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ACAMS CKYCA exam is an internationally recognized certification, and it is a reflection of an individual's commitment to maintaining a high level of professionalism, ethics, and integrity in their work. Possession of this certification can open up a world of opportunities for financial professionals and can contribute to the growth and success of their organization. With the increasing global concern surrounding money laundering activities, the need for certified AML experts is greater than ever, making it an excellent opportunity for financial professionals to set themselves apart in a competitive market.

 

NEW QUESTION # 41
In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)

• A. Source of Wealth.
• B. Legal Name.
• C. Source of Funds.
• D. Address, including legal and place of business.
• E. Identification number issued by government.

Answer: B,D,E

NEW QUESTION # 42
What is the Primary Money Laundering Regulation in the United Kingdom?

• A. The Money Laundering and Terrorist Financing (Amendment) Regulation 2019
• B. Proceeds of Terrorism Act
• C. Proceeds of Crime Act
• D. UK AML Sanctions Regime

Answer: A

NEW QUESTION # 43
Is collecting identification a legal requirement in jurisdictions?

• A. Yes.
• B. Most.
• C. No.

Answer: B

NEW QUESTION # 44
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 # 45
The four step model is a model designed to?

• A. Improve the quality of the KYC Rule.
• B. Improve the quality of your KYC Program.
• C. Improve the quality of your KYC Files.
• D. Improve the quality of your KYC Research.

Answer: D

NEW QUESTION # 46
What is the purpose of having controls to Know Your Customer, also known as KYC?

• A. Manage the compliance risk of your organization.
• B. Manage the financial crime risk to your customer.
• C. Manage the financial crime risk to your organization.
• D. Manage the compliance risk of your customer.

Answer: C

NEW QUESTION # 47
Who is your customer?

• A. only individuals, listed companies, some private companies
• B. individuals, listed companies, some private companies, others.
• C. individuals, listed companies, private companies, others.
• D. individuals, private companies, dodgy companies, others.

Answer: C

NEW QUESTION # 48
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 # 49
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)

• A. Reputable and biased.
• B. later publication date.
• C. Internal and external consistency.
• D. Industry-recognized.

Answer: C,D

NEW QUESTION # 50
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 # 51
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 # 52
What industries are often exploited by criminals (SELECT 3)

• A. Dealers in high value goods.
• B. Charities Non Profits.
• C. Broker Dealers.
• D. Casinos.
• E. Insurance.

Answer: A,B,D

NEW QUESTION # 53
Who will review KYC files to determine whether you are complying with your jurisdiction's laws and regulations

• A. Law Enforcement
• B. Compliance
• C. The KYC Analyst
• D. Regulators

Answer: D

NEW QUESTION # 54
The KYC four step research is?

• A. Assess, Organize, Narrow, Present
• B. Assess, Organize, Explore, Present
• C. Assess, Operations, Explore, Present
• D. Assess, Organize, Explore, Past

Answer: B

NEW QUESTION # 55
What is the Primary European Union Money Laundering regulation?

• A. 5th Anti-Money Laundering Act.
• B. 3rd Anti-Money Laundering Directive
• C. 4th Anti-Money Laundering Act.
• D. 2nd Anti-Money Laundering Directive.
• E. 5th Anti-Money Laundering Directive.

Answer: E

NEW QUESTION # 56
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. Dipping off
• B. Ripping off
• C. Tipping off
• D. Dripping off

Answer: C

NEW QUESTION # 57
Most Organizations Use the three risk classifications for customers.
What are they? (SELECT 3)

• A. High.
• B. Low.
• C. Medium.
• D. Moderate.
• E. EDD-High.
• F. Very High.

Answer: A,B,C

NEW QUESTION # 58
Although you might find all the information you gathered throughout your research to be interesting, should include only relevant information in your final report?

• A. Depends on the discretion of the analyst.
• B. Yes.
• C. No

Answer: B

NEW QUESTION # 59
For the second prong, the control prong, an organization must collect the identity of one person who exercises control over the company.
Which below are deemed acceptable? (SELECT 3)

• A. Chief Executive Officer.
• B. Chief Operating Officer.
• C. Managing Director.
• D. Chief Compliance Officer.
• E. Chief AML Officer.

Answer: A,B,C

NEW QUESTION # 60
What are key risks in Financial Crime Prevention Control? (SELECT 3)

• A. Reputational.
• B. Regulatory.
• C. Financial.
• D. Insurance.

Answer: C

NEW QUESTION # 61
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 # 62
What a is supranational organization below? (SELECT 3)

• A. World Trade Organization
• B. Australian Transaction Reports and Analysis Centre.
• C. European Union.
• D. United Nations
• E. Singapore's Ministry of Law.

Answer: A,C,D

NEW QUESTION # 63
The European Union developed its 5th Money Laundering Directive based in part on the following? (SELECT 3)

• A. The Panama Papers leaks, which identified the extent to which offshore accounts are used to disguise beneficial ownership.
• B. A significant change in terrorist attacks in Europe over the previous five years.
• C. The adoption of cryptocurrencies and other digital channels for money laundering, which are currently unregulated sectors.
• D. The exit of Britain from the European Regulatory System.
• E. Money Laundering and Financial Crime were deemed by the European Parliament and local committees as to be out of control in countries such as Andorra, Lichtenstein, and Tunisia.

Answer: A,B,C

NEW QUESTION # 64
What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)

• A. Integrity.
• B. Bank Risks.
• C. Political Risks.
• D. Litigation Risks.
• E. Transaction Risks.

Answer: A,C,D

NEW QUESTION # 65
What is the Primary legislation for Money Laundering in the United States?

• A. Bank Secrecy Act (1970)
• B. Money Laundering and Financial Crimes Strategy Act (1998)
• C. Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act)
• D. Money Laundering Control Act of 1986
• E. Anti-Drug Abuse Act of 1988

Answer: A

NEW QUESTION # 66
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ACAMS CKYCA certification is a valuable asset to individuals in the AML and financial crime prevention field. It provides professionals with the necessary skills and knowledge to effectively combat financial crimes and is recognized globally. CKYCA exam is rigorous and requires extensive preparation, but passing the exam is a testament to an individual's commitment to the AML and financial crime prevention profession.

 

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