Use Real CKYCA Dumps - ACAMS Correct Answers updated on 2024

ACAMS Certification CKYCA Exam Practice Dumps

The CKYCA certification is highly regarded in the AML industry and is recognized by global financial institutions, regulators, and law enforcement agencies. It provides professionals with the knowledge and skills necessary to effectively identify and prevent money laundering activities, which is critical in maintaining the integrity of the financial system. Association of Certified Anti Money Laundering certification also demonstrates a commitment to professional development and career advancement in the AML industry.

 

NEW QUESTION # 13
For AML purposes, most jurisdictions require that beneficial ownership be collected at a threshold of (SELECT 2)

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

Answer: C,D

NEW QUESTION # 14
What Boolean operator words can be used in for searching in EDD? (SELECT 2)

• A. AND.
• B. PLUS.
• C. EQUAL.
• D. OR.

Answer: A,D

NEW QUESTION # 15
In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)

• A. Source of Funds.
• B. Identification number issued by government.
• C. Legal Name.
• D. Source of Wealth.
• E. Address, including legal and place of business.

Answer: B,C,E

NEW QUESTION # 16
What prohibits US companies and individuals from paying bribes to foreign officials in furtherance of a business deal. It has extraterritorial reach?

• A. International Anti-Bribery Act of 1998
• B. Bribery Act 2010
• C. The Foreign Corrupt Practices Act of 1977
• D. Corruption of Foreign Public Officials Act

Answer: C

NEW QUESTION # 17
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 # 18
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)

• A. Audited Statements.
• B. Utility Bill.
• C. Articles of Incorporation.
• D. Online Registry.

Answer: A,B

NEW QUESTION # 19
Shell and Shelf Companies are usually what level of customer risk?

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

Answer: B

NEW QUESTION # 20
Who is your customer?

• A. individuals, listed companies, some private companies, others.
• B. only individuals, listed companies, some private companies
• C. individuals, private companies, dodgy companies, others.
• D. individuals, listed companies, private companies, others.

Answer: D

NEW QUESTION # 21
What is a regional risk (SELECT 3)

• A. Global Financial Centers
• B. Free Trade Zones.
• C. Lax Immigration Controls.
• D. High Intensity Financial Crime Areas (HIFCA)
• E. Port Cities.

Answer: B,D,E

NEW QUESTION # 22
Shell companies can only be established as single purpose entities?

• A. No.
• B. Yes.

Answer: A

NEW QUESTION # 23
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. The frequency and expected amounts of those transactions?
• B. What sorts of transactions you should anticipate?

Answer: B

NEW QUESTION # 24
The KYC four step research is?

• A. Assess, Operations, Explore, Present
• B. Assess, Organize, Narrow, Present
• C. Assess, Organize, Explore, Past
• D. Assess, Organize, Explore, Present

Answer: D

NEW QUESTION # 25
What is the Primary Money Laundering Regulation in the United Kingdom?

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

Answer: C

NEW QUESTION # 26
The first step in the CDD of a legal person is to?

• A. Understand the ownership structure and to track back to the ultimate beneficial owners and controllers.
• B. Find out what the account will be used for, and the level of activity your organization should expect to see.
• C. Discover the type of business your customer undertakes.

Answer: A

NEW QUESTION # 27
What corporate vehicles can a money launderer hide behind, where it is difficult to identify the beneficial owner? (SELECT 4)

• A. Shell companies.
• B. Private investment companies.
• C. Regulated investment advisors
• D. Trusts.
• E. Sole Proprietors.

Answer: A,B,D,E

NEW QUESTION # 28
What is the Primary European Union Money Laundering regulation?

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

Answer: D

NEW QUESTION # 29
Why can Trusts pose a higher risk from a financial crime perspective?

• A. They are in a physical paper form and ownership is controlled by the person who possesses the physical paper in hand.
• B. 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.
• C. They can be used to mask the true owner and actual business purpose.
• D. The trustee can use a trust in order to commit financial crime.

Answer: C

NEW QUESTION # 30
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, Selected Products, and Channel.
• C. Client, Jurisdiction, Product, and Sub-Channel.
• D. Customer, Jurisdiction, Product, and Channel.

Answer: D

NEW QUESTION # 31
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. Financial Crime Risk.
• B. Remittance Risk
• C. Operational Risk.
• D. Channel Risk

Answer: D

NEW QUESTION # 32
The four step model is a model designed to?

• A. Improve the quality of the KYC Rule.
• B. Improve the quality of your KYC Research.
• C. Improve the quality of your KYC Files.
• D. Improve the quality of your KYC Program.

Answer: B

NEW QUESTION # 33
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