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The Association of Certified Anti Money Laundering (ACAMS) CKYCA exam is a certification for professionals belonging to the financial industry who have a keen interest in matters related to anti-money laundering (AML) and countering the financing of terrorism (CFT). Association of Certified Anti Money Laundering certification is a powerful tool for individuals that seek to develop and demonstrate their expertise in AML and CFT practices. CKYCA exam assesses an individual's ability to understand, interpret, and apply global anti-money laundering laws and regulations, and CFT steps that can be taken to curb illegal activities in the financial industry.
To become ACAMS CKYCA certified, candidates must have proficiency in AML and CFT concepts and methodologies, including risk assessment, monitoring, and investigations. They must also possess knowledge of relevant global regulatory frameworks and have the ability to work with AML/CFT software applications. Association of Certified Anti Money Laundering certification is an excellent opportunity for professionals to validate their skills, enhance their professional development, and improve their career prospects within the financial industry.
ACAMS CKYCA (Association of Certified Anti Money Laundering) Exam is a certification program designed for professionals in the anti-money laundering (AML) and financial crime prevention field. Association of Certified Anti Money Laundering certification is designed to provide professionals with the necessary skills and knowledge to effectively combat money laundering and other financial crimes. Association of Certified Anti Money Laundering certification program is recognized globally and is a testament to an individual's commitment to the AML and financial crime prevention profession.
NEW QUESTION # 30
The KYC four step research is?
- A. Assess, Organize, Narrow, Present
- B. Assess, Operations, Explore, Present
- C. Assess, Organize, Explore, Past
- D. Assess, Organize, Explore, Present
Answer: D
NEW QUESTION # 31
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. The Foreign Corrupt Practices Act of 1977
- C. International Anti-Bribery Act of 1998
- D. Bribery Act 2010
Answer: B
NEW QUESTION # 32
The first step in the CDD of a legal person is to?
- A. Find out what the account will be used for, and the level of activity your organization should expect to see.
- B. Discover the type of business your customer undertakes.
- C. Understand the ownership structure and to track back to the ultimate beneficial owners and controllers.
Answer: C
NEW QUESTION # 33
What is the Third Line of Defense? (TLOD)
- 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: A
NEW QUESTION # 34
What Boolean operator words can be used in for searching in EDD? (SELECT 2)
- A. AND.
- B. OR.
- C. PLUS.
- D. EQUAL.
Answer: A,B
NEW QUESTION # 35
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 # 36
Which documents rates countries based on their money laundering controls and corruption? (SELECT 2)
- A. United Nations report on Money Laundering Controls
- B. US State Department's annual International Narcotics Control Strategy Report
- C. Financial Action Task Forces red flags related to jurisdiction risk
- D. Transparency International's Corruption Perceptions Index
- E. Transparency International's Corruption Perceptions Index
Answer: B,E
NEW QUESTION # 37
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. Tipping off
- D. Ripping off
Answer: C
NEW QUESTION # 38
What corporate vehicles can a money launderer hide behind, where it is difficult to identify the beneficial owner? (SELECT 4)
- A. Trusts.
- B. Shell companies.
- C. Private investment companies.
- D. Sole Proprietors.
- E. Regulated investment advisors
Answer: A,B,C,D
NEW QUESTION # 39
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 # 40
Why can Trusts pose a higher risk from a financial crime perspective?
- A. They are in a physical paper form and ownership is controlled by the person who possesses the physical paper in hand.
- B. There is no major risk from a financial crime perspective? they are legitimate business instrument and that's why they are legal all around the world including in the United States, and Europe.
- C. The trustee can use a trust in order to commit financial crime.
- D. They can be used to mask the true owner and actual business purpose.
Answer: D
NEW QUESTION # 41
A hospitality worker brings deposits items that appear to be made from a cash intensive business. Is this a red flag?
- A. It depends on the location, business, and feeling of the employee accepting the deposit.
- B. No, the customer profile for the hospitality worker fits their occupation.
- C. Yes, anyone who brings that type of currency is likely involved to have received it from illegal means.
Answer: B
NEW QUESTION # 42
For AML purposes, most jurisdictions require that beneficial ownership be collected at a threshold of (SELECT 2)
- A. 25%
- B. 15%
- C. 20%
- D. 10% sometimes for high risk customers
Answer: A,D
NEW QUESTION # 43
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 external control across the organization.
- C. standards, processes, and structures that provide the basis for carrying out internal control across the organization.
Answer: C
NEW QUESTION # 44
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 can't be traced to a central registry because whoever carries them is the purported owner.
- C. They can be held under agreement by professionals as another layer of secrecy.
- D. They are a more affordable way of setting up a business in certain countries in the Caribbean.
- E. They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming
Answer: A,B,C
NEW QUESTION # 45
Who will review KYC files to determine whether you are complying with your jurisdiction's laws and regulations
- A. Law Enforcement
- B. Regulators
- C. Compliance
- D. The KYC Analyst
Answer: B
NEW QUESTION # 46
What is the First Line of Defense? (FLOD)
- A. 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.
- B. The ________ line of defense is internal audit. They perform an independent review of the controls applied by the lines of defense.
- 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: A
NEW QUESTION # 47
A shell company or corporation is a company that, at the time of incorporation, has no significant? (SELECT 2)
- A. Assets.
- B. Funds.
- C. Operations.
- D. Employees.
Answer: A,C
NEW QUESTION # 48
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 # 49
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