Аннотация:Results are reported for narrow-band photoelectric photometry of AM Her performed at wavelengths of 4795 and 6320 A in the continuum, as well as in the H-alpha and He II 4686-A emission lines. A pronounced irregular variability in the continuum intensity with a characteristic time of about 1 min and an amplitude of up to approximately 0.2 mag is observed, along with a lag of roughly 0.05 phase between the times of minimum in the 6320-A and 4795-A continuum regions. It is suggested that the chief contribution to the line emission and an appreciable contribution to the continuum intensity at 4795 A during the epoch of the observations came from a hot spot on an accretion structure around the degenerate component, that the observed secondary minimum in the 6320-A continuum region could be interpreted as an eclipse in which the part of the normal star heated by the X-rays is occulted by the accretion structure around the degenerate component, and that the radius of the accretion structure might be comparable to the size of the degenerate component's Roche lobe (200,000 to 400,000 km).