Guaranteed Success in ACAMS Certification CKYCA Exam Dumps
ACAMS CKYCA Daily Practice Exam New 2024 Updated 72 Questions
NEW QUESTION # 11
Is collecting identification a legal requirement in jurisdictions?
- A. Most.
- B. Yes.
- C. No.
Answer: A
NEW QUESTION # 12
What of the following countries are considered Tax Havens? (SELECT 2)
- A. British Virgin Islands.
- B. Cayman Islands.
- C. Barbados.
- D. United States Virgin Islands.
Answer: A,B
NEW QUESTION # 13
Shell companies can only be established as single purpose entities?
- A. No.
- B. Yes.
Answer: A
NEW QUESTION # 14
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 # 15
What are the two types of Politically Exposed Persons (PEPS) that are identified by The Financial Action Task Force? (SELECT 2)
- A. Domestic PEPs are individuals who are or have been entrusted domestically with prominent non-public functions.
- B. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country.
- C. Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a domestic country.
- D. Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions.
Answer: B,D
NEW QUESTION # 16
Financial Institutions include? (SELECT 2)
- A. Companies registered with the SEC.
- B. Insurance Companies.
- C. Broker Dealer.
- D. Pay Day Loan Companies.
Answer: B,C
NEW QUESTION # 17
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. Ripping off
- B. Dipping off
- C. Dripping off
- D. Tipping off
Answer: D
NEW QUESTION # 18
Usually, the risk associated with the customer can be higher if the customer is nonresident?
- A. Depends
- B. No
- C. Yes
Answer: C
NEW QUESTION # 19
Most Organizations Use the three risk classifications for customers.
What are they? (SELECT 3)
- A. Very High.
- B. High.
- C. Low.
- D. Moderate.
- E. EDD-High.
- F. Medium.
Answer: B,C,F
NEW QUESTION # 20
In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)
- A. Identification number issued by government.
- B. Legal Name.
- C. Address, including legal and place of business.
- D. Source of Wealth.
- E. Source of Funds.
Answer: A,B,C
NEW QUESTION # 21
What is a regional risk (SELECT 3)
- A. High Intensity Financial Crime Areas (HIFCA)
- B. Global Financial Centers
- C. Free Trade Zones.
- D. Port Cities.
- E. Lax Immigration Controls.
Answer: A,C,D
NEW QUESTION # 22
When is comes to Enhanced Due Diligence (EDD) regulators require you to do a perfect job on the client.
- A. FALSE.
- B. TRUE.
Answer: A
NEW QUESTION # 23
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. Customer, Jurisdiction, Product, and Channel.
- C. Client, Jurisdiction, Product, and Sub-Channel.
- D. Client, Jurisdiction, Selected Products, and Channel.
Answer: B
NEW QUESTION # 24
Shell and Shelf Companies are usually what level of customer risk?
- A. Immediately Rejected due to their business profile.
- B. High.
- C. Medium.
- D. Low.
Answer: B
NEW QUESTION # 25
What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)
- A. Integrity.
- B. Political Risks.
- C. Transaction Risks.
- D. Bank Risks.
- E. Litigation Risks.
Answer: A,B,E
NEW QUESTION # 26
The overall control environment is the set of _________
- A. risk standards, processes, and structures that provide the basis for carrying out internal control across the organization.
- B. 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: B
NEW QUESTION # 27
Which documents rates countries based on their money laundering controls and corruption? (SELECT 2)
- A. United Nations report on Money Laundering Controls
- B. Transparency International's Corruption Perceptions Index
- C. US State Department's annual International Narcotics Control Strategy Report
- D. Transparency International's Corruption Perceptions Index
- E. Financial Action Task Forces red flags related to jurisdiction risk
Answer: B,C
NEW QUESTION # 28
What is the overall purpose of KYC?
- A. To manage the risk posed by Terrorist Financing
- B. To manage the risk posed by customers.
- C. To manage the risk posed by financial services industry.
- D. To manage the risk posed by Money Laundering.
Answer: B
NEW QUESTION # 29
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