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CAMS-RM Practice Questions - ACAMS Certified AFC Risk Manager (formerly Advanced CAMS-RM) Exam

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About this Exam

Prepare with the CAMS-RM Practice Questions - ACAMS Certified AFC Risk Manager (formerly Advanced CAMS-RM) Exam practice quiz. This question bank includes 100 questions covering risk, inherent, sanctions, typically, and typical. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
In the AFC (Anti-Financial Crime) Risk Management framework, what is the primary distinction between AFC and traditional AML?
AFC focuses only on cash transactions while AML covers all transactions
AFC is broader, covering AML, sanctions, fraud, and anti-bribery and corruption
AFC applies only to non-bank financial institutions
AFC replaces all prior AML obligations under the BSA
Question 2
Under the Three Lines of Defense model, which line owns and manages risk in the day-to-day business activities?
First line (business and operations)
Second line (compliance and risk)
Third line (internal audit)
Fourth line (external regulators)
Question 3
Which of the following best describes the role of the second line of defense in an AFC program?
Conducting independent audits of the AML program
Owning customer onboarding and transaction execution
Setting risk policy, providing oversight, and challenging the first line
Filing SARs directly with FinCEN on behalf of the business
Question 4
The 5th BSA pillar, added by the 2018 FinCEN CDD Final Rule, requires institutions to:
File CTRs for all cash transactions over $5,000
Maintain risk-based CDD procedures including beneficial ownership identification
Conduct independent testing every six months
Designate a separate sanctions compliance officer
Question 5
What is the key role of the Board of Directors in an AFC risk management program?
Reviewing every SAR before filing
Approving the AFC risk appetite, framework, and receiving periodic reports
Conducting transaction monitoring alert reviews
Managing OFAC screening false positives

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Additional Information

CAMS-RM Practice Questions - ACAMS Certified AFC Risk Manager (formerly Advanced CAMS-RM) Exam

This practice set contains 100 questions from the matching question bank and focuses on risk, inherent, sanctions, typically, and typical. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

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