CKYCA PDF Exam Material 2024 Realistic CKYCA Dumps Questions
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NEW QUESTION # 27
What is the Second Line of Defense? (SLOD)
- 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 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.
- C. The ________ line of defense is internal audit. They perform an independent review of the controls applied by the lines of defense.
Answer: B
NEW QUESTION # 28
Financial Institutions include? (SELECT 2)
- A. Insurance Companies.
- B. Broker Dealer.
- C. Companies registered with the SEC.
- D. Pay Day Loan Companies.
Answer: A,B
NEW QUESTION # 29
The four step model is a model designed to?
- A. Improve the quality of your KYC Files.
- B. Improve the quality of the KYC Rule.
- C. Improve the quality of your KYC Program.
- D. Improve the quality of your KYC Research.
Answer: D
NEW QUESTION # 30
Who is your customer?
- A. individuals, private companies, dodgy companies, others.
- B. individuals, listed companies, some private companies, others.
- C. individuals, listed companies, private companies, others.
- D. only individuals, listed companies, some private companies
Answer: C
NEW QUESTION # 31
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 AML Officer.
- B. Chief Operating Officer.
- C. Chief Executive Officer.
- D. Chief Compliance Officer.
- E. Managing Director.
Answer: B,C,E
NEW QUESTION # 32
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 # 33
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 # 34
Control activities in financial crime prevention include? (SELECT 3)
- A. Detective Controls.
- B. Incorrect Controls
- C. Corrective controls.
- D. Preventative Controls.
- E. Premeditated Controls
Answer: C
NEW QUESTION # 35
A shell company or corporation is a company that, at the time of incorporation, has no significant? (SELECT 2)
- A. Assets.
- B. Operations.
- C. Funds.
- D. Employees.
Answer: A,B
NEW QUESTION # 36
What industries are often exploited by criminals (SELECT 3)
- A. Casinos.
- B. Charities Non Profits.
- C. Broker Dealers.
- D. Dealers in high value goods.
- E. Insurance.
Answer: A,B,D
NEW QUESTION # 37
For benefitial ownership, the exact account-opening procedures and customer acceptance policies will depend on the type of? (SELECT 3)
- A. Customer.
- B. Geography.
- C. Local Regulations.
- D. Risk.
- E. Product.
Answer: A,C,D
NEW QUESTION # 38
If you need to reach out to the client for more information and/or verification regarding the Enhanced Due Diligence (EDD) Process. should the KYC employee reach out directly to the client themselves and not the a relationship manager or equivalent.
- A. TRUE.
- B. FALSE.
Answer: B
NEW QUESTION # 39
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. Operational Risk.
- B. Financial Crime Risk.
- C. Channel Risk
- D. Remittance Risk
Answer: C
NEW QUESTION # 40
The minimum level of Customer Due Diligence that is required when opening a new account includes the following? (SELECT 4)
What type of locations is the account going to be transacting with. (Correct)
Why this account is being opened? (Correct)
What type of people does the customer associate with?
- A. What sorts of transactions you should anticipate?
- B. The frequency and expected amounts of those transactions?
Answer: A
NEW QUESTION # 41
The Source of Funds and the Source of Wealth must be? (SELECT 2)
- A. Explained.
- B. Verified.
- C. Consistant.
- D. Provided
Answer: A,B
NEW QUESTION # 42
Shell and Shelf Companies are usually what level of customer risk?
- A. Medium.
- B. Immediately Rejected due to their business profile.
- C. High.
- D. Low.
Answer: C
NEW QUESTION # 43
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. Ripping off
- B. Dripping off
- C. Tipping off
- D. Dipping off
Answer: C
NEW QUESTION # 44
What is the Third Line of Defense? (TLOD)
- A. The ________ line of defense is internal audit. They perform an independent review of the controls applied by the lines of defense.
- 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 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 # 45
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