About this exam
CKYCA is the Acams exam Certified Know Your Customer Associate.
Paid practice material for this exam is not available yet, but you can try its free sample questions.
- Exam code
- CKYCA
- Vendor
- Acams
- Practice questions
- Not available yet
- Free sample questions
- 7
- Question bank last updated
- Not available yet
Try 2 sample questions
Taken from the free sample set for CKYCA.
Question 1
A politically exposed person (PEP) is eager to open a private account with an international bank. In
addition to performing the normal CDD, which measure should be required from the AML officer?
- AOption A:
Conduct enhanced ongoing monitoring of the business relationship each quarter.
- BOption B:
Obtain senior management approval for establishing such business relationships.
- COption C:
Contact law enforcement, as PEPs pose enhanced risks to an institution.
- DOption D:
Make a note of a PEP business relationship and file a suspicious transaction report to the local
financial intelligence unit.
Show answer and explanation
Correct answer: B
FATF requires that before establishing a business relationship with a PEP, financial institutions must
obtain senior management approval, along with applying enhanced due diligence measures such as
verifying the source of wealth and funds.
Question 2
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?
- AOption A:
Relationship management
- BOption B:
Senior management
- COption C:
Team management
- DOption D:
Project management
Show answer and explanation
Correct answer: B
FATF requires that the decision to establish or continue a business relationship with a Politically
Exposed Person (PEP), or their close family members, must be approved by senior management after
appropriate enhanced due diligence has been completed.
See all 7 free sample questions