CKYCA Dumps PDF - CKYCA Real Exam Questions Answers
Get Started: CKYCA Exam [2024] Dumps ACAMS PDF Questions
To be eligible to take the CKYCA exam, candidates must have at least one year of experience working in a KYC-related role. Candidates who pass the exam will earn the CKYCA certification, which is recognized as a mark of excellence in the AML industry. In addition to demonstrating their knowledge and skills to potential employers or clients, CKYCA holders also gain access to ACAMS resources and networking opportunities.
NEW QUESTION # 38
Shell companies can only be established as single purpose entities?
- A. No.
- B. Yes.
Answer: A
NEW QUESTION # 39
What is the Primary European Union Money Laundering regulation?
- A. 5th Anti-Money Laundering Directive.
- B. 5th Anti-Money Laundering Act.
- C. 2nd Anti-Money Laundering Directive.
- D. 3rd Anti-Money Laundering Directive
- E. 4th Anti-Money Laundering Act.
Answer: A
NEW QUESTION # 40
The five components of the internal control framework are the overall control environment are risk assessment, control activities, communication, regulations, quality assurance?
- A. No.
- B. Yes.
Answer: A
NEW QUESTION # 41
Financial Institutions include? (SELECT 2)
- A. Broker Dealer.
- B. Insurance Companies.
- C. Pay Day Loan Companies.
- D. Companies registered with the SEC.
Answer: A,B
NEW QUESTION # 42
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)
- A. later publication date.
- B. Internal and external consistency.
- C. Industry-recognized.
- D. Reputable and biased.
Answer: B,C
NEW QUESTION # 43
The overall control environment is the set of _________
- A. standards, processes, and structures that provide the basis for carrying out internal control across the organization.
- B. standards, processes, and structures that provide the basis for carrying out external control across the organization.
- C. risk standards, processes, and structures that provide the basis for carrying out internal control across the organization.
Answer: A
NEW QUESTION # 44
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 # 45
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. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a domestic country.
- D. Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions.
Answer: B,D
NEW QUESTION # 46
Under a risk based approach is a PEP risk manageable If a customer discloses during the KYC, or Know Your Customer process?
- A. Yes, He or she is the spouse of a government official, closely related to the government official
- B. Yes, PEPS need bank accounts and access to financial investment products like everyone else.
- C. No, PEPs do not need to disclose their status, it is up to the financial institution to find that information out and determine the risk.
- D. No, PEPS are do not fit within the risk tolerance of an organization.
Answer: A
NEW QUESTION # 47
Trade finance, which is the provision or credit for domestic and international trade transactions is likely?
- A. It depends on the Anti-Money Laundering program.
- B. Usually a Low Risk Product.
- C. Usually a Medium Risk Produce.
- D. Usually a High Risk Product
Answer: D
NEW QUESTION # 48
Who will review KYC files to determine whether you are complying with your jurisdiction's laws and regulations
- A. Compliance
- B. The KYC Analyst
- C. Law Enforcement
- D. Regulators
Answer: D
NEW QUESTION # 49
What is the advantage of Bearer Shares? (SELECT 3)
- A. They are a more affordable way of setting up a business in certain countries in the Caribbean.
- B. They can be held under agreement by professionals as another layer of secrecy.
- C. They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming
- D. Tax haven countries and their strict secrecy laws can further conceal the true ownership.
- E. They can't be traced to a central registry because whoever carries them is the purported owner.
Answer: B,D,E
NEW QUESTION # 50
What is legal risk? (SELECT 2)
- A. A warning from a regulator.
- B. An employee who commits a crime unrelated to the organization.
- C. An employee who commits a crime unrelated to the organization.
- D. An organization breaks laws when doing business.
Answer: C,D
NEW QUESTION # 51
Why is Private Banking Higher Risk? (SELECT 2)
- A. Transactions may be confidential.
- B. They almost exclusively use structures that are on secretive jurisdictions.
- C. They use products which are designed for clients with a greater risk tolerance.
- D. They use Transactions that attempt to mask true ownership.
Answer: A,D
NEW QUESTION # 52
Non-documentary verification is checking the information the customer provides against? (SELECT 3)
- A. Proprietary databases.
- B. Audited Statements.
- C. Email confirmation.
- D. Credit reports.
- E. Public records.
Answer: A,D,E
NEW QUESTION # 53
What Boolean operator words can be used in for searching in EDD? (SELECT 2)
- A. OR.
- B. EQUAL.
- C. PLUS.
- D. AND.
Answer: A,D
NEW QUESTION # 54
If an organization suspects that a customer is laundering money, or committing other types of financial crime, it has a duty to report it to the authorities? (TRUE OR FALSE)
- A. True.
- B. False
Answer: A
NEW QUESTION # 55
For benefitial ownership, the exact account-opening procedures and customer acceptance policies will depend on the type of? (SELECT 3)
- A. Customer.
- B. Risk.
- C. Local Regulations.
- D. Geography.
- E. Product.
Answer: A,B,C
NEW QUESTION # 56
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ACAMS CKYCA (Association of Certified Anti Money Laundering) exam is a globally recognized certification program designed for professionals working in the anti-money laundering (AML) field. Association of Certified Anti Money Laundering certification program is designed to help individuals enhance their knowledge and skills in the field of AML compliance and financial crime prevention. Association of Certified Anti Money Laundering certification is recognized by financial institutions, regulators, and law enforcement agencies worldwide, making it a valuable asset for professionals working in the AML field.
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