ACAMS CKYCA
Q: 1
A KYC analyst is onboarding a high-net-worth client and, during the screening process, notices that
the prospective client is the parent of a government minister. After the analyst performs a source of
wealth analysis, whose approval is needed before opening the account?
Options
Q: 2
A longstanding client asks to open two additional accounts, one for a trust and one for private equity
investments. The trust account will be funded with dividends stemming from the investments as well
as a one-off transfer from one of the client's existing accounts. As a first step, a KYC analyst should
properly document the:
Options
Q: 3
A bank’s business team has developed a new strategy, which includes the introduction of prepaid
cards as a new high-risk product offering. The compliance team has proposed to impose a monetary
limit on each prepaid card and limit the offering to the existing customers of the bank only. Which
best describes the risk impact of the controls proposed by the compliance team?
Options
Q: 4
A KYC analyst suspects a transaction is related to a sanctioned individual. How should the analyst
respond?
Options
Q: 5
In regards to ongoing CDD, financial institutions should ensure:
Options
Q: 6
A KYC analyst notices frequent use of letters of credit as a method of trade finance. It further appears
that trades covered by letters of credit are not consistent with the customer’s usual business. What
should be the next action taken by the KYC analyst?
Options
Q: 7
During the regular periodic review of a high-risk client, a KYC analyst performs EDD checks and
detects the presence of a politically exposed person. The KYC analyst should escalate this issue to
the:
Options
Q: 8
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?
Options
Q: 9
Sanctions screening is important before onboarding a customer, or when using the services of a
financial institution, because it:
Options
Q: 10
During an EDD process for a business customer, which document is the best source to identify and
obtain details on the source of funds?
Options
Question 1 of 10
