Dec 24, 2023 Newest CKYCA Exam Dumps – Achieve Success in Actual CKYCA Exam
Updated ACAMS CKYCA Dumps – Check Free CKYCA Exam Dumps (2023)
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.
Holding a CKYCA certification can be beneficial for professionals working in the AML field. It demonstrates their knowledge and expertise in KYC compliance, which is a critical aspect of AML. Additionally, it can enhance their career prospects and increase their credibility among their peers and employers.
The CKYCA certification exam offered by ACAMS is a valuable credential for professionals working in the AML and financial crime prevention field. It demonstrates a commitment to excellence and a dedication to staying informed about the latest developments in the industry.
NEW QUESTION # 42
Shell companies can only be established as single purpose entities?
- A. Yes.
- B. No.
Answer: B
NEW QUESTION # 43
Shell and Shelf Companies are usually what level of customer risk?
- A. High.
- B. Immediately Rejected due to their business profile.
- C. Low.
- D. Medium.
Answer: A
NEW QUESTION # 44
What prohibits US companies and individuals from paying bribes to foreign officials in furtherance of a business deal. It has extraterritorial reach?
- A. The Foreign Corrupt Practices Act of 1977
- B. Corruption of Foreign Public Officials Act
- C. International Anti-Bribery Act of 1998
- D. Bribery Act 2010
Answer: A
NEW QUESTION # 45
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. 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. The Panama Papers leaks, which identified the extent to which offshore accounts are used to disguise beneficial ownership.
- D. The exit of Britain from the European Regulatory System.
- E. The adoption of cryptocurrencies and other digital channels for money laundering, which are currently unregulated sectors.
Answer: A,C,E
NEW QUESTION # 46
Data must be secure so that it cannot be hacked, stolen, or misused for other purposes?
- A. False
- B. True
- C. Depends on the specifics.
Answer: B
NEW QUESTION # 47
What is a regional risk (SELECT 3)
- A. Global Financial Centers
- B. Free Trade Zones.
- C. Port Cities.
- D. High Intensity Financial Crime Areas (HIFCA)
- E. Lax Immigration Controls.
Answer: B,C,D
NEW QUESTION # 48
What is the Second Line of Defense? (SLOD)
- 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 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.
- C. 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.
Answer: C
NEW QUESTION # 49
CDD encompasses the entire lifecycle of due diligence?
- A. CDD, EDD, SDD.
- B. CIP, EDD, SDD.
- C. CIP, CDD, EDD.
- D. CIP, SDD, EDD.
Answer: D
NEW QUESTION # 50
What industries are often exploited by criminals (SELECT 3)
- A. Dealers in high value goods.
- B. Broker Dealers.
- C. Insurance.
- D. Casinos.
- E. Charities Non Profits.
Answer: A,D,E
NEW QUESTION # 51
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 # 52
What are key risks in Financial Crime Prevention Control? (SELECT 3)
- A. Reputational.
- B. Insurance.
- C. Financial.
- D. Regulatory.
Answer: C
NEW QUESTION # 53
Trade finance, which is the provision or credit for domestic and international trade transactions is likely?
- A. It depends on the Anti-Money Laundering program.
- B. Usually a High Risk Product
- C. Usually a Low Risk Product.
- D. Usually a Medium Risk Produce.
Answer: B
NEW QUESTION # 54
Why is Private Banking Higher Risk? (SELECT 2)
- A. They almost exclusively use structures that are on secretive jurisdictions.
- B. Transactions may be confidential.
- C. They use Transactions that attempt to mask true ownership.
- D. They use products which are designed for clients with a greater risk tolerance.
Answer: B,C
NEW QUESTION # 55
What of the following countries are considered Tax Havens? (SELECT 2)
- A. British Virgin Islands.
- B. United States Virgin Islands.
- C. Cayman Islands.
- D. Barbados.
Answer: A,C
NEW QUESTION # 56
For benefitial ownership, the exact account-opening procedures and customer acceptance policies will depend on the type of? (SELECT 3)
- A. Product.
- B. Customer.
- C. Risk.
- D. Geography.
- E. Local Regulations.
Answer: B,C,E
NEW QUESTION # 57
Delivery Channel Risk is associated with? (SELECT 3)
- A. Payable through accounts.
- B. Concentration accounts
- C. Savings accounts
- D. Deposit accounts
- E. Correspondent banks.
Answer: A,B,E
NEW QUESTION # 58
What is the overall purpose of KYC?
- A. To manage the risk posed by Terrorist Financing
- B. To manage the risk posed by financial services industry.
- C. To manage the risk posed by Money Laundering.
- D. To manage the risk posed by customers.
Answer: D
NEW QUESTION # 59
Are Immediate family members, relatives, and close associates of PEPS classified as PEPS?
- A. Yes.
- B. No.
- C. Perhaps.
Answer: C
NEW QUESTION # 60
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 # 61
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