[Q34-Q56] 2023 Verified CKYCA dumps Q&As on your ACAMS Certification Exam Questions Certain Success!

2023 Verified CKYCA dumps Q&As on your ACAMS Certification Exam Questions Certain Success!

CKYCA Exam Dumps - 100% Marks In CKYCA Exam!

NEW QUESTION 34
What industries are often exploited by criminals (SELECT 3)

• A. Charities Non Profits.
• B. Casinos.
• C. Dealers in high value goods.
• D. Insurance.
• E. Broker Dealers.

Answer: A,B,C

 

NEW QUESTION 35
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)

• A. Chief Operating Officer.
• B. Chief Executive Officer.
• C. Chief AML Officer.
• D. Chief Compliance Officer.
• E. Managing Director.

Answer: A,B,E

 

NEW QUESTION 36
What Boolean operator words can be used in for searching in EDD? (SELECT 2)

• A. EQUAL.
• B. OR.
• C. PLUS.
• D. AND.

Answer: B,D

 

NEW QUESTION 37
Why can Trusts pose a higher risk from a financial crime perspective?

• A. They can be used to mask the true owner and actual business purpose.
• B. They are in a physical paper form and ownership is controlled by the person who possesses the physical paper in hand.
• C. 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.
• D. The trustee can use a trust in order to commit financial crime.

Answer: A

 

NEW QUESTION 38
For secondary forms of non-documentary verification. Is the act of someone from the institution ringing up the individual and confirming the verification sufficient?

• A. Depends on the client.
• B. Yes.
• C. No.

Answer: B

 

NEW QUESTION 39
Why is Private Banking Higher Risk? (SELECT 2)

• A. Transactions may be confidential.
• B. They use products which are designed for clients with a greater risk tolerance.
• C. They almost exclusively use structures that are on secretive jurisdictions.
• D. They use Transactions that attempt to mask true ownership.

Answer: A,D

 

NEW QUESTION 40
What is the advantage of Bearer Shares? (SELECT 3)

• A. They are an excellent, quick effective way to set up a business in Delaware, Nevada, and Wyoming
• B. They can't be traced to a central registry because whoever carries them is the purported owner.
• C. They are a more affordable way of setting up a business in certain countries in the Caribbean.
• D. They can be held under agreement by professionals as another layer of secrecy.
• E. Tax haven countries and their strict secrecy laws can further conceal the true ownership.

Answer: B,D,E

 

NEW QUESTION 41
What prohibits US companies and individuals from paying bribes to foreign officials in furtherance of a business deal. It has extraterritorial reach?

• A. International Anti-Bribery Act of 1998
• B. Corruption of Foreign Public Officials Act
• C. The Foreign Corrupt Practices Act of 1977
• D. Bribery Act 2010

Answer: C

 

NEW QUESTION 42
Most Organizations Use the three risk classifications for customers.
What are they? (SELECT 3)

• A. High.
• B. Low.
• C. Moderate.
• D. Medium.
• E. EDD-High.
• F. Very High.

Answer: A,B,D

 

NEW QUESTION 43
What is the Primary legislation for Money Laundering in the United States?

• A. Bank Secrecy Act (1970)
• B. Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act)
• C. Money Laundering Control Act of 1986
• D. Anti-Drug Abuse Act of 1988
• E. Money Laundering and Financial Crimes Strategy Act (1998)

Answer: A

 

NEW QUESTION 44
Control activities in financial crime prevention include? (SELECT 3)

• A. Incorrect Controls
• B. Detective Controls.
• C. Premeditated Controls
• D. Corrective controls.
• E. Preventative Controls.

Answer: D

 

NEW QUESTION 45
An individual customer with a regular job and a salary opening a savings account would be?

• A. Unable to determine with that information.
• B. High Risk.
• C. Low Risk.
• D. Medium Risk.

Answer: C

 

NEW QUESTION 46
What is the Third Line of Defense? (TLOD)

• 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: B

 

NEW QUESTION 47
In the Customer Identification Program (CIP) What are the basic information required to identify a legal person is? (SELECT 3)

• A. Source of Wealth.
• B. Address, including legal and place of business.
• C. Source of Funds.
• D. Legal Name.
• E. Identification number issued by government.

Answer: B,D,E

 

NEW QUESTION 48
What is a regional risk (SELECT 3)

• A. Lax Immigration Controls.
• B. Global Financial Centers
• C. Port Cities.
• D. Free Trade Zones.
• E. High Intensity Financial Crime Areas (HIFCA)

Answer: C,D,E

 

NEW QUESTION 49
What are key risks in Financial Crime Prevention Control? (SELECT 3)

• A. Reputational.
• B. Financial.
• C. Regulatory.
• D. Insurance.

Answer: B

 

NEW QUESTION 50
What is an example of secondary identification in a customers CIP program? (SELECT 3)

• A. Identification from a college.
• B. Identification from securities and exchange commission. (SEC)
• C. Identification from a registry of secretary of state.
• D. Identification from another financial institution.
• E. Identification from a utility company.

Answer: A,D,E

 

NEW QUESTION 51
What of the following countries are considered Tax Havens? (SELECT 2)

• A. Cayman Islands.
• B. Barbados.
• C. United States Virgin Islands.
• D. British Virgin Islands.

Answer: A,D

 

NEW QUESTION 52
The overall customer risk rating is usually derived as a composite of the following four categories of risk in money laundering prevention.
What are the those four?

• A. Client, Jurisdiction, Product, and Sub-Channel.
• B. Client, Jurisdiction, Selected Products, and Channel.
• C. Customer, Jurisdiction, Product, and Channel.
• D. Customer, Jurisdiction, Product, and Sub-Channel.

Answer: C

 

NEW QUESTION 53
Who is your customer?

• A. individuals, listed companies, some private companies, others.
• B. individuals, private companies, dodgy companies, others.
• C. only individuals, listed companies, some private companies
• D. individuals, listed companies, private companies, others.

Answer: D

 

NEW QUESTION 54
When is Enhanced Due Diligence (EDD) used?

• A. Financial Institutions use EDD only when the product trigger event.
• B. If lower risk of easy to assess.
• C. Financial Institutions use EDD only when the geographical trigger event.
• D. if higher risk or difficult to assess.

Answer: D

 

NEW QUESTION 55
Data must be secure so that it cannot be hacked, stolen, or misused for other purposes?

• A. Depends on the specifics.
• B. False
• C. True

Answer: C

 

NEW QUESTION 56
......

Pass Your CKYCA Exam Easily With 100% Exam Passing Guarantee: https://braindump2go.examdumpsvce.com/CKYCA-valid-exam-dumps.html