[2023] Use Valid New Free CKYCA Exam Dumps & Answers
CKYCA Braindumps PDF, ACAMS CKYCA Exam Cram
ACAMS CKYCA certification is a prestigious and globally recognized credential that demonstrates an individual’s knowledge and expertise in the field of anti-money laundering and financial crime prevention. Association of Certified Anti Money Laundering certification exam covers a broad range of topics and is designed to test the knowledge and skills of professionals who are responsible for implementing and managing AML programs within their organizations. Individuals who hold the CKYCA certification are highly valued by employers in the financial services industry and are well-equipped to effectively manage and mitigate the risks associated with financial crime.
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.
NEW QUESTION # 40
The first step in the CDD of a legal person is to?
- A. Find out what the account will be used for, and the level of activity your organization should expect to see.
- B. Understand the ownership structure and to track back to the ultimate beneficial owners and controllers.
- C. Discover the type of business your customer undertakes.
Answer: B
NEW QUESTION # 41
In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)
- A. Legal Name.
- B. Source of Funds.
- C. Source of Wealth.
- D. Identification number issued by government.
- E. Address, including legal and place of business.
Answer: A,D,E
NEW QUESTION # 42
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)
- A. Industry-recognized.
- B. Internal and external consistency.
- C. later publication date.
- D. Reputable and biased.
Answer: A,B
NEW QUESTION # 43
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 # 44
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 Prong.
- B. KYC Prong.
- C. Controlling Prong.
- D. Control Party Prong.
Answer: A
NEW QUESTION # 45
The Source of Funds and the Source of Wealth must be? (SELECT 2)
- A. Provided
- B. Verified.
- C. Consistant.
- D. Explained.
Answer: B,D
NEW QUESTION # 46
Data must be secure so that it cannot be hacked, stolen, or misused for other purposes?
- A. True
- B. Depends on the specifics.
- C. False
Answer: A
NEW QUESTION # 47
For AML purposes, most jurisdictions require that beneficial ownership be collected at a threshold of (SELECT 2)
- A. 25%
- B. 15%
- C. 10% sometimes for high risk customers
- D. 20%
Answer: A,C
NEW QUESTION # 48
What corporate vehicles can a money launderer hide behind, where it is difficult to identify the beneficial owner? (SELECT 4)
- A. Shell companies.
- B. Regulated investment advisors
- C. Private investment companies.
- D. Sole Proprietors.
- E. Trusts.
Answer: A,C,D,E
NEW QUESTION # 49
What is the advantage of Bearer Shares? (SELECT 3)
- A. Tax haven countries and their strict secrecy laws can further conceal the true ownership.
- B. They can't be traced to a central registry because whoever carries them is the purported owner.
- C. They can be held under agreement by professionals as another layer of secrecy.
- D. They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming
- E. They are a more affordable way of setting up a business in certain countries in the Caribbean.
Answer: A,B,C
NEW QUESTION # 50
What Boolean operator words can be used in for searching in EDD? (SELECT 2)
- A. OR.
- B. PLUS.
- C. AND.
- D. EQUAL.
Answer: A,C
NEW QUESTION # 51
Control activities in financial crime prevention include? (SELECT 3)
- A. Incorrect Controls
- B. Detective Controls.
- C. Preventative Controls.
- D. Corrective controls.
- E. Premeditated Controls
Answer: D
NEW QUESTION # 52
Most Organizations Use the three risk classifications for customers.
What are they? (SELECT 3)
- A. High.
- B. EDD-High.
- C. Low.
- D. Very High.
- E. Medium.
- F. Moderate.
Answer: A,C,E
NEW QUESTION # 53
What a is supranational organization below? (SELECT 3)
- A. World Trade Organization
- B. United Nations
- C. European Union.
- D. Australian Transaction Reports and Analysis Centre.
- E. Singapore's Ministry of Law.
Answer: A,B,C
NEW QUESTION # 54
Is collecting identification a legal requirement in jurisdictions?
- A. Yes.
- B. No.
- C. Most.
Answer: C
NEW QUESTION # 55
A hospitality worker brings deposits items that appear to be made from a cash intensive business. Is this a red flag?
- A. No, the customer profile for the hospitality worker fits their occupation.
- B. It depends on the location, business, and feeling of the employee accepting the deposit.
- C. Yes, anyone who brings that type of currency is likely involved to have received it from illegal means.
Answer: A
NEW QUESTION # 56
What is the Primary Money Laundering Regulation in the United Kingdom?
- A. The Money Laundering and Terrorist Financing (Amendment) Regulation 2019
- B. Proceeds of Crime Act
- C. UK AML Sanctions Regime
- D. Proceeds of Terrorism Act
Answer: A
NEW QUESTION # 57
What are key risks in Financial Crime Prevention Control? (SELECT 3)
- A. Financial.
- B. Insurance.
- C. Regulatory.
- D. Reputational.
Answer: A
NEW QUESTION # 58
What is an example of secondary identification in a customers CIP program? (SELECT 3)
- A. Identification from a registry of secretary of state.
- B. Identification from another financial institution.
- C. Identification from a utility company.
- D. Identification from a college.
- E. Identification from securities and exchange commission. (SEC)
Answer: B,C,D
NEW QUESTION # 59
What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)
- A. Bank Risks.
- B. Litigation Risks.
- C. Political Risks.
- D. Integrity.
- E. Transaction Risks.
Answer: B,C,D
NEW QUESTION # 60
When is Enhanced Due Diligence (EDD) used?
- A. if higher risk or difficult to assess.
- B. If lower risk of easy to assess.
- C. Financial Institutions use EDD only when the product trigger event.
- D. Financial Institutions use EDD only when the geographical trigger event.
Answer: A
NEW QUESTION # 61
Shell companies can only be established as single purpose entities?
- A. Yes.
- B. No.
Answer: B
NEW QUESTION # 62
Who is your customer?
- A. only individuals, listed companies, some private companies
- B. individuals, private companies, dodgy companies, others.
- C. individuals, listed companies, private companies, others.
- D. individuals, listed companies, some private companies, others.
Answer: C
NEW QUESTION # 63
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. False
- B. True.
Answer: B
NEW QUESTION # 64
When is comes to Enhanced Due Diligence (EDD) regulators require you to do a perfect job on the client.
- A. FALSE.
- B. TRUE.
Answer: A
NEW QUESTION # 65
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