[Feb-2024] 100% Guarantee Download CKYCA Exam Dumps PDF Q&A [Q12-Q34] : Exam for engine : http://blog.test4engine.com

QUESTION 12
Are Immediate family members, relatives, and close associates of PEPS classified as PEPS?

Yes.

No.

Perhaps.

QUESTION 13
The ownership of a legal person is often described as having two prongs. The first one is the beneficial owner, this is the natural or legal person who owns the entity and who benefits from its activities. The second one is called?

Control Party Prong.

Control Prong.

KYC Prong.

Controlling Prong.

QUESTION 14
Jurisdictions with high risk usually have (SELECT 4)

Poor anti-money laundering regulations.

High levels of corruption

Inadequate regulatory and judicial frameworks to prevent terror financing

Poverty

Host shell and shelf companies.

QUESTION 15
What are the two types of Politically Exposed Persons (PEPS) that are identified by The Financial Action Task Force? (SELECT 2)

Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions.

Domestic PEPs are individuals who are or have been entrusted domestically with prominent non-public functions.

Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country.

Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a domestic country.

QUESTION 16
Financial Institutions include? (SELECT 2)

Broker Dealer.

Companies registered with the SEC.

Insurance Companies.

Pay Day Loan Companies.

QUESTION 17
Shell companies can only be established as single purpose entities?

Yes.

No.

QUESTION 18
What is a regional risk (SELECT 3)

Lax Immigration Controls.

Free Trade Zones.

High Intensity Financial Crime Areas (HIFCA)

Port Cities.

Global Financial Centers

QUESTION 19
If you need to reach out to the client for more information and/or verification regarding the Enhanced Due Diligence (EDD) Process. should the KYC employee reach out directly to the client themselves and not the a relationship manager or equivalent.

TRUE.

FALSE.

QUESTION 20
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

QUESTION 21
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.

QUESTION 22
What is legal risk? (SELECT 2)

An organization breaks laws when doing business.

An employee who commits a crime unrelated to the organization.

A warning from a regulator.

An employee who commits a crime unrelated to the organization.

QUESTION 23
What of the following countries are considered Tax Havens? (SELECT 2)

Barbados.

Cayman Islands.

British Virgin Islands.

United States Virgin Islands.

QUESTION 24
What are key risks in Financial Crime Prevention Control? (SELECT 3)

Insurance.

Financial.

Reputational.

Regulatory.

QUESTION 25
Control activities in financial crime prevention include? (SELECT 3)

Corrective controls.

Detective Controls.

Preventative Controls.

Incorrect Controls

Premeditated Controls

QUESTION 26
For benefitial ownership, the exact account-opening procedures and customer acceptance policies will depend on the type of? (SELECT 3)

Risk.

Customer.

Geography.

Product.

Local Regulations.

QUESTION 27
Who is your customer?

individuals, private companies, dodgy companies, others.

individuals, listed companies, some private companies, others.

individuals, listed companies, private companies, others.

only individuals, listed companies, some private companies

QUESTION 28
What industries are often exploited by criminals (SELECT 3)

Insurance.

Charities Non Profits.

Broker Dealers.

Dealers in high value goods.

Casinos.

QUESTION 29
What is an example of secondary identification in a customers CIP program? (SELECT 3)

Identification from a utility company.

Identification from a registry of secretary of state.

Identification from a college.

Identification from securities and exchange commission. (SEC)

Identification from another financial institution.

QUESTION 30
CDD encompasses the entire lifecycle of due diligence?

CDD, EDD, SDD.

CIP, EDD, SDD.

CIP, SDD, EDD.

CIP, CDD, EDD.

QUESTION 31
Who will review KYC files to determine whether you are complying with your jurisdiction’s laws and regulations

Regulators

Law Enforcement

Compliance

The KYC Analyst

QUESTION 32
The five components of the internal control framework are the overall control environment are risk assessment, control activities, communication, regulations, quality assurance?

Yes.

No.

QUESTION 33
Why can Trusts pose a higher risk from a financial crime perspective?

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.

The trustee can use a trust in order to commit financial crime.

They are in a physical paper form and ownership is controlled by the person who possesses the physical paper in hand.

They can be used to mask the true owner and actual business purpose.

QUESTION 34
If a customer is a PEP and they are using private wealth services from banks, and also appear to have obtained a fair amount of wealth is this a red flag?

Yes.

No.

Depends on the exact circumstances.