CAMS — ACAMS Certified Anti-Money Laundering Specialist (CAMS) Study Plan
A practical CAMS study plan for ACAMS Certified Anti-Money Laundering Specialist candidates, with 7-day, 14-day, 30-day, and 60/90-day schedules.
CAMS study plan overview
This independent Study Plan is for candidates preparing for the ACAMS Certified Anti-Money Laundering Specialist (CAMS) exam, exam code CAMS, from ACAMS.
CAMS preparation should focus on applied anti-money laundering judgment, not memorizing isolated definitions. Your schedule should repeatedly cycle through:
- AML and financial crime vocabulary
- Money laundering and terrorist financing methods
- Risk-based controls
- Customer due diligence and enhanced due diligence
- Sanctions, PEPs, beneficial ownership, and high-risk customers
- Transaction monitoring and suspicious activity indicators
- Investigations, reporting, escalation, and documentation
- AML compliance program governance, training, testing, and audit
- International cooperation, regulatory expectations, and law enforcement concepts
Use the longer plans if you are still learning the material. Use the shorter plans if you already know the CAMS content and need structured review, timing practice, and missed-question repair.
Which plan should you use?
| Time until exam | Best fit | Primary goal | Daily time target |
|---|---|---|---|
| 7 days | Final review plan | Confirm readiness, fix weak areas, avoid overload | 2 to 4 hours |
| 14 days | Focused plan | Rebuild high-value topics and practice scenarios | 2 to 3 hours |
| 30 days | Balanced plan | Learn, drill, review, and take timed mocks | 1.5 to 2.5 hours |
| 60 days | Full preparation path | Complete content review with steady practice | 60 to 90 minutes |
| 90 days | Full preparation path | Best for busy schedules or first-time AML learners | 45 to 75 minutes |
Choose the plan based on your actual study hours, not your calendar. A 30-day plan with 20 total study hours is really a compressed review plan. A 14-day plan with 40 focused hours can be enough for an experienced AML professional if practice scores and scenario judgment are strong.
Core CAMS study rhythm
Use this rhythm on most study days, regardless of plan length.
| Block | Time | What to do |
|---|---|---|
| Warm-up retrieval | 10 minutes | Write or recite key terms from memory: CDD, EDD, PEP, beneficial owner, sanctions, SAR/STR concepts, typologies, risk-based approach |
| Topic review | 30 to 60 minutes | Read or review one CAMS topic area with notes focused on decisions, not copying text |
| Scenario practice | 30 to 60 minutes | Answer practice questions or case-style prompts; force yourself to explain the best answer |
| Missed-question review | 20 to 40 minutes | Classify errors, update your error log, and create a short rule to prevent repeat mistakes |
| Final recall | 5 to 10 minutes | Close materials and summarize what you learned in plain language |
For CAMS, the most useful daily question is:
“In this scenario, what should the AML professional do next, document, escalate, verify, monitor, or report?”
Build your CAMS error log
Do not only record the correct answer. Record why you missed the question. CAMS questions often test judgment between two plausible answers.
| Error type | What it means | Fix |
|---|---|---|
| Term confusion | You mixed up concepts such as CDD, EDD, sanctions screening, transaction monitoring, or investigations | Create a short definition and one example |
| Sequence error | You chose the right action at the wrong time | Write the correct workflow: identify, assess, investigate, escalate, document |
| Overreaction | You picked the most severe action before enough review or escalation | Note what evidence is needed first |
| Underreaction | You failed to escalate or document a suspicious pattern | List the red flags that changed the risk level |
| Scenario detail missed | You ignored customer type, geography, product, transaction behavior, or source of funds | Highlight facts before answering |
| Memorization gap | You did not know a core AML concept | Add it to daily recall until it is automatic |
| Best-answer error | More than one answer seemed possible | Write why the credited answer is more complete or risk-based |
Missed-question review method
Use this four-step method after every practice set:
- Re-answer before reading the explanation. Decide what you would choose after a second look.
- Identify the tested concept. Example: PEP risk, beneficial ownership, alert investigation, correspondent banking, sanctions screening, trade-based red flags.
- Write one prevention rule. Example: “If risk increases, consider EDD and documentation before treating the customer as routine.”
- Schedule a retry. Reattempt missed questions after 2 days and again during final review.
Diagnostic practice before choosing intensity
Before starting a plan, take a short diagnostic set under quiet conditions.
| Diagnostic result | What it suggests | Adjustment |
|---|---|---|
| Strong score and clear explanations | You may need final review and timing work | Use 7-day or 14-day plan |
| Mixed score with repeated topic gaps | You need structured rebuild | Use 30-day plan |
| Low score or unfamiliar terminology | You need full content preparation | Use 60/90-day path |
| Good knowledge but slow pace | You need timed sets and decision speed | Add timed practice every other day |
| Many “second-best” misses | You need scenario judgment review | Review explanations deeply, not just answers |
7-day CAMS final review plan
Use this if your exam is one week away. Do not try to relearn everything. Your priorities are recall, judgment, timing, and confidence.
| Day | Main focus | Practice task | Review task |
|---|---|---|---|
| 1 | Diagnostic and triage | Take a timed mixed practice set | Build a ranked weak-topic list |
| 2 | AML foundations and typologies | Drill laundering stages, terrorist financing concepts, red flags, high-risk products and services | Write one-page summary of typologies |
| 3 | CDD, EDD, beneficial ownership, PEPs | Scenario questions on customer risk and onboarding | Create decision rules for when risk increases |
| 4 | Monitoring, investigations, reporting, documentation | Practice alert and suspicious activity scenarios | Review escalation and documentation logic |
| 5 | Compliance program and governance | Drill policies, training, audit/testing, risk assessment, internal controls | Make a governance checklist |
| 6 | Timed mock or large mixed set | Complete a realistic timed session | Review every missed and guessed question |
| 7 | Light final review | Short targeted set only; no heavy new material | Review error log, acronyms, workflows, and rest |
7-day rules
- Stop adding new resources by Day 5.
- On Day 6, prioritize reviewing explanations over taking more questions.
- On Day 7, avoid marathon study. Use short recall sessions.
- If a weak topic appears repeatedly, learn the rule behind it, not just the question wording.
- Keep final notes to 3 to 5 pages maximum.
14-day focused CAMS plan
Use this if you have two weeks and can study most days. This plan is best for candidates with some AML, compliance, audit, banking, fintech, investigations, or financial crime experience.
| Day | Topic focus | Study action | Practice action |
|---|---|---|---|
| 1 | Baseline diagnostic | Take a timed diagnostic set | Categorize misses by topic |
| 2 | Money laundering and terrorist financing methods | Review placement, layering, integration, typologies, red flags | Drill typology scenarios |
| 3 | Risk-based approach | Review enterprise, customer, product, geography, and channel risk concepts | Practice risk-ranking scenarios |
| 4 | CDD and EDD | Review customer identification logic, beneficial ownership concepts, source of funds/source of wealth, high-risk customers | Drill onboarding and review scenarios |
| 5 | PEPs, sanctions, high-risk relationships | Review screening and risk management concepts | Practice “what next?” scenarios |
| 6 | Transaction monitoring | Review alerts, unusual activity, patterns, thresholds, and escalation logic | Drill suspicious activity indicators |
| 7 | Weekly consolidation | Retake missed questions from Days 1 to 6 | Update error log and weak-topic list |
| 8 | Investigations and reporting | Review investigation steps, documentation, escalation, and reporting concepts | Practice case investigation questions |
| 9 | Compliance program | Review internal controls, policies, procedures, training, testing, audit, and governance | Drill compliance program scenarios |
| 10 | International cooperation and regulatory concepts | Review AML bodies, cooperation, information sharing, and regulator-facing vocabulary | Practice terminology and application questions |
| 11 | Mixed timed set | Complete a timed mixed set | Deep review of misses and guesses |
| 12 | Targeted repair | Re-study the two weakest topics | Complete focused drills |
| 13 | Full mock or large timed set | Simulate exam conditions as closely as practical | Review only after completion |
| 14 | Final readiness day | Light recall, error log, workflows | Short confidence set; stop early |
14-day emphasis
Spend more time on scenario review than passive reading. If you get a question right but cannot explain why the other answers are weaker, mark it for review.
30-day balanced CAMS plan
Use this if you want a realistic preparation schedule with time to learn, practice, and correct mistakes. This is the best default plan for many candidates.
30-day weekly structure
| Week | Goal | Main output |
|---|---|---|
| Week 1 | Build AML foundation and vocabulary | Core concept notes and diagnostic error log |
| Week 2 | Master customer risk, monitoring, and investigations | Scenario decision rules |
| Week 3 | Cover compliance program and international/regulatory concepts | Governance and escalation checklists |
| Week 4 | Timed mocks, weak-topic repair, and final review | Readiness scorecard and condensed notes |
Days 1 to 7: foundation and diagnostic
| Day | Focus | Actions |
|---|---|---|
| 1 | Diagnostic | Take a timed diagnostic set; create error log |
| 2 | AML basics | Review money laundering stages, terrorist financing concepts, and common typologies |
| 3 | Red flags | Study customer, transaction, geographic, product, and channel risk indicators |
| 4 | Risk-based approach | Practice risk assessment scenarios and explain risk factors aloud |
| 5 | CDD basics | Review customer identification, expected activity, and customer profile concepts |
| 6 | EDD and high-risk customers | Study PEPs, beneficial ownership concepts, source of funds/source of wealth, high-risk jurisdictions |
| 7 | Consolidation | Mixed practice set; review all missed and guessed questions |
Days 8 to 14: customer risk, monitoring, and investigations
| Day | Focus | Actions |
|---|---|---|
| 8 | Sanctions and screening concepts | Review screening, potential matches, escalation, and documentation concepts |
| 9 | Transaction monitoring | Study alert generation, unusual activity, and pattern recognition |
| 10 | Suspicious activity indicators | Drill case-style red flag questions |
| 11 | Investigation workflow | Review alert review, evidence gathering, decisioning, escalation, and documentation |
| 12 | Reporting concepts | Review suspicious activity reporting concepts and governance around decisions |
| 13 | Case practice | Complete a mixed scenario set focused on monitoring and investigations |
| 14 | Weekly review | Retake missed questions from Days 8 to 13; update decision rules |
Days 15 to 21: compliance program and governance
| Day | Focus | Actions |
|---|---|---|
| 15 | AML compliance program | Review internal controls, policies, procedures, and governance |
| 16 | Training and culture | Study role-based training, accountability, and escalation expectations |
| 17 | Independent testing and audit | Review testing, findings, remediation, and documentation concepts |
| 18 | Risk assessment | Practice enterprise and customer risk assessment scenarios |
| 19 | International and regulatory cooperation | Review AML bodies, information sharing, and law enforcement/regulatory concepts |
| 20 | Mixed timed set | Complete a timed mixed set covering all topics studied so far |
| 21 | Deep review | Spend the full session on missed questions, notes, and weak-topic repair |
Days 22 to 30: mock exams and final review
| Day | Focus | Actions |
|---|---|---|
| 22 | Targeted repair 1 | Re-study weakest topic from mock or timed set |
| 23 | Targeted repair 2 | Re-study second-weakest topic; complete focused drills |
| 24 | Large timed set | Practice pacing and stamina |
| 25 | Explanation review | Review all missed, guessed, and slow questions |
| 26 | Scenario judgment | Practice “best next step” and escalation questions |
| 27 | Full mock or realistic timed session | Simulate exam conditions |
| 28 | Mock review | Convert mistakes into final rules and checklists |
| 29 | Final content pass | Review condensed notes, error log, acronyms, and workflows |
| 30 | Light final day | Short practice only; stop studying early |
60/90-day full CAMS preparation path
Use this if you are new to AML, returning after a long gap, balancing work and family, or want a lower-stress schedule.
How to choose 60 days vs. 90 days
| Situation | Recommended path |
|---|---|
| You work in AML/compliance and know the vocabulary | 60 days |
| You are new to financial crime compliance | 90 days |
| You can study 5 to 6 days per week | 60 days |
| You can study only 3 to 4 days per week | 90 days |
| You need repeated practice to improve scenario judgment | 90 days |
| Your exam date is fixed and close | Use 30-day or 14-day plan instead |
60-day schedule
| Phase | Days | Focus | Practice |
|---|---|---|---|
| Phase 1 | 1 to 10 | AML foundations, typologies, terrorist financing, red flags | Short daily quizzes |
| Phase 2 | 11 to 20 | Risk-based approach, customer risk, CDD, EDD, beneficial ownership, PEPs | Scenario drills |
| Phase 3 | 21 to 30 | Sanctions, high-risk relationships, correspondent banking, trade-based indicators, complex structures | Focused topic sets |
| Phase 4 | 31 to 40 | Transaction monitoring, investigations, escalation, documentation, reporting concepts | Case-style practice |
| Phase 5 | 41 to 48 | AML compliance program, governance, risk assessment, training, audit/testing | Mixed application sets |
| Phase 6 | 49 to 55 | Timed practice and weak-topic repair | Large timed sets and error-log review |
| Phase 7 | 56 to 60 | Final review | Condensed notes, missed-question retakes, light practice |
90-day schedule
| Phase | Days | Focus | Practice |
|---|---|---|---|
| Phase 1 | 1 to 14 | Read the exam outline and build AML vocabulary | Untimed concept checks |
| Phase 2 | 15 to 28 | Money laundering methods, terrorist financing, typologies, and red flags | Short topic drills |
| Phase 3 | 29 to 42 | Customer risk, CDD, EDD, beneficial ownership, PEPs, high-risk customers | Scenario questions |
| Phase 4 | 43 to 56 | Sanctions, screening, transaction monitoring, investigations, reporting, documentation | Case-style practice |
| Phase 5 | 57 to 70 | Compliance program, governance, risk assessment, training, independent testing, audit | Mixed topic sets |
| Phase 6 | 71 to 80 | International cooperation, regulator-facing vocabulary, law enforcement concepts | Terminology and application drills |
| Phase 7 | 81 to 86 | Timed mocks and large mixed sets | Timed review with pacing notes |
| Phase 8 | 87 to 90 | Final review | Error log, checklists, light recall |
Weekly rhythm for 60/90-day plans
| Day type | Activity |
|---|---|
| 3 content days | Review one topic and create short notes |
| 2 practice days | Complete topic or mixed questions |
| 1 review day | Rework missed questions and update error log |
| 1 light day | Flash recall, glossary review, or rest |
If you miss a day, do not double the next day’s reading. Replace the next light day with catch-up and keep the practice schedule intact.
CAMS topics to rotate through
Use this rotation to make sure your plan does not overfocus on familiar areas.
| Topic area | What to know | Practice prompt |
|---|---|---|
| AML foundations | Money laundering stages, terrorist financing concepts, predicate-offense logic, typologies | “What is the suspicious pattern?” |
| Risk-based approach | Customer, product, service, geography, delivery channel, transaction behavior | “Which risk factor changes the control response?” |
| CDD and EDD | Customer profile, expected activity, beneficial ownership concepts, source of funds/source of wealth, ongoing monitoring | “What information is needed before proceeding?” |
| PEPs and high-risk customers | Heightened risk, senior management awareness concepts, ongoing review, documentation | “What makes this relationship higher risk?” |
| Sanctions and screening | Screening logic, potential matches, escalation, false positives, documentation | “What should happen before clearing or escalating?” |
| Transaction monitoring | Alerts, unusual activity, pattern recognition, thresholds, investigative review | “What facts support escalation?” |
| Investigations and reporting | Case review, evidence, escalation, reporting decisions, record of rationale | “What is the next best step?” |
| AML compliance program | Policies, internal controls, training, independent testing, audit, governance | “Which program element failed?” |
| Regulatory and international concepts | Cooperation, information sharing, law enforcement requests, regulator-facing vocabulary | “Who is involved and what is their role?” |
Timed mock exam strategy
Timed mocks are useful only if you review them properly. Do not burn through all practice questions without learning from them.
| Stage | When to use timed mocks | Purpose |
|---|---|---|
| Early diagnostic | First 1 to 3 days of any plan | Identify weak areas and pacing issues |
| Mid-plan timed set | Halfway through 14-day, 30-day, 60-day, or 90-day plan | Test retention under pressure |
| Final mock | 3 to 7 days before exam | Confirm readiness and final repair priorities |
| Final 48 hours | Use short sets only | Maintain confidence and recall |
How to review a mock
For every missed or guessed question, write:
- The topic tested
- The key fact in the question stem
- Why the correct answer is best
- Why your answer was weaker
- The rule you will apply next time
For CAMS, review guessed correct answers too. A lucky answer can hide a weak decision rule.
Final-week rules
During the final week, your goal is to reduce uncertainty, not expand your study universe.
Stop adding new material
Stop adding new resources when:
- You are within 3 to 5 days of the exam
- You have not reviewed your existing missed questions
- New materials are creating conflicting wording or anxiety
- You are reading more than practicing
- Your notes are growing instead of becoming simpler
Final-week checklist
| Task | Complete? |
|---|---|
| Retook missed questions from the last two weeks | |
| Reviewed all guessed questions | |
| Can explain the risk-based approach in plain language | |
| Can distinguish CDD, EDD, monitoring, investigation, and reporting concepts | |
| Can identify red flags across customer, transaction, geography, product, and channel risk | |
| Can explain why documentation matters in AML decision-making | |
| Can choose the best next step in case scenarios | |
| Can complete timed sets without rushing at the end | |
| Have a short final review sheet instead of a large pile of notes |
Exam-readiness checks
You are likely ready when most of these are true:
| Readiness signal | What it means |
|---|---|
| You can explain answers without looking at explanations | Your understanding is transferable |
| Your misses are scattered, not concentrated in one major topic | No single area is dominating your risk |
| You recognize red flags quickly | Scenario judgment is improving |
| You know when to escalate, document, monitor, or investigate | You are thinking like an AML professional |
| You are comfortable with timed mixed sets | Exam-day pacing risk is lower |
| Your error log is shrinking | You are not repeating the same mistakes |
You are not ready yet if:
- You repeatedly miss CDD/EDD and customer-risk questions
- You confuse screening, monitoring, investigation, and reporting steps
- You rely on memorized wording instead of scenario logic
- You skip explanation review
- You change correct answers frequently without a clear reason
Practical next step
Start with a timed diagnostic practice set, then choose the shortest plan that still gives you enough time to review every missed and guessed question. For CAMS, the highest-value work is not taking more questions; it is turning each missed scenario into a clear AML decision rule you can apply on exam day.