Latest [Dec 28, 2023] CKYCA Exam with Accurate Association of Certified Anti Money Laundering PDF Questions
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Once a candidate has passed the ACAMS CKYCA exam, they will be awarded the certification and will be recognized as an expert in the field of anti-money laundering. Association of Certified Anti Money Laundering certification is valid for three years, after which the candidate must complete continuing education to maintain their certification. Association of Certified Anti Money Laundering certification is highly valued by employers in the financial industry and can lead to career advancement opportunities.
NEW QUESTION # 35
Control activities in financial crime prevention include? (SELECT 3)
- A. Detective Controls.
- B. Premeditated Controls
- C. Incorrect Controls
- D. Corrective controls.
- E. Preventative Controls.
Answer: D
NEW QUESTION # 36
What industries are often exploited by criminals (SELECT 3)
- A. Charities Non Profits.
- B. Casinos.
- C. Insurance.
- D. Broker Dealers.
- E. Dealers in high value goods.
Answer: A,B,E
NEW QUESTION # 37
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,C
NEW QUESTION # 38
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)
- A. later publication date.
- B. Industry-recognized.
- C. Reputable and biased.
- D. Internal and external consistency.
Answer: B,D
NEW QUESTION # 39
Delivery Channel Risk is associated with? (SELECT 3)
- A. Payable through accounts.
- B. Savings accounts
- C. Deposit accounts
- D. Correspondent banks.
- E. Concentration accounts
Answer: A,D,E
NEW QUESTION # 40
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. Depends on the exact circumstances.
- C. No.
Answer: A
NEW QUESTION # 41
What is the First Line of Defense? (FLOD)
- 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: A
NEW QUESTION # 42
What is a regional risk (SELECT 3)
- A. Free Trade Zones.
- B. Port Cities.
- C. Global Financial Centers
- D. Lax Immigration Controls.
- E. High Intensity Financial Crime Areas (HIFCA)
Answer: A,B,E
NEW QUESTION # 43
Shell companies can only be established as single purpose entities?
- A. No.
- B. Yes.
Answer: A
NEW QUESTION # 44
The four step model is a model designed to?
- A. Improve the quality of your KYC Research.
- B. Improve the quality of your KYC Program.
- C. Improve the quality of the KYC Rule.
- D. Improve the quality of your KYC Files.
Answer: A
NEW QUESTION # 45
The KYC four step research is?
- A. Assess, Organize, Explore, Past
- B. Assess, Operations, Explore, Present
- C. Assess, Organize, Narrow, Present
- D. Assess, Organize, Explore, Present
Answer: D
NEW QUESTION # 46
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. Yes.
- B. No.
- C. Depends on the client.
Answer: A
NEW QUESTION # 47
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 Funds.
- C. Identification number issued by government.
- D. Legal Name.
- E. Source of Wealth.
Answer: A,C,D
NEW QUESTION # 48
What is the Third Line of Defense? (TLOD)
- A. 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.
- 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 internal audit. They perform an independent review of the controls applied by the lines of defense.
Answer: C
NEW QUESTION # 49
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 # 50
Who will review KYC files to determine whether you are complying with your jurisdiction's laws and regulations
- A. Regulators
- B. The KYC Analyst
- C. Law Enforcement
- D. Compliance
Answer: A
NEW QUESTION # 51
CDD encompasses the entire lifecycle of due diligence?
- A. CIP, CDD, EDD.
- B. CIP, EDD, SDD.
- C. CDD, EDD, SDD.
- D. CIP, SDD, EDD.
Answer: D
NEW QUESTION # 52
What corporate vehicles can a money launderer hide behind, where it is difficult to identify the beneficial owner? (SELECT 4)
- A. Sole Proprietors.
- B. Private investment companies.
- C. Regulated investment advisors
- D. Trusts.
- E. Shell companies.
Answer: A,B,D,E
NEW QUESTION # 53
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. Discover the type of business your customer undertakes.
- C. Understand the ownership structure and to track back to the ultimate beneficial owners and controllers.
Answer: C
NEW QUESTION # 54
Which documents rates countries based on their money laundering controls and corruption? (SELECT 2)
- A. United Nations report on Money Laundering Controls
- B. Transparency International's Corruption Perceptions Index
- C. Financial Action Task Forces red flags related to jurisdiction risk
- D. Transparency International's Corruption Perceptions Index
- E. US State Department's annual International Narcotics Control Strategy Report
Answer: B,E
NEW QUESTION # 55
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