My experience with ACAMS v7 exam after passing it today
I passed the ACAMS v7+ exam and wanted to share my experience because I was desperately looking for recent feedback before taking it myself.
~2 years AML experience at a large EU bank
I originally did the standard prep required to access the Exam Simulator around 4 months ago.
Then completely procrastinated and realized my exam eligibility expired today. 😅 Ended up doing ~48h of intense Exam Simulator prep right before the exam.
Topics that came up a LOT for me:
- Law enforcement cooperation & PPPs (Public-Private Partnerships)
- AI / AFC tools & technology
- Firm-wide AML programs and Risk assessments
- Other financial crime risks beyond classic AML, e.g., Tax evasion, Bribery & corruption
- Trust & company service providers (TCSPs)
- Risks re. Accounting professionals & intermediaries
- Crypto-related questions
- UBO-related scenarios
What surprised me is that relatively little on sanctions compared to what I expected and I observed when doing the Exam Simulator.
As the v7+ do focus on practical/risk-based decision making than memorization, I recommend to really understand the topics.
The Exam Simulator is honestly enough to pass, I found learning using Udemy courses or Examtopics not really necessary. BUT I would strongly recommend at least reviewing the Study Guide sections for the topics above beforehand.
The simulator helps a lot with understanding the wording and logic of the questions. You do NOT need to know every single detail to pass. If you understand the core AML principles and can think through scenarios logically, the exam is definitely manageable.
Also pay close attention to the wording. I felt like many answer options were right, but the “correct” ACAMS answer is often the one that is (based on the question asked): risk-based, efficient, practical, and not overly extreme/radical.
Hope this helps someone panicking before their exam like I was. 😄