One of my professional goals for 2009 is to obtain the ACAMS Certification. I was going to pay the cost (about 2K) myself, but I was able to obtain my bank's sponsorship. But there is a catch, i must pass the test the first time.

The test will be in 2 months. I plan to take an online preparation seminar, but I've heard that the test is really tough.

I need help! I want to be well prepared for this test.

I would certaintly appreciate any tips, websites, materials, etc.

I took the test in the beginning of 2006 and it was tough, but not nearly as tough as I thought it was going to be. I had to travel to DC for the training class from Anchorage, AK because they didn't have the online courses then. The regs and international governing bodies were a big part of the test. If you understand ML and are able to think "like a criminal" then the cases they give you will be easy to figure out. Make sure you know the exact words they use to describe the three layers of ML. Oh and I just studied straight from their study guide. You'll do great, don't stress!

Ditto. Use the study guide and be familiar with FATF rules (including terrorism rules), Wolfsberg, FIUs, etc as discussed in the guide. When working through the various answers, remember that more than one answer may be correct, you can usually rule them out one-by-one until you arrive at the MOST correct answer.

The study guide is an incredibly valuable tool. I also took the prep class offered by ACAMS and found some valuable "nuggets" of information.

I agree with BeachGirl. I completely stressed myself out over how hard I thought it was going to be and ended up with a 96%.

I took it in 2004 so I don't know how much it has changed...
but I would ditto BrendaC's comments.

There will be some questions with straightforward answers, but with the money laundering scenarios, choose your answer by a process of elimination.

The manual is very thorough on what they will cover...
Know your FATF and Wolfsberg facts.

It is alot of questions but you have the time.

Good Luck!

I just took the exam on January 15th and passed. Phew!

I can echo what others have said. Be sure to thoroughly study the Study Guide. The test really does cover the entire thing. And it gets specific, too, so don't just think, "Well, yeah, that makes sense!" without understanding the intricacies of what they're talking about. I made that mistake and had a few questions that stumped me.

The test is 120 multiple choice questions and sometimes they make it seem like more than one could be correct.

It was difficult, for sure. But if you study, study, study you should be able to pass. Good luck!

Congratulations on passing the exam Croak!!

Thank you!