CKYCA by ACAMS Actual Free Exam Questions And Answers

Question 1

In automated screening, a "false positive" match is a match which:

A. is generated by the screening tool and confirmed to be a hit.

B. after review is found to be incorrect.

C. was not flagged by the screening tool.

D. during review is incorrectly dismissed as being a hit.

Discussion 0

Correct Answer: B Vote an answer

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Question 2

A foreign customer claims as source of wealth the sale of inherited real estate. Which would be an appropriate next step in the verification process?

A. Obtain the sale contract.

B. No further evidence is required for inheritance.

C. Visit the inherited real estate to verity the existence.

D. Obtain a bank reference letter

Discussion 0

Correct Answer: C Vote an answer

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Question 3

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)

A. Utility Bill.

B. Articles of Incorporation.

C. Audited Statements.

D. Online Registry.

Discussion 0

Correct Answer: A,C Vote an answer

Question 4

What is the Third Line of Defense? (TLOD)

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 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 internal audit. They perform an independent review of the controls applied by the lines of defense.

Discussion 0

Correct Answer: C Vote an answer

Question 5

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 Compliance Officer.

B. Chief AML Officer.

C. Managing Director.

D. Chief Operating Officer.

E. Chief Executive Officer.

Discussion 0

Correct Answer: C,D,E Vote an answer

Question 6

Company A is owned by Company B (80%) and Individual W (20%). Company B is owned equally by Company C and Individual X.
Company C is owned by Individual Y (60%), Individual W (10%) and Individual Z (30%).
Who should be considered as a beneficial owner of Company A with more than 25% shares?

A. Individual Y

B. Individual Z

C. Individual X

D. Individual W

Discussion 0

Correct Answer: A Vote an answer

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Question 7

An alert is generated by a negative media search system that an existing client is accused of money laundering and is arrested. A KYC analyst assigned to investigate finds no records of a court order or subpoen a. Which is the next action the analyst should take?

A. Escalate the issue to a compliance officer for further action.

B. Call the emergency police phone line and report the matter.

C. Close the alert as the client has not yet been found guilty.

D. Contact and interview the client to ensure their innocence.

Discussion 0

Correct Answer: A Vote an answer

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Question 8

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. Bribery Act 2010

C. The Foreign Corrupt Practices Act of 1977

D. Corruption of Foreign Public Officials Act

Discussion 0

Correct Answer: C Vote an answer

Question 9

What is the Primary European Union Money Laundering regulation?

A. 5th Anti-Money Laundering Act.

B. 4th Anti-Money Laundering Act.

C. 2nd Anti-Money Laundering Directive.

D. 5th Anti-Money Laundering Directive.

E. 3rd Anti-Money Laundering Directive

Discussion 0

Correct Answer: D Vote an answer

ACAMS Association of Certified Anti Money Laundering - CKYCA Exam Practice Test

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