Pass ACAMS CKYCA Exam With Practice Test Questions Dumps Bundle [Q18-Q41]

Q18. The five components of the internal control framework are the overall control environment are risk assessment, control activities, communication, regulations, quality assurance?

Q19. 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.

Q20. What is the overall purpose of KYC?

Q21. Why is Private Banking Higher Risk? (SELECT 2)

Q22. What corporate vehicles can a money launderer hide behind, where it is difficult to identify the beneficial owner? (SELECT 4)

Q23. Secondary identification is often used to cross-verify the primary form of identification and to cross-verify information provided by the customer.
What is an example of secondary identification? (SELECT 2)

Q24. Who is your customer?

Q25. Under a risk based approach is a PEP risk manageable If a customer discloses during the KYC, or Know Your Customer process?

Q26. What industries are often exploited by criminals (SELECT 3)

Q27. In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)

Q28. For benefitial ownership, the exact account-opening procedures and customer acceptance policies will depend on the type of? (SELECT 3)

Q29. Why can Trusts pose a higher risk from a financial crime perspective?

Q30. 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.

Q31. Most Organizations Use the three risk classifications for customers.
What are they? (SELECT 3)

Q32. Jurisdictions with high risk usually have (SELECT 4)

Q33. Which documents rates countries based on their money laundering controls and corruption? (SELECT 2)

Q34. If the legal structure is overly complex.
What step should the analyst do when conducting Customer Due Diligence in identifying the beneficial owners?

Q35. For AML purposes, most jurisdictions require that beneficial ownership be collected at a threshold of (SELECT 2)

Q36. An individual customer with a regular job and a salary opening a savings account would be?

Q37. Data must be secure so that it cannot be hacked, stolen, or misused for other purposes?

Q38. CDD encompasses the entire lifecycle of due diligence?

Q39. KYC does not end after on-boarding a customer. (TRUE OR FALSE)

Q40. For secondary forms of non-documentary verification. Is the act of someone from the institution ringing up the individual and confirming the verification sufficient?

Q41. 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?