CKYCA Dumps PDF 2024 Program Your Preparation EXAM SUCCESS
Get Perfect Results with Premium CKYCA Dumps Updated 72 Questions
ACAMS CKYCA or the Association of Certified Anti Money Laundering Specialists Certified Know Your Customer Associate is a globally recognized certification program designed for professionals who work in the field of anti-money laundering (AML) and know your customer (KYC) compliance. Association of Certified Anti Money Laundering certification program is designed to equip professionals with advanced knowledge and skills to identify and prevent money laundering activities in their respective organizations.
NEW QUESTION # 29
What is the Primary Money Laundering Regulation in the United Kingdom?
- A. Proceeds of Terrorism Act
- B. Proceeds of Crime Act
- C. UK AML Sanctions Regime
- D. The Money Laundering and Terrorist Financing (Amendment) Regulation 2019
Answer: D
NEW QUESTION # 30
Non-documentary verification is checking the information the customer provides against? (SELECT 3)
- A. Credit reports.
- B. Proprietary databases.
- C. Public records.
- D. Audited Statements.
- E. Email confirmation.
Answer: A,B,C
NEW QUESTION # 31
CDD encompasses the entire lifecycle of due diligence?
- A. CIP, SDD, EDD.
- B. CIP, EDD, SDD.
- C. CDD, EDD, SDD.
- D. CIP, CDD, EDD.
Answer: A
NEW QUESTION # 32
Jurisdictions with high risk usually have (SELECT 4)
- A. Host shell and shelf companies.
- B. Inadequate regulatory and judicial frameworks to prevent terror financing
- C. Poor anti-money laundering regulations.
- D. High levels of corruption
- E. Poverty
Answer: A,B,C,D
NEW QUESTION # 33
For benefitial ownership, the exact account-opening procedures and customer acceptance policies will depend on the type of? (SELECT 3)
- A. Geography.
- B. Product.
- C. Customer.
- D. Local Regulations.
- E. Risk.
Answer: C,D,E
NEW QUESTION # 34
What is the Second Line of Defense? (SLOD)
- A. 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.
- 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 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 # 35
Who is your customer?
- A. individuals, listed companies, private companies, others.
- B. only individuals, listed companies, some private companies
- C. individuals, private companies, dodgy companies, others.
- D. individuals, listed companies, some private companies, others.
Answer: A
NEW QUESTION # 36
What is the overall purpose of KYC?
- A. To manage the risk posed by customers.
- B. To manage the risk posed by Money Laundering.
- C. To manage the risk posed by Terrorist Financing
- D. To manage the risk posed by financial services industry.
Answer: A
NEW QUESTION # 37
KYC does not end after on-boarding a customer. (TRUE OR FALSE)
- A. True.
- B. False.
Answer: A
NEW QUESTION # 38
When is Enhanced Due Diligence (EDD) used?
- A. Financial Institutions use EDD only when the product trigger event.
- B. Financial Institutions use EDD only when the geographical trigger event.
- C. If lower risk of easy to assess.
- D. if higher risk or difficult to assess.
Answer: D
NEW QUESTION # 39
The overall control environment is the set of _________
- A. standards, processes, and structures that provide the basis for carrying out internal control across the organization.
- B. risk standards, processes, and structures that provide the basis for carrying out internal control across the organization.
- C. standards, processes, and structures that provide the basis for carrying out external control across the organization.
Answer: A
NEW QUESTION # 40
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)
- A. Industry-recognized.
- B. Reputable and biased.
- C. later publication date.
- D. Internal and external consistency.
Answer: A,D
NEW QUESTION # 41
Why can Trusts pose a higher risk from a financial crime perspective?
- A. There is no major risk from a financial crime perspective? they are legitimate business instrument and that's why they are legal all around the world including in the United States, and Europe.
- B. The trustee can use a trust in order to commit financial crime.
- C. They can be used to mask the true owner and actual business purpose.
- D. They are in a physical paper form and ownership is controlled by the person who possesses the physical paper in hand.
Answer: C
NEW QUESTION # 42
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 # 43
The European Union developed its 5th Money Laundering Directive based in part on the following? (SELECT 3)
- A. A significant change in terrorist attacks in Europe over the previous five years.
- B. The Panama Papers leaks, which identified the extent to which offshore accounts are used to disguise beneficial ownership.
- C. The adoption of cryptocurrencies and other digital channels for money laundering, which are currently unregulated sectors.
- D. The exit of Britain from the European Regulatory System.
- E. Money Laundering and Financial Crime were deemed by the European Parliament and local committees as to be out of control in countries such as Andorra, Lichtenstein, and Tunisia.
Answer: A,B,C
NEW QUESTION # 44
Data must be secure so that it cannot be hacked, stolen, or misused for other purposes?
- A. Depends on the specifics.
- B. True
- C. False
Answer: B
NEW QUESTION # 45
Are Immediate family members, relatives, and close associates of PEPS classified as PEPS?
- A. Yes.
- B. No.
- C. Perhaps.
Answer: C
NEW QUESTION # 46
Shell and Shelf Companies are usually what level of customer risk?
- A. Low.
- B. Medium.
- C. Immediately Rejected due to their business profile.
- D. High.
Answer: D
NEW QUESTION # 47
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 financial crime risk to your organization.
- C. Manage the compliance risk of your organization.
- D. Manage the compliance risk of your customer.
Answer: B
NEW QUESTION # 48
Why is Private Banking Higher Risk? (SELECT 2)
- A. They use Transactions that attempt to mask true ownership.
- B. Transactions may be confidential.
- C. They use products which are designed for clients with a greater risk tolerance.
- D. They almost exclusively use structures that are on secretive jurisdictions.
Answer: A,B
NEW QUESTION # 49
......
CKYCA PDF Dumps Extremely Quick Way Of Preparation: https://www.dumps4pdf.com/CKYCA-valid-braindumps.html
Free CKYCA Exam Study Guide for the NEW Dumps Test Engine: https://drive.google.com/open?id=1IvAlAurGzgoSUG9AXGwjDpcacrv-U-rz