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ACAMS CKYCA certification is a valuable asset to individuals in the AML and financial crime prevention field. It provides professionals with the necessary skills and knowledge to effectively combat financial crimes and is recognized globally. CKYCA Exam is rigorous and requires extensive preparation, but passing the exam is a testament to an individual's commitment to the AML and financial crime prevention profession.
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ACAMS Association of Certified Anti Money Laundering Sample Questions (Q91-Q96):
NEW QUESTION # 91
Control activities in financial crime prevention include? (SELECT 3)
- A. Preventative Controls.
- B. Incorrect Controls
- C. Corrective controls.
- D. Premeditated Controls
- E. Detective Controls.
Answer: C
NEW QUESTION # 92
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. Make a note on the client's account of this fact and continue operations as usual.
- B. File a suspicious transaction report because the client did not notify the financial institution.
- 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 # 93
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 # 94
What is the Primary European Union Money Laundering regulation?
- A. 5th Anti-Money Laundering Directive.
- B. 4th Anti-Money Laundering Act.
- C. 2nd Anti-Money Laundering Directive.
- D. 5th Anti-Money Laundering Act.
- E. 3rd Anti-Money Laundering Directive
Answer: A
NEW QUESTION # 95
A KYC analyst suspects a transaction is related to a sanctioned individual. How should the analyst respond?
- A. Reach out to the customer to confirm their sanctions status during the onboarding process, and after that, once a year.
- B. Report the issue immediately according to the defined procedures.
- C. Discuss the issue with the firm's compliance officer as it is of low priority.
- D. Continue with the due diligence onboarding procedure, focusing on primary and secondary documentation.
Answer: B
Explanation:
Any suspicion of a link to a sanctioned individual must be reported immediately through the institution's defined sanctions compliance procedures to ensure legal and regulatory obligations are met without tipping off the customer.
NEW QUESTION # 96
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