[2024] CKYCA Actual Exam Dumps, CKYCA Practice Test
GuideTorrent CKYCA dumps & ACAMS Certification sure practice dumps
The Association of Certified Anti Money Laundering Specialists (ACAMS) is a global organization that is dedicated to enhancing the knowledge and skills of professionals who work in the field of anti-money laundering (AML) and financial crime prevention. The ACAMS community is made up of individuals from diverse backgrounds, including law enforcement, government agencies, financial institutions, and private industry. To achieve its mission of promoting AML best practices, ACAMS offers a range of training and certification programs to its members.
The Association of Certified Anti Money Laundering certification exam is designed for professionals who are responsible for anti-money laundering compliance in their organizations, such as compliance officers, attorneys, risk managers, accountants, and law enforcement officials. CKYCA exam is also appropriate for anyone who wishes to demonstrate their knowledge and expertise in the field of anti-money laundering.
NEW QUESTION # 24
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. Yes.
- B. No
- C. Depends on the discretion of the analyst.
Answer: A
NEW QUESTION # 25
In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)
- A. Identification number issued by government.
- B. Address, including legal and place of business.
- C. Source of Funds.
- D. Source of Wealth.
- E. Legal Name.
Answer: A,B,E
NEW QUESTION # 26
What is the advantage of Bearer Shares? (SELECT 3)
- A. They can't be traced to a central registry because whoever carries them is the purported owner.
- B. They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming
- C. They can be held under agreement by professionals as another layer of secrecy.
- D. Tax haven countries and their strict secrecy laws can further conceal the true ownership.
- E. They are a more affordable way of setting up a business in certain countries in the Caribbean.
Answer: A,C,D
NEW QUESTION # 27
CDD encompasses the entire lifecycle of due diligence?
- A. CIP, SDD, EDD.
- B. CIP, CDD, EDD.
- C. CIP, EDD, SDD.
- D. CDD, EDD, SDD.
Answer: A
NEW QUESTION # 28
What is the Primary legislation for Money Laundering in the United States?
- A. Money Laundering and Financial Crimes Strategy Act (1998)
- B. Anti-Drug Abuse Act of 1988
- C. Money Laundering Control Act of 1986
- D. Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act)
- E. Bank Secrecy Act (1970)
Answer: E
NEW QUESTION # 29
A shell company or corporation is a company that, at the time of incorporation, has no significant? (SELECT 2)
- A. Assets.
- B. Funds.
- C. Operations.
- D. Employees.
Answer: A,C
NEW QUESTION # 30
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 # 31
Control activities in financial crime prevention include? (SELECT 3)
- A. Preventative Controls.
- B. Detective Controls.
- C. Incorrect Controls
- D. Corrective controls.
- E. Premeditated Controls
Answer: D
NEW QUESTION # 32
Who is your customer?
- A. only individuals, listed companies, some private companies
- B. individuals, listed companies, private companies, others.
- C. individuals, private companies, dodgy companies, others.
- D. individuals, listed companies, some private companies, others.
Answer: B
NEW QUESTION # 33
If the legal structure is overly complex.
What step should the analyst do when conducting Customer Due Diligence in identifying the beneficial owners?
- A. Escalate, A complex legal structure is a sign of hiding the beneficial owner.
- B. Tread carefully, particularly if they operate in jurisdictions with secrecy la
- C. Continue, Most legal structures can be overly complex in a normal business setting.
Answer: B
NEW QUESTION # 34
Why is Private Banking Higher Risk? (SELECT 2)
- A. Transactions may be confidential.
- B. They use Transactions that attempt to mask true ownership.
- C. They almost exclusively use structures that are on secretive jurisdictions.
- D. They use products which are designed for clients with a greater risk tolerance.
Answer: A,B
NEW QUESTION # 35
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 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 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.
Answer: A
NEW QUESTION # 36
Under a risk based approach is a PEP risk manageable If a customer discloses during the KYC, or Know Your Customer process?
- A. No, PEPs do not need to disclose their status, it is up to the financial institution to find that information out and determine the risk.
- B. Yes, PEPS need bank accounts and access to financial investment products like everyone else.
- C. No, PEPS are do not fit within the risk tolerance of an organization.
- D. Yes, He or she is the spouse of a government official, closely related to the government official
Answer: D
NEW QUESTION # 37
What is a regional risk (SELECT 3)
- A. Port Cities.
- B. High Intensity Financial Crime Areas (HIFCA)
- C. Free Trade Zones.
- D. Global Financial Centers
- E. Lax Immigration Controls.
Answer: A,B,C
NEW QUESTION # 38
What is an example of secondary identification in a customers CIP program? (SELECT 3)
- A. Identification from securities and exchange commission. (SEC)
- B. Identification from a college.
- C. Identification from a utility company.
- D. Identification from another financial institution.
- E. Identification from a registry of secretary of state.
Answer: B,C,D
NEW QUESTION # 39
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. Managing Director.
- C. Chief Compliance Officer.
- D. Chief Operating Officer.
- E. Chief Executive Officer.
Answer: B,D,E
NEW QUESTION # 40
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)
- A. Industry-recognized.
- B. Internal and external consistency.
- C. later publication date.
- D. Reputable and biased.
Answer: A,B
NEW QUESTION # 41
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 # 42
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. Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions.
- C. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a domestic country.
- D. Domestic PEPs are individuals who are or have been entrusted domestically with prominent non-public functions.
Answer: A,B
NEW QUESTION # 43
What is the First Line of Defense? (FLOD)
- 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 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 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.
Answer: C
NEW QUESTION # 44
Most Organizations Use the three risk classifications for customers.
What are they? (SELECT 3)
- A. EDD-High.
- B. Medium.
- C. Low.
- D. High.
- E. Moderate.
- F. Very High.
Answer: B,C,D
NEW QUESTION # 45
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. Yes.
- B. Depends on the client.
- C. No.
Answer: A
NEW QUESTION # 46
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To become certified, candidates must pass a rigorous exam that covers a wide range of topics related to AML, including the regulatory environment, risk assessment, customer due diligence, transaction monitoring, and investigations. CKYCA exam is designed to test candidates' knowledge of AML best practices and their ability to apply that knowledge in real-world situations.
CKYCA Actual Questions and Braindumps: https://www.guidetorrent.com/CKYCA-pdf-free-download.html
Pass CKYCA Exam with Updated CKYCA Exam Dumps PDF 2024: https://drive.google.com/open?id=1Bz0J4EYArYpPyK5-SPacEBPiOLixw5LT