I am studying for the exam and was wondering, for those who have taken it, any advice? Does the practice test in the study guide represent the actual questions? Anything you would focus on more or less? Any tricks or tools you found helpful.

Stressin' out here!

Does the practice test in the study guide represent the actual questions? yes

If you are fully versed in US BSA study on the international part that is not part of your daily routine.

Know about FATF and their recommendations.

On the multiple choice questions, if you are not sure, do process of elimination.

Don't think too much on your personal opinion/experience on some of the Money Laundering questions... think more global.

..and Good Luck!
You'll do fine.

Thanks! I have a feeling I am anticipating it being more difficult than it is. I took the practice test in the study guide and scored 98% so I am hoping it is similar.

I am also studying for the CAMS. Thanks for the tips, everyone!

Do any of you have any ammunition/back up that I could use to justify my bank agreeing to pay for the ACAMS? Or am I the lone ranger and every other bank out there is happy to pay for all sorts of training and certifications for its employees?

I put together a Powerpoint Presentation explaining what ACAMS was, the general benefits of ACAMS, the specific benefits to the Bank, specific benefits for analysts, how much it would cost, and how much other banks have paid in fines for not having adequate AML controls.

That worked for me.

I would quote the four pillar of BSA.

Thanks for the input.

it is a small price to pay to prove to examiners that the bank is dedicated to BSA compliance and has adequately trained professionals performing the monitoring.

Personal experience is that the CAMS certificate in my office eliminates many regulator/auditor questions about my credentials for being the BSA Officer.

Examiners love this certification. It's well known within the industry. ACAMS also offers some really good free and paid online courses.

Employers covering the cost for certifications which add value to the company is a standard business practice (At least, in NYC). If my employer wouldn't cover the cost, I wouldn't get the certification.

I PASSED!!!!!

Congratulations!!

Congrats CC Gem!!

I take mine Dec 20th.

Congrats welcome to the club

There is a club? Does it serve booze?

Yes that is what the regulators use on us.

Thanks everyone!

Any nuggets of wisdom for those of us studying, now that you have passed the exam, CC Gem? What to focus on in particular and whatnot?

I was easily making high 90 scores on my practice exams and found the test more difficult and nuanced than I expected. I passed just fine, but was glad I 'over-prepared'. No need to lose points on basic facts.

I found the same as tracytracy. I aced the practice exams and then the "real" test seemed much more difficult. Maybe it was the pressure of actually passing. I'm certain I was overthinking every question.

Hi guys,

I was wondering if you could tell me how long you studied for prior to taking the exam.

I understand it would vary between each person depending on what history you have in the field etc but would like to know the differing timelines.

Thanks

I am also curious. I have my test on the 21st and have always done horribly on multiple choice questions (due to overthinking).

Also, for those who have taken the test, would you say the time limit is more than enough?