CAMS Exam

Posted By: AnnRoy

CAMS Exam - 05/05/11 02:02 PM

Has anyone taken the CAMS exam recently (i.e., March - present)? If so, how was it? I understand the exam was rewritten so wondering if the exam is more/less difficult now?
Posted By: Retired DQ

Re: CAMS Exam - 05/05/11 02:04 PM

Our BSA guy took the CAMs 2 yrs ago, then he took his CFE, he said the CFE was a lot harder and longer.
Posted By: Juby

Re: CAMS Exam - 05/05/11 02:11 PM

I just took it in April. They said the beta testing period for the new version would continue until they have a large enough sample. There were 162 and you have 3.5 hours. Did you get to attend the live chat on the exam rewrite? I still have the slides if you want them. They said we should get our scores early- to mid-summer. So hard to wait! Anyway, I don't have any coworkers that took the previous version so I have nothing to compare it to. I didn't feel like it was too difficult but I did have to think on several. Some of the questions were not well written in my opinion, so I hope those get thrown out. I had been studying the fourth edition study guide for most of my time, but then worked with the fifth edition too when they sent that out.
Posted By: ACBbank

Re: CAMS Exam - 05/05/11 02:38 PM

My colleague took it last month and was quite upset. CAMS did not tell him that the test was in beta, nor about the delay in getting his results. He was quite pissed and was considering demanding a refund. I guess since he didn't actually pay for it, he decided to wait it out. He maid similar remarks about the test that Juby did in that the questions were poorly written.

This is not the first time I have heard about ACAMS operating in less than honorable fashion.
Posted By: Juby

Re: CAMS Exam - 05/05/11 04:41 PM

Now that I think about it, your colleague is right. There was no direct notification about the beta testing. The only mention was in an email listing a bunch of training opportunities, including the exam rewrite chat. I registered to see what it was. That was where I learned the details. The later email with the new edition of the study guide didn't say anything about the beta testing. I can imagine what a bad surprise it was to go into the exam without knowing.
Posted By: rlcarey

Re: CAMS Exam - 05/05/11 05:19 PM

Whether if it was a beta test or not - what difference does it really make? If you pass - you pass. The reason for the delay in grading is that they are probably analyzing the results of each question and if a share of the testers got it wrong, they are determining whether they should throw the question out of the grading scale if it was unclear or misleading. As far as I am aware, no two test sessions are ever exactly the same anyway for any of these certifications.

I really don't see waht the issue might be.
Posted By: ACBbank

Re: CAMS Exam - 05/05/11 05:27 PM

The issue is quite simple Randy. When he paid for membership, the ability to take the exam and whatever else comes with the purchase, he was told he would get his results at the end of the test. He paid for membership, study material, to take the exam and to know on the same day if he passed. He didn't pay to be part of the beta process. At the least, ACAMS should have been upfront about it, which they were not. At the end of the day, you pay for A, you should get A.

I won't go into other stories I have been told about ACAMS, as I don't want this to turn into a thread about their business practices.
Posted By: rlcarey

Re: CAMS Exam - 05/05/11 05:39 PM

ACB - Well, maybe that's also why you don't see a bunch of initials behind my name on my business cards smile
Posted By: ACBbank

Re: CAMS Exam - 05/05/11 05:43 PM

Originally Posted By: rlcarey
ACB - Well, maybe that's also why you don't see a bunch of initials behind my name on my business cards smile


You are wise man Sir. smile
Posted By: HMS Pippii

Re: CAMS Exam - 05/05/11 10:16 PM

Wow. Glad I took it last year...have to admit, the instant feedback and congratulatory email from John Byrne that was already on my BlackBerry by the time I got back to the car was a lot better than waiting for my CRCM results to come in the mail.

That said, I learned a lot more in studying for the CAMS certification that I learned studying for the CRCM and I've been in both BSA and Compliance for a very long time.
Posted By: AML247

Re: CAMS Exam - 05/06/11 08:47 PM

Juby, I would love to have a copy of the slides since I wasn't able to attend. Would you be willing to share them with me?
Posted By: AnnRoy

Re: CAMS Exam - 05/09/11 02:07 PM

Well, I particippated in the CAMS Rewrite webinar that was held in January 2011. The Beta testing was to begin in March 2011 and I registered for the exam in late March with a test date in April.

When I contacted ACAMS in April to make sure all my "ducks were in a row", I inquired about the beta testing and was told it ended in March. Therefore when I take the exam, I would know my score immediately. GO FIGURE!!

BTW - My "ducks were not in a row" (my error but ACAMS Certification dept was very accomodating); hence, I will be taking the exam this month. Just wondering how many questions were "thrown out" during the beta environment.
Posted By: Juby

Re: CAMS Exam - 05/10/11 03:17 PM

Nu2BSA - I just emailed you the slides.

AnnRoy - The beta testing definitely did not end in March. I took my exam in mid-April and had the beta version. I requested something to provide to my employer, and received a letter just a little over a week ago that said "we expect the beta period to last until the beginning of this summer." Maybe it ended early, but not in March. I understand what Randy says about if you pass you pass. However, I think it helps to know whether you are taking a shorter or longer exam just so you can prepare mentally and not be caught off guard. Good luck!
Posted By: Diya

Re: CAMS Exam - 04/19/13 08:26 PM

I'm taking my test tommorw, can anyone tell me what i should concentrate on beside reading the 400+ guideline that I read and took the practice test many times just to keep things fresh.
any feedback will be appreciated.
Posted By: Dr.Ozya

Re: CAMS Exam - 04/19/13 08:59 PM

After all that you've done - just relax and have a good sleep. If 19,000 people could do it, you will pass, too.

Good luck!
Posted By: Diya

Re: CAMS Exam - 04/19/13 09:05 PM

thank you so much! I needed to hear that! I'll come back and let you know how I did :-)
Posted By: WynnieUBE

Re: CAMS Exam - 04/28/14 07:55 PM

So I just took my CAMS exam...I did all the proper studying, took the prep exams multiple times, even bought the 120 question practice exam from AML-Assassin and took it twice. Felt pretty prepared and STILL didn't pass!! I came extremely close, but no cigar. Any advice about how I should prep this time around, additional materials, or a good live prep course? I cannot fail a second time around...thanks!!!!
Posted By: Data

Re: CAMS Exam - 04/29/14 03:17 PM

Don't change anything. You were very close so just use the same material and keep working on it. Don't confuse yourself with getting more material to stress over. You can do this thing so just relax and get it done.
Posted By: MScarn6942

CAMS Exam - 08/25/17 01:33 PM

Hello! I'm going to start preparing to take the CAMS Exam in the next year or so. Would anyone be willing to share some tips/experiences that you went through? Any tips on preparation? Thanks in advance!
Posted By: Q

Re: CAMS Exam - 08/25/17 02:25 PM

Prepare a weekly schedule on what you want to accomplish as far as how many pages or chapters to read. Get knowledgeable with the different organizations (FATF, Basel Committee, etc.) and their rules. For the practice exam in the guide make sure to have someone grade it for you and tell you number you got wrong but not which ones. I set up an excel sheet to take the practice exam. One page was for my answers, 2nd page was correct answers (had someone else enter them for me), and third page was formulas set up to tell me number write or wrong. I wouldn't look at ones I got wrong until week before exam to see what to study up on.
Posted By: Q

Re: CAMS Exam - 08/25/17 02:26 PM

And Good Luck!!!
Posted By: RockChucker, CAMS

Re: CAMS Exam - 08/25/17 02:43 PM

There are always a few people studying to take the exam, post in the ACAMS forums and see if you can put a study group together. We did and it was always held over the phone.
Posted By: MScarn6942

Re: CAMS Exam - 08/25/17 04:22 PM

Awesome - thanks for the advice everyone. Just out of curiosity, do you have to continue to be an ACAMS member in order to stay certified once the test is passed?
Posted By: RockChucker, CAMS

Re: CAMS Exam - 08/25/17 04:34 PM

Yes
Posted By: MScarn6942

Re: CAMS Exam - 08/29/17 08:57 PM

Is this a multiple choice test like the study guide's examples?
Posted By: RockChucker, CAMS

Re: CAMS Exam - 08/29/17 09:00 PM

Yes, multiple choice test.
Posted By: BrianC

Re: CAMS Exam - 08/29/17 09:03 PM

Yeah the fun part is all the goofy choices.

A. I, II and IV are correct
B. I, II and III are correct
C. II, III and IV are correct
D. All of the above are correct.

It is a testing methodology to ensure you understand each term in the question. Just like back in grade school, eliminate the obvious wrong answers first...No #2 pencil though since the test is computerized.
Posted By: MollyM

Re: CAMS Exam - 08/29/17 09:05 PM

My advice is to go through all materials and mark only the pages you are not familiar with - then concentrate on those pages! Also, never take the test during a Beta phase. I had an employee who recently did so - they had changed the passing score without updating the website or notifying anyone, you had 90 additional questions and only 30 extra minutes - she did not pass.

The exam has settled down and is no longer so many questions and is easily passable - another employee took it after the Beta and passed!

Good luck - it is not that bad of a test at all.
Posted By: MScarn6942

Re: CAMS Exam - 08/29/17 09:06 PM

Awesome! So Brian, is that how all of the questions are? Or just some of them? The study guide looks like it'll accept A, B, C, D, or any combination of those. Which makes it a fair amount tougher because elimination obviously gets harder...
Posted By: bcompliance

Re: CAMS Exam - 08/29/17 09:08 PM

Originally Posted By MScarn6942
Is this a multiple choice test like the study guide's examples?


it is multiple choice
Posted By: BrianC

Re: CAMS Exam - 08/29/17 09:40 PM

Not all of the questions are like that. Some are "Which of the following is NOT" or "Choose the answer that most closely describes..."
Posted By: E.E.G.B

Re: CAMS Exam - 09/06/17 01:29 PM

The test was substantively revised last year. A lot of effort was put into weeding out misleading, trick, or illogical questions.
Posted By: MScarn6942

Re: CAMS Exam - 02/22/19 07:25 PM

So... life (a baby!) got busy and I didn't get moving towards the CAMS and am hoping to start up again. I thought I'd found a study guide once, but ACAMS website says that it's only issued after you pay. Is there one available for free that anyone knows of that's recent? I found the 2012 guide online but am worried that'll be too far out of date.
Posted By: ComplianceNewbie

Re: CAMS Exam - 02/22/19 07:56 PM

The most recent CAMS Study Guide (Sixth Edition) is a copyrighted work, so it is not permissible to distribute without permission from ACAMS. The 2012 study guide is not the most recent revision either. I believe that would be the fifth edition.
Posted By: MScarn6942

Re: CAMS Exam - 02/22/19 08:04 PM

Gotcha, thank you! The one I found was the 5th edition... I saw 2012 somewhere but not sure where. Is it true that the main difference is the addition of the fifth pillar to the 6th edition?
Posted By: ComplianceNewbie

Re: CAMS Exam - 02/22/19 08:23 PM

The new CDD rule is mentioned and occupies about a third of a page in the study guide. FATF Recommendation 10 is referenced more with CDD than FinCEN's CDD Rule. I would become familiar with the FATF 40 Recommendations if you are planning on taking the CAMS exam. I cannot answer your question on the difference between the editions, since my exam was based on the sixth edition.
Posted By: mdosu

Re: CAMS Exam - 09/12/19 11:51 PM

I'm 3 weeks out from my schedule CAMS exam.

I've read most of the study guide twice. I've gone through the unfamiliar targeted sections multiple times. The first time I took the Chapter 6 practice test, I scored 85% (103/120).

I've read all the reddit summaries on areas of focus, so I'll be concentrating on those. My weakest is the international bodies' recommendations FATAF, EU directive, Wolfsberg. I also plan on reading and re-reading all the Chapter 3 red flags as I noticed the practice exam questions on those topics followed very closely with the written materials.

I have my CRCM, and I've worked in consumer compliance program management for 4+ years (zero years working on AML topics), so I noticed that the situational questions especially on Chapter 4 topics are "second nature" to me. A lot of it is simply understanding best practices in compliance, risk and bank program management.

So for those who took the exam, how much should i discount my practice exam score by for an indicator of my final score? I read that the practice exam was too easy, and I also recognize that too as it was easy to eliminate many of the wrong answers by simply just reading the question and answer carefully and recalling what generally the study guide discussed.
Posted By: BrianC

Re: CAMS Exam - 09/13/19 12:56 AM

The questions that I found most challenging also focused on the international directive.

For example, a question may ask, "Which of the following are Wolfsberg Group priorities?" And then the answers will list 3 Wolfsberg Group priorities, one FATF recommendation, and one EU Directive priority.

The choices are then
a. I, II, V
b. I, II, IV
c. I, III, V
d. II, III, IV

It is much harder to eliminate the 'obvious' wrong answer with this format. As much as you can, memorize through the use of flashcards which areas of focus apply to which money laundering group.
Posted By: RockChucker, CAMS

Re: CAMS Exam - 09/13/19 06:27 PM

I agree with BrianC. My area of additional focus was for international stuff as I had no experience with it in my prior banking experience. The exam wasn't as bad as I expected but I was glad that I did study.
Posted By: mdosu

Re: CAMS Exam - 09/13/19 10:29 PM

thanks, I was recently aware of questions in this format. Now back to my attempt to tattoo FATAF, Wofsberg and BASEL papers/recommendations into my brain!
Posted By: Beagles22

Re: CAMS Exam - 10/03/19 03:36 PM

Good luck mdosu! I am just starting the process - got my guide yesterday!
Posted By: praBSA

Re: CAMS Exam - 10/03/19 07:50 PM

The exam was much tougher than any practice questions. With that said, make sure you really study FATF, Wolfsberg, and EU Directives.
Posted By: MNCompliance

Re: CAMS Exam - 11/20/19 07:53 PM

Recently took and passed the exam! I felt the practice exam was nothing like the actual exam (actual exam was much tougher than the practice). I felt the type and format of the questions on the exam which much different than the practice test.
Posted By: jsim913

Re: CAMS Exam - 11/21/19 02:35 PM

I passed the exam in May and I agree - the practice exam from the book isn't close to the actual exam. When I was studying, I found a recommendation for AML Assassin on another forum. I bought access to their practice test (~$100) and it was much more realistic. It had 120 questions set up like BrianC mentioned above and was very reflective of my test. I also could do it on my phone so I could knock out 5 or 10 random questions when I had time to kill. That being said, looking back, I feel like I could have passed the exam by reading through the manual a few times and hitting the flash cards more. Flash cards don't give you the fallback of process-of-elimination on multiple choice - you can nail all those flash cards then the exam will be cake.

A note on the ACAMS test prep class - I personally don't recommend it. The only thing it does is force you to read the book each week to follow their homework structure. The assignments and extra reading were interesting but a lot of it had nothing to do with the exam imo. Better yet, save the cost of the class and get the AMLA practice test.