Know about ACAMS Qualification | CAMS Exam Guide
Do you all know what ACAMS is? Anti-Money Laundering Specialist, a credential designation for financial auditors to combat money laundering. The CAMS is offered by the Association of Certified Anti-Money Laundering Specialists. The association serves to provide exclusive training and certification for anti-money laundering professionals.
As there are over twenty thousand people worldwide, the applicant will need to apply for membership with the ACAMS before applying to the CAMS exam. The certification of CAMS will rigorously test the aptitude and expertise of the applicant and comprehend the ability of anti-money laundering detection, prevention, and enforcement.
Every applicant who passes the exam receives the prestigious credential known as the Anti-Money Laundering Specialist, which designates that. In addition, the government and financial institutions globally and highly recognize the credentials around the world.
There are many requirements that you will need to fulfill before you enroll to take the CAM exam. So, for the ACAMS Qualification, the very first thing you will need to do is earn at least 40 credits of college coursework. Luckily, the ACAMS counts professional experience by awardingten0 credits per year, so for straight thirty years,s you will get 30 credits.
There are no such requirements for the employment sector; you can be in any field and still apply for the CAM exam. The next thing you will need to keep in mind is the professional financial certifications, as they may count up to 10 credits for each accreditation; this may include recognized certifications like CPA, CP, E, or CPP.
At last, the applications are awardedten0 credits if you have an associate degree, 20 credits if you have a Bachelor’s degree,e, and 30 credits if you have a Master’s degree or a Doctorate. Finally, the applicants can receive up to four credits for completing an AML course.
Is the CAMS certification irreplaceable?
For anti-money laundering specialists, the CAMS Certification is the only credential. When the applicants prepare for the CAMS exam and pass it, they gain competencies and expand their expertise. In addition, it helps them to better protect organizations from crimes.
The applicant pursuing the credential proves that they are committed to providing the association with development at a professional level. In addition, the CAMS certification keeps the specialists aware of industry needs and helps them work accordingly.
It demonstrates that employers are committed to combating money laundering. In addition, ACAMS qualification helps the financial auditor to prove themselves professionally.
CAMS exam content
The CAMS exam contains 120 questions, which the candidates are required to complete within three and a half hours. There will be no negative marking or penalties for guessing; test takers are always encouraged to avoid leaving any questions in the examination.
The examination may include questions from non-bank financial institutions, insurance companies, casinos, and other terrorist financing methods.
Questions about compliance programs will be touched on assessments, procedural policies, and risk models. However, to become an ACAMS specialist, you will need to earn a finance degree and pass the examination.