[Apr 21, 2024] Pass CKYCA Review Guide, Reliable CKYCA Test Engine
CKYCA Test Engine Practice Test Questions, Exam Dumps
To qualify for the ACAMS CKYCA certification, individuals are required to have a minimum of three years of experience in AML/CFT or a related field. They must also pass a comprehensive exam that covers a range of topics, including AML/CFT regulations, risk assessment, due diligence, transaction monitoring, and sanctions compliance. CKYCA exam consists of 120 multiple-choice questions, and individuals have four hours to complete it.
NEW QUESTION # 18
Financial Institutions include? (SELECT 2)
- A. Pay Day Loan Companies.
- B. Insurance Companies.
- C. Companies registered with the SEC.
- D. Broker Dealer.
Answer: B,D
NEW QUESTION # 19
What are the two types of Politically Exposed Persons (PEPS) that are identified by The Financial Action Task Force? (SELECT 2)
- A. Domestic PEPs are individuals who are or have been entrusted domestically with prominent non-public functions.
- B. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country.
- C. Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions.
- D. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a domestic country.
Answer: B,C
NEW QUESTION # 20
What is the overall purpose of KYC?
- A. To manage the risk posed by customers.
- B. To manage the risk posed by Terrorist Financing
- C. To manage the risk posed by Money Laundering.
- D. To manage the risk posed by financial services industry.
Answer: A
NEW QUESTION # 21
Non-documentary verification is checking the information the customer provides against? (SELECT 3)
- A. Email confirmation.
- B. Credit reports.
- C. Audited Statements.
- D. Proprietary databases.
- E. Public records.
Answer: B,D,E
NEW QUESTION # 22
A person disclosing to any other person, information or any other matter, which is likely to prejudice a money laundering investigation is known to be?
- A. Tipping off
- B. Dipping off
- C. Ripping off
- D. Dripping off
Answer: A
NEW QUESTION # 23
What is legal risk? (SELECT 2)
- A. An organization breaks laws when doing business.
- B. A warning from a regulator.
- C. An employee who commits a crime unrelated to the organization.
- D. An employee who commits a crime unrelated to the organization.
Answer: A,D
NEW QUESTION # 24
What is the Third Line of Defense? (TLOD)
- A. The ________ line of defense is internal audit. They perform an independent review of the controls applied by the lines of defense.
- B. The _______ line of defense is also known as the front line, these customer-facing employees are best-equipped to get the information you need for your customer due diligence. Can include Operations, risk, and control teams.
- C. The _______ line of defense is the compliance and internal control functions. That includes the chief money laundering reporting officer, or MLRO, in charge of managing and monitoring AML and CFT activities.
Answer: A
NEW QUESTION # 25
If a customer is a PEP and they are using private wealth services from banks, and also appear to have obtained a fair amount of wealth is this a red flag?
- A. Yes.
- B. No.
- C. Depends on the exact circumstances.
Answer: A
NEW QUESTION # 26
Data must be secure so that it cannot be hacked, stolen, or misused for other purposes?
- A. True
- B. False
- C. Depends on the specifics.
Answer: A
NEW QUESTION # 27
Is collecting identification a legal requirement in jurisdictions?
- A. Most.
- B. No.
- C. Yes.
Answer: A
NEW QUESTION # 28
Shell companies can only be established as single purpose entities?
- A. Yes.
- B. No.
Answer: B
NEW QUESTION # 29
In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)
- A. Address, including legal and place of business.
- B. Source of Wealth.
- C. Source of Funds.
- D. Identification number issued by government.
- E. Legal Name.
Answer: A,D,E
NEW QUESTION # 30
Trade finance, which is the provision or credit for domestic and international trade transactions is likely?
- A. Usually a High Risk Product
- B. It depends on the Anti-Money Laundering program.
- C. Usually a Medium Risk Produce.
- D. Usually a Low Risk Product.
Answer: A
NEW QUESTION # 31
The ownership of a legal person is often described as having two prongs. The first one is the beneficial owner, this is the natural or legal person who owns the entity and who benefits from its activities. The second one is called?
- A. Control Party Prong.
- B. KYC Prong.
- C. Control Prong.
- D. Controlling Prong.
Answer: C
NEW QUESTION # 32
Jurisdictions with high risk usually have (SELECT 4)
- A. Poor anti-money laundering regulations.
- B. High levels of corruption
- C. Inadequate regulatory and judicial frameworks to prevent terror financing
- D. Host shell and shelf companies.
- E. Poverty
Answer: A,B,C,D
NEW QUESTION # 33
......
ACAMS CKYCA certification exam is open to professionals who have experience in the field of AML and KYC compliance. Candidates must have a minimum of two years of experience in AML and KYC compliance, and they must also have a bachelor's degree or equivalent. Additionally, candidates must agree to adhere to the ACAMS code of ethics.
100% Free CKYCA Daily Practice Exam With 72 Questions: https://www.actual4cert.com/CKYCA-real-questions.html
CKYCA exam torrent ACAMS study guide: https://drive.google.com/open?id=1QjxTWJ1rTAordjV6THStX8ZClr7u799f