How to pass the Certified Anti-Money Laundering Specialist (CAMS) Exam?

Qualifying an exam and attaining certifications, requires great determination and constant hard work. Certifications not only validate your expertise in a particular field but also increase your demand in the industry. Similar is the case with the Certified Anti-Money Laundering Specialist (CAMS) certification. However, attaining certifications is not as easy, especially when you are a young professional. And if you are one of these professionals who are looking for the preparation resources to pass the exam and become a Certified Anti-Money Laundering Specialist, then you are in the right place. Below, we have assembled a detailed roadmap, to help you prepare well for this certification exam.

What is CAMS Certification Exam?

The Certified Anti-Money Laundering Specialist CAMs certification exam is for validating your skills in becoming a professional in Anti-Money Laundering and Combating Terrorism Financing Sector. This certification is offered by the ACAMS. They are the largest international membership organization dedicated to enhancing the knowledge and expertise of financial crime detection. They also have expertise in prevention professionals, from a wide range of industries, in both the public and private sectors.

The CAMS credential is the gold standard in AML certifications. It is recognized internationally by financial institutions, regulators, and governments. Also, it is known for its serious commitment to protecting the financial system against money laundering.

Who is a Certified Anti-Money Laundering Specialist?

CAMS is a lucrative and respectable Anti-Money Laundering Professional. They prove to have expert accreditation. The candidates with 75% of the score in the Certification exam become CAMS. Besides, they investigate potential money laundering risks in banks and financial institutions. It’s their job to ensure the efficient identification, monitoring, and documentation of suspicious transactions.

The CAMS credential is the one-of-a-kind stipulation for financial auditors to fight money laundering. The CAMs certification salary can range between ₹8-10 lakh on average.  Altogether, their designation denotes a superior level of knowledge and understanding of AML/CFT principles.

Exam Overview

Let us now have a close look at the basic exam details of the Certified Anti Money Laundering Specialist CAMS certification exam.

Course Outline 

Let us now have a look at the more technical section of the exam preparation, ie., the course outline. The topics covered in the Certified Anti-Money Laundering Specialist CAMS exam are: 

• Firstly, Risks, and methods of money laundering and terrorism financing (26%)
• Secondly, Compliance standards for anti-money laundering and combating the financing of terrorism (25%)
• Then, Anti-money laundering, CFT, and sanctions compliance programs (28%)
• Finally, Conducting or supporting anti-money laundering investigations (21%)

Use Certified Anti Money Laundering Specialist Study Guide for better preparation!

Preparation Guide for the CAMS Exam

To begin with, you have to be very thorough with how you’re preparing for the exam. Because obviously you don’t want to end wasting all those months. Moreover, choosing the best strategy to prepare for an exam, is the most effective way to pass an exam, and gain certification. Saying so, this guide will help you structure your preparation for the exam. Preparation for all Certifications is not exactly the same. It will help you accordingly and save much valuable time of yours. 

Official Study guide

Before moving forward any step with the exam preparation goes through the official Certified Anti Money Laundering Specialist study guide. This is the most important step as ACAMS have some checkboxes. To take the exam you have to be a member of ACAMS. The website offers a calculator to check eligibility for the exam. You need to have 40 ACAMS credits. 

CAMS Virtual Classroom

Though ACAMS offers Self-study options, the best approach is to get an advanced package. The Virtual Classroom is the best way of clearing the exam. It covers all the major topics and is moreover, officially presented by professionals. Furthermore, the upgrades of the package prove to be very useful.

Practice Tests

After attending all virtual classes, the next step is to practice. As great things happen with time, give time to practice. Certified Anti Money Laundering Specialist Exam practice tests makes you familiar with the actual exam conditions, and this also increases your self-confidence. Moreover, to prepare well, a through practice is a must. After all, practice makes a man perfect. So what are you waiting for? Start your CAMS exam journey now!

Fuel up your zeal and enhance your skills to become a Certified Anti-Money Laundering Specialist. Start Practicing Now!