Acams Advanced-CAMS-Audit Practice Exam Questions & Answers
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· Last reviewed: October 25, 2026
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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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Which should the external auditor recommend to ensure that the institution did not facilitate transactions involving a sanctioned person?
Correct Answer:
A
Explanation
Before presenting exceptions to the auditee, auditors must evaluate their likelihood of occurrence and potential impact on compliance and operational risks. This assessment determines which findings are most significant and need immediate attention. Simply identifying exceptions without analysis would not provide the auditee with actionable insight into what matters most for their risk profile.
An audit determines that an important control is not being performed. The operational manager responds to the audit comment stating that they do not have adequate resources in the department to accomplish this task. The audit item discussion between the auditor and the operational manager is a(n):
Correct Answer:
D
Explanation
The planning phase of an audit involves establishing the foundation for the engagement. Scheduling preliminary discussions with management and requesting a walk-through of key processes are essential planning activities. These steps help the auditor understand the organization's operations, identify risks, and set appropriate scope. Other options like conducting detailed testing or drafting final reports occur in later phases, not during planning.
The auditor determines that the population for transaction monitoring testing can be stratified into five distinct categories. To complete testing which sampling method should the auditor use to identify the sample size?
Correct Answer:
C
Explanation
Operating effectiveness testing evaluates whether controls function as intended in day-to-day operations. Testing an automated daily validation report that checks data accuracy is a direct example of this type of testing. The auditor assesses whether the system produces reliable results consistently. Design effectiveness testing focuses on whether controls are properly designed, while compliance and substantive testing address different audit objectives than operational performance.
Why is it crucial for the audit plan to consider the effectiveness of the AML risk assessment controls and risk mitigants?
Correct Answer:
B
Explanation
When serious deficiencies are identified, the organization must develop a structured remediation plan. Engaging a qualified third party brings external expertise and credibility to the assessment process. This approach ensures the remediation plan is thorough and addresses root causes. Simply correcting obvious issues without external review may miss underlying problems. Immediate unilateral corrections without professional guidance can lead to incomplete solutions.
Following completion of testing and tuning of the parameters and thresholds of the transaction monitoring model which final step should the team recommend as necessary to verify effective model functioning?
Correct Answer:
A
Explanation
Charity accounts require careful monitoring for suspicious activity patterns. Scenario 1 identifies large, unexplained deposits or withdrawals that deviate from normal nonprofit operations. Scenario 7 detects inconsistencies between account activity and the stated charitable purpose. Both scenarios help auditors spot red flags specific to nonprofit organizations. The other scenarios likely address different customer types or transaction patterns that are less relevant to charity account monitoring.
Independent testing of the New York branch of a foreign bank is conducted by an outsourced audit firm. The independent testing report should be submitted to which authority in order to provide appropriate level of governance and oversight?
Correct Answer:
B
Explanation
A document listing outstanding audit findings with assigned owners, due dates, and space for management responses serves as a tracking tool for follow-up. It keeps recommended actions visible and accountable by documenting who is responsible and when responses are due. This creates a formal mechanism to monitor whether management actually implements the recommendations the auditor has made.
When conducting an audit of a money services business (MSB), the frequency of the review depends on the country's regulatory practices and the MSB's.
Correct Answer:
A
Explanation
When targeting a specific population like newly onboarded high net-worth clients, multiple sampling methods work effectively together. Judgment sampling lets auditors focus on clients they identify as higher risk based on their characteristics. Stratified sampling divides the population into groups so auditors can ensure adequate representation of high net-worth clients. Systematic sampling provides a structured approach by selecting every nth client from an ordered list. Other methods like random sampling don't allow the same level of targeted selection.
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Get the complete Advanced-CAMS-Audit question set
- 90 questions covering all exam domains
- Correct answers with explanations, like the free questions above
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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.
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:
Q2
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:
Q1Q3Q5Q6Q7
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:
Q4
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.
