ACAMS Association of Certified Anti Money Laundering - CKYCA FREE EXAM DUMPS QUESTIONS & ANSWERS]

Question 1

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 Party Prong. B. Control Prong. C. KYC Prong. D. Controlling Prong.

Discussion 0

Correct Answer: B Vote an answer

Question 2

Delivery Channel Risk is associated with? (SELECT 3)

A. Savings accounts B. Concentration accounts C. Deposit accounts D. Payable through accounts. E. Correspondent banks.

Discussion 0

Correct Answer: B,D,E Vote an answer

Question 3

When is Enhanced Due Diligence (EDD) used?

A. if higher risk or difficult to assess. B. Financial Institutions use EDD only when the geographical trigger event. C. Financial Institutions use EDD only when the product trigger event. D. If lower risk of easy to assess.

Discussion 0

Correct Answer: A Vote an answer

Question 4

An onboarded entity's legal form differs from the incorporation documentation provided by the client and the information found in the country's business register. Which action should a KYC analyst take?

A. File a suspicious activity report. B. Use the business register information. C. Reach out to the client to clarity the legal form. D. Use the incorporation documentation provided by the client.

Discussion 0

Correct Answer: C Vote an answer

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Question 5

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

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

Discussion 0

Correct Answer: D Vote an answer

Question 6

What risk increases with non-face-to-face business relationships or transactions, or when payments are sent to or received from unknown or unassociated third parties.

A. Financial Crime Risk. B. Remittance Risk C. Operational Risk. D. Channel Risk

Discussion 0

Correct Answer: D Vote an answer

Question 7

Assets under management show an increase of investors whose income originates from high-risk jurisdictions. This indicates higher risk in which area?

A. Economic B. Customer C. Political D. Geographical

Discussion 0

Correct Answer: D Vote an answer

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