Free ACAMS CKYCA Learning Cram, CKYCA Test Question

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To be eligible to take the CKYCA certification exam, individuals must have at least two years of experience working in the AML or financial crime prevention field. They must also complete a minimum of 40 hours of AML training within the past three years, and agree to abide by the ACAMS Code of Ethics and Professional Conduct.

ACAMS CKYCA exam is an essential certification for anyone working in the field of AML and financial crime prevention. It provides professionals with a comprehensive understanding of KYC policies and procedures, which is essential for maintaining compliance with regulatory requirements and preventing financial crime. With its global recognition and prestigious reputation, achieving the CKYCA Certification is a significant achievement that can open doors to new opportunities and career growth.

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ACAMS CKYCA (Association of Certified Anti Money Laundering) Certification Exam is a globally recognized certification that is designed to validate the knowledge and expertise of anti-money laundering professionals. Association of Certified Anti Money Laundering certification is offered by the Association of Certified Anti-Money Laundering Specialists (ACAMS), which is a leading organization that provides training and certification programs for professionals working in financial crime prevention.

ACAMS Association of Certified Anti Money Laundering Sample Questions (Q102-Q107):

NEW QUESTION # 102
During a routine CDD update in a financial institution, a junior member of the compliance department identifies that the spouse of the reviewed client was elected as a member of government. Which action should the junior member take?

A. File a suspicious transaction report because the client did not notify the financial institution.
B. Make a note on the client's account of this fact and continue operations as usual.
C. Update the client's information to reflect that the client is related to a politically exposed person.
D. Inform the relationship manager about the election of the client's spouse

Answer: C

Explanation:
FATF guidelines require enhanced due diligence when a client becomes a Politically Exposed Person (PEP) or is related to one. Since the client's spouse is now a government member, the client must be classified as related to a PEP, and the institution's records must be updated accordingly.

NEW QUESTION # 103
Sanctions screening is important before onboarding a customer, or when using the services of a financial institution, because it:

A. detects all possible sanctions risk exposure.
B. helps to identify a potential match to a sanctioned party or location.
C. always leads to a suspicious activity report.
D. helps identify customers that are politically exposed persons.

Answer: B

Explanation:
Sanctions screening is conducted to detect whether a customer or related party is on a sanctions list or linked to a sanctioned location, ensuring compliance with legal and regulatory requirements before establishing or continuing a business relationship.

NEW QUESTION # 104
A KYC analyst notices frequent use of letters of credit as a method of trade finance. It further appears that trades covered by letters of credit are not consistent with the customer's usual business. What should be the next action taken by the KYC analyst?

A. Prepare to close the customer's account.
B. Notify the Board of Directors and obtain the Board's approval for filing a STR.
C. Refer internally for a potential suspicious transaction report
D. Establish internally the existence of a criminal violation.

Answer: C

Explanation:
Unusual trade finance activity, such as letters of credit inconsistent with the customer's normal business, is a potential red flag for trade-based money laundering. The appropriate step is to make an internal referral for review and possible filing of a suspicious transaction report (STR).

NEW QUESTION # 105
What stage is the explore step in the 4 step process with regards to the 4-step research model?

A. 2nd.
B. 1st.
C. 3rd.
D. 4th.

Answer: A

NEW QUESTION # 106
What is the First Line of Defense? (FLOD)

A. 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.
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 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 # 107
......

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Free ACAMS CKYCA Learning Cram, CKYCA Test Question

Valid CKYCA exam materials offer you accurate preparation dumps - ITCertMagic

ACAMS Association of Certified Anti Money Laundering Sample Questions (Q102-Q107):

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