Jun-2023 Realistic CKYCA Exam Dumps with Accurate & Updated Questions
CKYCA Exam Dumps - PDF Questions and Testing Engine
The ACAMS CKYCA (Association of Certified Anti Money Laundering) exam is a certification program designed to provide individuals with a comprehensive understanding of anti-money laundering (AML) principles, regulations, and best practices. This program is offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), a leading organization in the AML industry that provides training, certification, and networking opportunities for professionals.
NEW QUESTION # 42
What prohibits US companies and individuals from paying bribes to foreign officials in furtherance of a business deal. It has extraterritorial reach?
- A. Corruption of Foreign Public Officials Act
- B. Bribery Act 2010
- C. International Anti-Bribery Act of 1998
- D. The Foreign Corrupt Practices Act of 1977
Answer: D
NEW QUESTION # 43
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. Managing Director.
- B. Chief Compliance Officer.
- C. Chief AML Officer.
- D. Chief Executive Officer.
- E. Chief Operating Officer.
Answer: A,D,E
NEW QUESTION # 44
Who will review KYC files to determine whether you are complying with your jurisdiction's laws and regulations
- A. The KYC Analyst
- B. Regulators
- C. Law Enforcement
- D. Compliance
Answer: B
NEW QUESTION # 45
The four step model is a model designed to?
- A. Improve the quality of your KYC Research.
- B. Improve the quality of your KYC Files.
- C. Improve the quality of your KYC Program.
- D. Improve the quality of the KYC Rule.
Answer: A
NEW QUESTION # 46
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. Depends on the discretion of the analyst.
- B. No
- C. Yes.
Answer: C
NEW QUESTION # 47
Is collecting identification a legal requirement in jurisdictions?
- A. Yes.
- B. No.
- C. Most.
Answer: C
NEW QUESTION # 48
The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)
- A. Internal and external consistency.
- B. Reputable and biased.
- C. Industry-recognized.
- D. later publication date.
Answer: A,C
NEW QUESTION # 49
The European Union developed its 5th Money Laundering Directive based in part on the following? (SELECT 3)
- A. The adoption of cryptocurrencies and other digital channels for money laundering, which are currently unregulated sectors.
- B. 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.
- C. A significant change in terrorist attacks in Europe over the previous five years.
- D. The Panama Papers leaks, which identified the extent to which offshore accounts are used to disguise beneficial ownership.
- E. The exit of Britain from the European Regulatory System.
Answer: A,C,D
NEW QUESTION # 50
Are Immediate family members, relatives, and close associates of PEPS classified as PEPS?
- A. Yes.
- B. No.
- C. Perhaps.
Answer: C
NEW QUESTION # 51
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. Dripping off
- B. Dipping off
- C. Ripping off
- D. Tipping off
Answer: D
NEW QUESTION # 52
Trade finance, which is the provision or credit for domestic and international trade transactions is likely?
- A. Usually a Medium Risk Produce.
- B. Usually a Low Risk Product.
- C. It depends on the Anti-Money Laundering program.
- D. Usually a High Risk Product
Answer: D
NEW QUESTION # 53
What is the overall purpose of KYC?
- A. To manage the risk posed by Money Laundering.
- B. To manage the risk posed by financial services industry.
- C. To manage the risk posed by customers.
- D. To manage the risk posed by Terrorist Financing
Answer: C
NEW QUESTION # 54
What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)
- A. Political Risks.
- B. Integrity.
- C. Transaction Risks.
- D. Bank Risks.
- E. Litigation Risks.
Answer: A,B,E
NEW QUESTION # 55
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 # 56
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 # 57
What is the advantage of Bearer Shares? (SELECT 3)
- A. Tax haven countries and their strict secrecy laws can further conceal the true ownership.
- B. They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming
- C. They can't be traced to a central registry because whoever carries them is the purported owner.
- D. They can be held under agreement by professionals as another layer of secrecy.
- E. They are a more affordable way of setting up a business in certain countries in the Caribbean.
Answer: A,C,D
NEW QUESTION # 58
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