CKYCA Exam Questions & Answers
Certified Know Your Customer Associate • Acams
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Sample CKYCA Questions
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A corporate client changes directors and the address of its registered office. Which documentation would be sufficient to verify these changes?
Government-issued documents, such as updated company registry extracts, provide authoritative and verifiable proof of changes to directors and registered office details, ensuring compliance with CDD requirements.
Which key elements should be included in CDD?
Core elements of Customer Due Diligence include a customer overview, the nature of their business or occupation, their geographic profile, and a summary of any identified red flags, all of which support accurate risk assessment and monitoring.
Sanctions screening is important before onboarding a customer, or when using the services of a financial institution, because it:
Sanctions screening is conducted to detect whether a customer or related party is on a sanctions list or linked to a sanctioned location, ensuring compliance with legal and regulatory requirements before establishing or continuing a business relationship.
Which is an example of an EDD measure?
Obtaining and verifying the customer's source of wealth is a key Enhanced Due Diligence (EDD) measure, especially for high-risk customers such as PEPs, as it helps assess the legitimacy of their funds.
A KYC analyst suspects a transaction is related to a sanctioned individual. How should the analyst respond?
Any suspicion of a link to a sanctioned individual must be reported immediately through the institution's defined sanctions compliance procedures to ensure legal and regulatory obligations are met without tipping off the customer.
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