Free Sales Ending Soon - Use Real CKYCA PDF Questions [Feb 24, 2024]
Updated Feb-2024 Exam CKYCA Dumps - Pass Your Certification Exam
NEW QUESTION # 28
Financial Institutions include? (SELECT 2)
- A. Companies registered with the SEC.
- B. Insurance Companies.
- C. Broker Dealer.
- D. Pay Day Loan Companies.
Answer: B,C
NEW QUESTION # 29
The four step model is a model designed to?
- A. Improve the quality of your KYC Files.
- B. Improve the quality of your KYC Research.
- C. Improve the quality of the KYC Rule.
- D. Improve the quality of your KYC Program.
Answer: B
NEW QUESTION # 30
If the legal structure is overly complex.
What step should the analyst do when conducting Customer Due Diligence in identifying the beneficial owners?
- A. Continue, Most legal structures can be overly complex in a normal business setting.
- B. Escalate, A complex legal structure is a sign of hiding the beneficial owner.
- C. Tread carefully, particularly if they operate in jurisdictions with secrecy la
Answer: C
NEW QUESTION # 31
For AML purposes, most jurisdictions require that beneficial ownership be collected at a threshold of (SELECT 2)
- A. 15%
- B. 20%
- C. 10% sometimes for high risk customers
- D. 25%
Answer: C,D
NEW QUESTION # 32
Jurisdictions with high risk usually have (SELECT 4)
- A. Inadequate regulatory and judicial frameworks to prevent terror financing
- B. Host shell and shelf companies.
- C. Poverty
- D. Poor anti-money laundering regulations.
- E. High levels of corruption
Answer: A,B,D,E
NEW QUESTION # 33
CDD encompasses the entire lifecycle of due diligence?
- A. CDD, EDD, SDD.
- B. CIP, CDD, EDD.
- C. CIP, SDD, EDD.
- D. CIP, EDD, SDD.
Answer: C
NEW QUESTION # 34
Trade finance, which is the provision or credit for domestic and international trade transactions is likely?
- A. Usually a Low Risk Product.
- B. Usually a High Risk Product
- C. Usually a Medium Risk Produce.
- D. It depends on the Anti-Money Laundering program.
Answer: B
NEW QUESTION # 35
Control activities in financial crime prevention include? (SELECT 3)
- A. Premeditated Controls
- B. Corrective controls.
- C. Preventative Controls.
- D. Detective Controls.
- E. Incorrect Controls
Answer: B
NEW QUESTION # 36
What is the Third Line of Defense? (TLOD)
- A. 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.
- B. The ________ line of defense is internal audit. They perform an independent review of the controls applied by the lines of defense.
- 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: B
NEW QUESTION # 37
For secondary forms of non-documentary verification. Is the act of someone from the institution ringing up the individual and confirming the verification sufficient?
- A. No.
- B. Yes.
- C. Depends on the client.
Answer: B
NEW QUESTION # 38
What is the Primary European Union Money Laundering regulation?
- A. 5th Anti-Money Laundering Directive.
- B. 2nd Anti-Money Laundering Directive.
- C. 4th Anti-Money Laundering Act.
- D. 3rd Anti-Money Laundering Directive
- E. 5th Anti-Money Laundering Act.
Answer: A
NEW QUESTION # 39
Is collecting identification a legal requirement in jurisdictions?
- A. No.
- B. Yes.
- C. Most.
Answer: C
NEW QUESTION # 40
Data must be secure so that it cannot be hacked, stolen, or misused for other purposes?
- A. Depends on the specifics.
- B. False
- C. True
Answer: C
NEW QUESTION # 41
The overall customer risk rating is usually derived as a composite of the following four categories of risk in money laundering prevention.
What are the those four?
- A. Customer, Jurisdiction, Product, and Sub-Channel.
- B. Client, Jurisdiction, Product, and Sub-Channel.
- C. Customer, Jurisdiction, Product, and Channel.
- D. Client, Jurisdiction, Selected Products, and Channel.
Answer: C
NEW QUESTION # 42
Usually, the risk associated with the customer can be higher if the customer is nonresident?
- A. Yes
- B. Depends
- C. No
Answer: A
NEW QUESTION # 43
What is the purpose of having controls to Know Your Customer, also known as KYC?
- A. Manage the financial crime risk to your organization.
- B. Manage the compliance risk of your customer.
- C. Manage the financial crime risk to your customer.
- D. Manage the compliance risk of your organization.
Answer: A
NEW QUESTION # 44
A hospitality worker brings deposits items that appear to be made from a cash intensive business. Is this a red flag?
- A. Yes, anyone who brings that type of currency is likely involved to have received it from illegal means.
- B. It depends on the location, business, and feeling of the employee accepting the deposit.
- C. No, the customer profile for the hospitality worker fits their occupation.
Answer: C
NEW QUESTION # 45
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ACAMS CKYCA exam covers a wide range of topics related to anti-money laundering, including financial crime trends, compliance practices, risk management, and legal and regulatory frameworks. CKYCA exam is designed to test the candidate's knowledge and understanding of these critical areas. CKYCA exam is divided into several sections, each of which covers a specific topic related to anti-money laundering.
Achieving the CKYCA certification is a significant accomplishment that can help professionals advance in their careers and demonstrate their expertise in KYC compliance. CKYCA holders are recognized as leaders in the field and are highly valued by employers who are looking for professionals with a deep understanding of AML and CTF regulations. Additionally, maintaining the CKYCA certification requires ongoing education and training, which ensures that holders stay up-to-date with the latest developments in the field and are always prepared to prevent financial crimes.
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