customer is, including whether they are politically exposed persons or have other characteristics that elevate risk. Together these form the foundation of risk mitigation strategy. Other answer choices like transaction monitoring or reporting procedures are important controls but they are not components of the risk assessment itself.
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?
Correct Answer:
B
Explanation
An audit finding is only closed once the corrective actions have been fully implemented and verified as working. Simply identifying a problem or discussing solutions is not enough. The organization must complete the actual remediation steps and the auditor must confirm those steps are effective. This follows a logical sequence where findings are raised, corrective actions are agreed, actions are taken, and then verified before closure. Premature closure leaves risks unaddressed.
An auditor plans to examine a sample targeting newly onboarded, high net-worth clients to assess adherence to their onboarding policies. What sampling methods should the auditor use? (Select Three.)
Correct Answer:
A, B, F
Explanation
When an organization outsources AML functions including staff training, the bank cannot simply accept that training has happened. The bank must retain controls to verify the quality and appropriateness of any training delivered by external providers. This is the bank's responsibility even when work is outsourced. If the bank has no way to confirm training meets standards, it has a control gap. The auditor should flag this as deficient because the bank cannot demonstrate adequate oversight of its AML obligations.
During the interview, the local director informs the audit manager that no internal or regulatory audits have occurred since the local director's appointment The local director relies on a locally-approved independent external review of Company A performed 12 months ago by a local firm How should the audit manager respond?
Correct Answer:
B
Explanation
For non-profits vulnerable to terrorist financing abuse, the auditor should look for ongoing due diligence on relationships and scrutiny of transactions throughout the relationship period. This shows continuous monitoring rather than one-time checks. The auditor should also identify whether there are controls detecting concealment of fund diversion to terrorist organizations. These controls address the specific risk that legitimate donations might be secretly redirected. Environmental controls on suspicious activity reporting or general compliance policies are less specific to the actual abuse scenario.
Which task should an auditor complete first when preparing to audit the client risk scoring methodology?
Correct Answer:
C
Explanation
When an alert is generated for a large deposit inconsistent with customer profile, the auditor's job is to evaluate whether the alert was appropriate and whether the customer's explanation is reasonable. In this case the customer provided documentation supporting the deposit as property sale proceeds and has no history of suspicious activity. The auditor should document the conclusion in work papers showing the alert was appropriately investigated and resolved. This creates an audit trail of the evaluation and conclusion. Simply ignoring the alert or passing it to another department would not fulfill the auditor's testing responsibility.
Domain 1: Corporate Governance and the Audit Function
Evaluates the foundational role of corporate governance structures in ensuring effective oversight of audit processes. Tests your understanding of how organizational governance frameworks support audit independence and effectiveness.
Sample question from this domain above:
Q4
Domain 2: Planning and Scoping
Assesses your ability to develop comprehensive audit plans, define clear objectives, and determine appropriate scope for audit engagements. Requires knowledge of risk assessment, timeline setting, and audit methodology selection.
Sample question from this domain above:
Q1
Domain 3: Fieldwork and Evaluation
Tests execution of audit plans through collection and analysis of relevant information and audit evidence. Focuses on practical application of testing procedures and evaluation of audit findings.
Sample questions from this domain above:
Q3Q5
Domain 4: Reporting, Recommendations, and Follow-up
Covers compilation of audit results, presentation of findings to stakeholders, and development of actionable recommendations for improvement. Includes communication skills and follow-up procedures to ensure remediation.
Sample question from this domain above:
Q2
Domain 5: Innovation in Procurement and Supply
Elective domain targeting innovation leaders in procurement. Covers techniques to develop suppliers and promote innovation within procurement and supply chain functions.
FAQ
Advanced-CAMS-Audit Exam FAQ
Common questions about the exam itself
Do I need to hold CAMS certification before attempting Advanced CAMS-Audit?
Yes, you must have passed the CAMS certification and maintain active ACAMS membership to be eligible for Advanced CAMS-Audit. This prerequisite ensures you have foundational anti-money laundering knowledge before pursuing the advanced audit specialization.
How many questions are on the Advanced CAMS-Audit exam and how long do I have to complete it?
The exam contains 90 questions and you have 3 hours to complete it. The test includes multiple choice and multiple select questions, along with case study scenarios that require you to interpret data and audit findings.
How long is the Advanced CAMS-Audit certification valid after I pass?
Your Advanced CAMS-Audit certification is valid for 3 years. After that period, you must complete recertification requirements to maintain your designation.
What happens if I don't pass the Advanced CAMS-Audit exam on my first attempt?
ACAMS enforces a 30-day waiting period before you can retake the exam. After one year from your original application, you must pay the full examination fee again to retake the test.
Which audit role does Advanced CAMS-Audit prepare me for?
Advanced CAMS-Audit is designed for professionals who conduct internal or external anti-money laundering and financial crime compliance audits. The certification also suits control functions, assurance teams, and personnel performing independent testing of anti-financial crime controls.
How does Advanced CAMS-Audit differ from the base CAMS certification?
Advanced CAMS-Audit provides specialized knowledge for audit execution and evaluation, including Planning and Scoping, Fieldwork and Evaluation, and Reporting functions. It builds on the broader AML fundamentals covered in the base CAMS certification.
What is the Reporting, Recommendations, and Follow-up domain testing?
This domain evaluates your ability to compile audit results, present findings to stakeholders, and propose actionable recommendations for improvement. It assesses communication skills and your understanding of follow-up procedures to ensure remediation of identified issues.
How long should I realistically spend preparing for Advanced CAMS-Audit?
Preparation time varies based on your audit experience and AML knowledge, but the study materials include a guide, review questions, post-assessment, and practice exam to help you prepare thoroughly. Virtual classroom options provide four to six weeks of additional structured study if needed.
What recertification is required to maintain Advanced CAMS-Audit after 3 years?
You must earn 45 recertification credits over the three-year period, with a minimum of 15 credits from ACAMS training or events. You must also maintain active ACAMS membership to keep your certification valid.
Does Advanced CAMS-Audit require me to demonstrate Corporate Governance knowledge?
Yes, Corporate Governance and the Audit Function is one of the five key domains tested. This section measures your understanding of how corporate governance structures ensure effective oversight and support audit independence and quality.
