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Only The Best CKYCA Sample Questions Can Provide Highest Pass Rate of Association of Certified Anti Money Laundering

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Once a candidate has passed the ACAMS CKYCA exam, they will be awarded the certification and will be recognized as an expert in the field of anti-money laundering. Association of Certified Anti Money Laundering certification is valid for three years, after which the candidate must complete continuing education to maintain their certification. Association of Certified Anti Money Laundering certification is highly valued by employers in the financial industry and can lead to career advancement opportunities.

ACAMS CKYCA Exam covers a wide range of topics related to AML, including risk assessment, customer due diligence, suspicious activity monitoring, and regulatory compliance. CKYCA exam consists of 120 multiple-choice questions and candidates have three hours to complete it. To be eligible to take the exam, candidates must have at least one year of experience in the field of AML or a related field, such as fraud prevention or compliance.

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ACAMS Association of Certified Anti Money Laundering Sample Questions (Q99-Q104):

NEW QUESTION # 99
An Iranian customer is incorrectly recorded in the system as being from Ireland. As a result of this error, the customer will be:

A. not screened against applicable sanctions lists.
B. prohibited from funding a new account.
C. disallowed from opening new accounts.
D. assigned fewer risk points.

Answer: D

Explanation:
Misrecording the customer's country as a low-risk jurisdiction like Ireland instead of a high-risk sanctioned jurisdiction like Iran would result in the system assigning fewer risk points, underestimating the customer's true risk level.

NEW QUESTION # 100
According to the Financial Action Task Force (FATF) Risk-Based Approach Guidance, institutions should

A. incorporate customer risks into the business line risk profiles, but not into the institutional risk profile
B. adjust the extent and depth of EDD monitoring in line with their risk profile.
C. adjust customers' EDD processes independent from the institution's risk profile.
D. incorporate only higher risk customers into its risk profile.

Answer: B

Explanation:
FATF's Risk-Based Approach Guidance advises that the scope and intensity of Enhanced Due Diligence (EDD) should be proportionate to the institution's overall risk profile, ensuring resources are directed where risks are greatest.

NEW QUESTION # 101
An Ultimate Beneficial Owner (UBO) with a control prong is an individual with:

A. direct and indirect ownership greater than a certain percent value but who lacks management and operational control.
B. indirect ownership greater than a certain percent value.
C. direct and indirect ownership less than a certain percent value who exercises management and operational control.
D. direct ownership greater than a certain percent value.

Answer: C

Explanation:
Under the control prong, a UBO is identified as an individual who may not meet the ownership threshold but still exercises significant management or operational control over the entity, thereby having effective influence over its activities.

NEW QUESTION # 102
During the regular periodic review of a high-risk client, a KYC analyst performs EDD checks and detects the presence of a politically exposed person. The KYC analyst should escalate this issue to the:

A. privacy officer for the assessment of risk
B. onboarding team for the assessment of risk
C. head of the KYC team for approval or denial of risk.
D. management team for approval or denial of risk

Answer: D

Explanation:
When a politically exposed person (PEP) is identified during enhanced due diligence, FATF requires that senior management approve the decision to continue or terminate the relationship due to the elevated financial crime risk.

NEW QUESTION # 103
A KYC analyst is running an adverse media search on a prospective client's directors and learns that one of the directors has been accused of receiving bribery payments. Which step should the KYC analyst take next?

A. Dismiss the finding as immaterial.
B. Refuse to establish a business relationship with the client.
C. Escalate the matter to the compliance team.
D. Ask the director for an explanation.

Answer: C

Explanation:
Allegations of bribery involving a director are a significant red flag for potential financial crime risk. The KYC analyst should escalate the finding to the compliance team for assessment and guidance before making any decision on the business relationship.

NEW QUESTION # 104
......

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