CKYCA Exam Training Material for Passing CKYCA Test

dumps2023-02-07T02:12:16+08:00

The Central Kerala Youth Chess Association (CKYCA) is a renowned organization dedicated to promoting and nurturing the game of chess in Central Kerala. With a vision to cultivate and groom the next generation of chess champions, CKYCA conducts regular training programs and tournaments for young chess enthusiasts. The latest CKYCA exam training material is valid in preparation. Free ACAMS Certification CKYCA exam training material is below.

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1. Usually, the risk associated with the customer can be higher if the customer is nonresident?

Yes

Depends

2. The Source of Funds and the Source of Wealth must be? (SELECT 2)

Provided

Explained.

Verified.

Consistant.

3. A hospitality worker brings deposits items that appear to be made from a cash intensive business. Is this a red flag?

Yes, anyone who brings that type of currency is likely involved to have received it from illegal means.

No, the customer profile for the hospitality worker fits their occupation.

It depends on the location, business, and feeling of the employee accepting the deposit.

4. Under a risk based approach is a PEP risk manageable If a customer discloses during the KYC, or Know Your Customer process?

No, PEPS are do not fit within the risk tolerance of an organization.

No, PEPs do not need to disclose their status, it is up to the financial institution to find that information out and determine the risk.

Yes, He or she is the spouse of a government official, closely related to the government official

Yes, PEPS need bank accounts and access to financial investment products like everyone else.

5. A shell company or corporation is a company that, at the time of incorporation, has no significant? (SELECT 2)

Assets.

Employees.

Funds.

Operations.

6. Shell companies can only be established as single purpose entities?

Yes.

No.

7. What of the following countries are considered Tax Havens? (SELECT 2)

Barbados.

Cayman Islands.

British Virgin Islands.

United States Virgin Islands.

8. Delivery Channel Risk is associated with? (SELECT 3)

Correspondent banks.

Savings accounts

Payable through accounts.

Deposit accounts

Concentration accounts

9. An individual customer with a regular job and a salary opening a savings account would be?

Low Risk.

Medium Risk.

High Risk.

Unable to determine with that information.

10. The five components of the internal control framework are the overall control environment are risk assessment, control activities, communication, regulations, quality assurance?

Yes.

No.

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11. The overall control environment is the set of _________

standards, processes, and structures that provide the basis for carrying out external control across the organization.

risk standards, processes, and structures that provide the basis for carrying out internal control across the organization.

standards, processes, and structures that provide the basis for carrying out internal control across the organization.

12. Control activities in financial crime prevention include? (SELECT 3)

Corrective controls.

Detective Controls.

Preventative Controls.

Incorrect Controls

Premeditated Controls

13. KYC does not end after on-boarding a customer. (TRUE OR FALSE)

True.

False.

14. If an organization suspects that a customer is laundering money, or committing other types of financial crime, it has a duty to report it to the authorities? (TRUE OR FALSE)

True.

False

15. The four step model is a model designed to?

Improve the quality of your KYC Program.

Improve the quality of your KYC Research.

Improve the quality of your KYC Files.

Improve the quality of the KYC Rule.

16. The KYC four step research is?

Assess, Organize, Explore, Past

Assess, Organize, Narrow, Present

Assess, Operations, Explore, Present

Assess, Organize, Explore, Present

17. Who will review KYC files to determine whether you are complying with your jurisdictionâ™s laws and regulations

Regulators

Law Enforcement

Compliance

The KYC Analyst

18. CDD encompasses the entire lifecycle of due diligence?

CDD, EDD, SD

CIP, EDD, SD

CIP, SDD, ED

CIP, CDD, ED

19. When is Enhanced Due Diligence (EDD) used?

Financial Institutions use EDD only when the geographical trigger event.

Financial Institutions use EDD only when the product trigger event.

If lower risk of easy to assess.

if higher risk or difficult to assess.

20. Secondary identification is often used to cross-verify the primary form of identification and to cross-verify information provided by the customer.

What is an example of secondary identification? (SELECT 2)

Online Registry.

Articles of Incorporation.

Audited Statements.

Utility Bill.

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21. Non-documentary verification is checking the information the customer provides against? (SELECT 3)

Credit reports.

Audited Statements.

Proprietary databases.

Email confirmation.

Public records.

22. For secondary forms of non-documentary verification. Is the act of someone from the institution ringing up the individual and confirming the verification sufficient?

Yes.

No.

Depends on the client.

23. For the second prong, the control prong, an organization must collect the identity of one person who exercises control over the company.

Which below are deemed acceptable? (SELECT 3)

Chief Operating Officer.

Chief AML Officer.

Chief Compliance Officer.

Chief Executive Officer.

Managing Director.

CKYCA Exam Training Material for Passing CKYCA Test

CKYCA Exam Training Material for Passing CKYCA Test

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