The Carcano M1938 appears briefly in the campaign mission "Operation Husky", but cannot be used by the player. It is later seen once again in the campaign mission "Piano Lupo", in which it can be picked up and used. Ammunition is commonly available in "Piano Lupo", making it a good weapon to pick up, rather than keeping the starting weapons. Like other bolt-action rifles in the game, it will kill an enemy with one shot to the upper body.
A National Archives file photo of the Carcano that was used to assassinate President Kennedy is seen very briefly in the Call of Duty: Black Ops teaser trailer, with the words "Lee Harvey Oswald" in the bottom right corner of the screen. However, it is never actually used, or seen in the final game. It was most likely put in for dramatic effect, because of the speculation of Mason's role in the Kennedy assassination.
The Carcano has a front sight, but its not used when aiming down the rifle's sights, this is the result of the weapon's iron sights being missaligned, like all the other weapons in Call of Duty 2: Big Red One.