New 2024 Realistic CKYCA Dumps Test Engine Exam Questions in here
Updated Official licence for CKYCA Certified by CKYCA Dumps PDF
To be eligible to take the CKYCA certification exam, candidates must have at least two years of experience in the field of anti-money laundering or a related field. They must also complete a comprehensive training program and pass a rigorous exam that covers a wide range of topics related to anti-money laundering. Once they have earned their certification, they must complete ongoing professional development activities to maintain their certification status.
ACAMS CKYCA exam covers a range of topics including anti-money laundering regulations, risk assessment, fraud prevention, sanctions compliance, and anti-corruption measures. CKYCA exam is designed to test a candidate's understanding of these topics and their ability to apply this knowledge in real-world scenarios. CKYCA exam is split into two parts, with the first part covering foundational AML knowledge and the second part focusing on more advanced AML concepts.
The Association of Certified Anti Money Laundering Specialists (ACAMS) is a globally recognized organization that provides certifications and training in anti-money laundering (AML) and financial crime prevention. The ACAMS Certified Know Your Customer Analyst (CKYCA) Exam is a certification program designed for professionals working in the financial industry who are responsible for ensuring compliance with AML regulations and preventing financial crimes. The CKYCA certification program is a comprehensive, globally recognized qualification that demonstrates a professional's knowledge and skills in AML and financial crime prevention.
NEW QUESTION # 27
What is the overall purpose of KYC?
- A. To manage the risk posed by customers.
- B. To manage the risk posed by Terrorist Financing
- C. To manage the risk posed by financial services industry.
- D. To manage the risk posed by Money Laundering.
Answer: A
NEW QUESTION # 28
What is an example of secondary identification in a customers CIP program? (SELECT 3)
- A. Identification from a registry of secretary of state.
- B. Identification from securities and exchange commission. (SEC)
- C. Identification from a college.
- D. Identification from a utility company.
- E. Identification from another financial institution.
Answer: C,D,E
NEW QUESTION # 29
For AML purposes, most jurisdictions require that beneficial ownership be collected at a threshold of (SELECT 2)
- A. 10% sometimes for high risk customers
- B. 25%
- C. 20%
- D. 15%
Answer: A,B
NEW QUESTION # 30
What corporate vehicles can a money launderer hide behind, where it is difficult to identify the beneficial owner? (SELECT 4)
- A. Private investment companies.
- B. Sole Proprietors.
- C. Shell companies.
- D. Regulated investment advisors
- E. Trusts.
Answer: A,B,C,E
NEW QUESTION # 31
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. FALSE.
- B. TRUE.
Answer: A
NEW QUESTION # 32
What of the following countries are considered Tax Havens? (SELECT 2)
- A. British Virgin Islands.
- B. Barbados.
- C. Cayman Islands.
- D. United States Virgin Islands.
Answer: A,C
NEW QUESTION # 33
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. Channel Risk
- B. Operational Risk.
- C. Remittance Risk
- D. Financial Crime Risk.
Answer: A
NEW QUESTION # 34
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 # 35
Who is your customer?
- A. individuals, listed companies, private companies, others.
- B. individuals, listed companies, some private companies, others.
- C. only individuals, listed companies, some private companies
- D. individuals, private companies, dodgy companies, others.
Answer: A
NEW QUESTION # 36
What is legal risk? (SELECT 2)
- A. An employee who commits a crime unrelated to the organization.
- B. An organization breaks laws when doing business.
- C. A warning from a regulator.
- D. An employee who commits a crime unrelated to the organization.
Answer: B,D
NEW QUESTION # 37
The five components of the internal control framework are the overall control environment are risk assessment, control activities, communication, regulations, quality assurance?
- A. Yes.
- B. No.
Answer: B
NEW QUESTION # 38
What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)
- A. Bank Risks.
- B. Transaction Risks.
- C. Political Risks.
- D. Integrity.
- E. Litigation Risks.
Answer: C,D,E
NEW QUESTION # 39
The European Union developed its 5th Money Laundering Directive based in part on the following? (SELECT 3)
- A. The Panama Papers leaks, which identified the extent to which offshore accounts are used to disguise beneficial ownership.
- B. A significant change in terrorist attacks in Europe over the previous five years.
- 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 # 40
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. No.
- C. Depends on the client.
Answer: A
NEW QUESTION # 41
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)
- A. Reputable and biased.
- B. Internal and external consistency.
- C. later publication date.
- D. Industry-recognized.
Answer: B,D
NEW QUESTION # 42
Financial Institutions include? (SELECT 2)
- A. Companies registered with the SEC.
- B. Broker Dealer.
- C. Insurance Companies.
- D. Pay Day Loan Companies.
Answer: B,C
NEW QUESTION # 43
What industries are often exploited by criminals (SELECT 3)
- A. Dealers in high value goods.
- B. Insurance.
- C. Broker Dealers.
- D. Charities Non Profits.
- E. Casinos.
Answer: A,D,E
NEW QUESTION # 44
A person disclosing to any other person, information or any other matter, which is likely to prejudice a money laundering investigation is known to be?
- A. Dipping off
- B. Tipping off
- C. Dripping off
- D. Ripping off
Answer: B
NEW QUESTION # 45
When is Enhanced Due Diligence (EDD) used?
- A. if higher risk or difficult to assess.
- B. Financial Institutions use EDD only when the geographical trigger event.
- C. Financial Institutions use EDD only when the product trigger event.
- D. If lower risk of easy to assess.
Answer: A
NEW QUESTION # 46
What is the Primary Money Laundering Regulation in the United Kingdom?
- A. Proceeds of Terrorism Act
- B. Proceeds of Crime Act
- C. The Money Laundering and Terrorist Financing (Amendment) Regulation 2019
- D. UK AML Sanctions Regime
Answer: C
NEW QUESTION # 47
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?
- A. Control Party Prong.
- B. Control Prong.
- C. Controlling Prong.
- D. KYC Prong.
Answer: B
NEW QUESTION # 48
......
Grab latest ACAMS CKYCA Dumps as PDF Updated: https://www.pass4cram.com/CKYCA_free-download.html
Newly Released CKYCA Dumps for ACAMS Certification Certified: https://drive.google.com/open?id=1r0lYcgDbeC9Ka8bM7nWR4XvWli84CTHs