Get Ready to Pass the CKYCA exam with ACAMS Latest Practice Exam [Q33-Q53]

Get Ready to Pass the CKYCA exam with ACAMS Latest Practice Exam

Get Prepared for Your CKYCA Exam With Actual ACAMS Study Guide!

The ACAMS CKYCA Exam covers a wide range of topics, including AML and CTF regulations, risk assessment and management, customer due diligence, transaction monitoring, and investigations. The exam is administered online and consists of 120 multiple-choice questions, which must be completed within three hours. The passing score for the exam is 75%, and individuals who successfully pass the exam will earn the Certified KYC/AML Compliance Officer (CKYCA) designation. This designation is valid for three years, after which individuals must complete continuing education courses to maintain their certification. Overall, the ACAMS CKYCA Exam is a rigorous and comprehensive test of AML and CTF knowledge, and is an important credential for individuals seeking to advance their careers in the AML and CTF field.

 

NEW QUESTION # 33
What are the two types of Politically Exposed Persons (PEPS) that are identified by The Financial Action Task Force? (SELECT 2)

• A. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country.
• B. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a domestic country.
• C. Domestic PEPs are individuals who are or have been entrusted domestically with prominent non-public functions.
• D. Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions.

Answer: A,D

NEW QUESTION # 34
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 # 35
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. Depends on the client.
• B. Yes.
• C. No.

Answer: B

NEW QUESTION # 36
The overall control environment is the set of _________

• A. standards, processes, and structures that provide the basis for carrying out external control across the organization.
• B. standards, processes, and structures that provide the basis for carrying out internal control across the organization.
• C. risk standards, processes, and structures that provide the basis for carrying out internal control across the organization.

Answer: B

NEW QUESTION # 37
An individual customer with a regular job and a salary opening a savings account would be?

• A. Unable to determine with that information.
• B. Medium Risk.
• C. Low Risk.
• D. High Risk.

Answer: C

NEW QUESTION # 38
What is the Primary Money Laundering Regulation in the United Kingdom?

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

Answer: C

NEW QUESTION # 39
Shell and Shelf Companies are usually what level of customer risk?

• A. Immediately Rejected due to their business profile.
• B. High.
• C. Medium.
• D. Low.

Answer: B

NEW QUESTION # 40
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 # 41
Why is Private Banking Higher Risk? (SELECT 2)

• A. They almost exclusively use structures that are on secretive jurisdictions.
• B. They use products which are designed for clients with a greater risk tolerance.
• C. Transactions may be confidential.
• D. They use Transactions that attempt to mask true ownership.

Answer: C,D

NEW QUESTION # 42
What industries are often exploited by criminals (SELECT 3)

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

Answer: A,B,E

NEW QUESTION # 43
A hospitality worker brings deposits items that appear to be made from a cash intensive business. Is this a red flag?

• A. It depends on the location, business, and feeling of the employee accepting the deposit.
• B. No, the customer profile for the hospitality worker fits their occupation.
• C. Yes, anyone who brings that type of currency is likely involved to have received it from illegal means.

Answer: B

NEW QUESTION # 44
What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)

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

Answer: A,C,E

NEW QUESTION # 45
What is the Primary European Union Money Laundering regulation?

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

Answer: D

NEW QUESTION # 46
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 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: A

NEW QUESTION # 47
Non-documentary verification is checking the information the customer provides against? (SELECT 3)

• A. Audited Statements.
• B. Email confirmation.
• C. Proprietary databases.
• D. Credit reports.
• E. Public records.

Answer: C,D,E

NEW QUESTION # 48
For AML purposes, most jurisdictions require that beneficial ownership be collected at a threshold of (SELECT 2)

• A. 20%
• B. 25%
• C. 10% sometimes for high risk customers
• D. 15%

Answer: B,C

NEW QUESTION # 49
The overall customer risk rating is usually derived as a composite of the following four categories of risk in money laundering prevention.
What are the those four?

• A. Customer, Jurisdiction, Product, and Sub-Channel.
• B. Client, Jurisdiction, Product, and Sub-Channel.
• C. Client, Jurisdiction, Selected Products, and Channel.
• D. Customer, Jurisdiction, Product, and Channel.

Answer: D

NEW QUESTION # 50
Jurisdictions with high risk usually have (SELECT 4)

• A. High levels of corruption
• B. Poor anti-money laundering regulations.
• C. Poverty
• D. Host shell and shelf companies.
• E. Inadequate regulatory and judicial frameworks to prevent terror financing

Answer: A,B,D,E

NEW QUESTION # 51
A shell company or corporation is a company that, at the time of incorporation, has no significant? (SELECT 2)

• A. Employees.
• B. Operations.
• C. Funds.
• D. Assets.

Answer: B,D

NEW QUESTION # 52
What a is supranational organization below? (SELECT 3)

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

Answer: A,C,D

NEW QUESTION # 53
......

Pass Your Next CKYCA Certification Exam Easily & Hassle Free: https://www.exam4free.com/CKYCA-valid-dumps.html

Free ACAMS CKYCA Exam Question Practice Exams: https://drive.google.com/open?id=17DYI6aVCQQHlDIesPhjJDJEiYZA8mfvV