ACAMS Study Schedule

The questions people ask me the most are how long I studied, how I studied and the method I took the class.

My preference was an instructor-led class, which was held every week for 2 hours for six weeks. It cost a couple hundred dollars extra for the instructor-led, however, I felt it was valuable. The instructors keep you accountable with homework assignments and advise you on what subjects to spend the most time studying based on the number of times it shows up on the CAMS exam.

You are asking what those subjects are, aren't you?

No worries. I was just about to tell you.

  • Dates of implementation for EU (i.e. European Union) and FATF (i.e. Financial Action Task Force)
  • Know the 40 recommendations (yes, all of them)
  • Be familiar on the components of a sound AML program

The study process that worked for me:

  • Read each chapter from study guide
  • Read presentation slides
  • Read practice questions
  • Test each chapter by flash cards
  • Take online course per chapter
  • Take knowledge quiz
  • Test each chapter by flash cards
    • The flash cards were extremely beneficial for studying as it puts you in the scenario.
Keep taking the tests until 90% is obtained
Based on the chapters in the study guide being lengthy, I reviewed half a chapter each night, and then studied presentation slides and flashcards the rest of the time. I studied 2.5 hours per night and brought my notebook with additional notes to work to study during lunch. I was determined.
I gave myself six weeks to study. The instructors even advised that 4 to 6 weeks is sufficient time to study prior to scheduling the exam. I do happen to agree with that.
When studying the flash cards, it is beneficial to have separate sections dictated as:
  • Complete answer
  • Partial answer
  • Incomplete answer

Continue studying the flash cards until partial and incomplete answer become the complete answer.

It is important to know every section very well because it is unknown what questions will come up--especially since questions with multiple selection answers come up extensively.

With this flash card studying method, not being as knowledgeable on specific sections can be avoided.

This method worked for me, and I am pleased to state that I passed the CAMS on my first attempt. I wish you are just as successful.

Kai Yaniz, MBA, CAMS