CKYCA exam

The KYC four step research is?A . Assess, Organize, Explore, Past B. Assess, Organize, Narrow, Present C. Assess, Operations, Explore, Present D. Assess, Organize, Explore, PresentView AnswerAnswer: D

Delivery Channel Risk is associated with? (SELECT 3)A . Correspondent banks. B. Savings accounts C. Payable through accounts. D. Deposit accounts E. Concentration accountsView AnswerAnswer: A,C,E

Shell companies can only be established as single purpose entities?A . Yes. B. No.View AnswerAnswer: B Explanation: Some shell companies can be established as multipurpose entities

When is comes to Enhanced Due Diligence (EDD) regulators require you to do a perfect job on the client.A . TRUE. B. FALSE.View AnswerAnswer: B Explanation: FALSE, Regulators only require that you do a reasonable job, so itâ™s important to use your best judgment

CDD encompasses the entire lifecycle of due diligence?A . CDD, EDD, SDD. B. CIP, EDD, SDD. C. CIP, SDD, EDD. D. CIP, CDD, EDD.View AnswerAnswer: C

The following are some attributes of reliable sources to use in the EDD process. (SELECT 2)A . Reputable and biased. B. Internal and external consistency. C. Industry-recognized. D. later publication date.View AnswerAnswer: B,C

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.A . TRUE. B. FALSE.View AnswerAnswer: B Explanation: FALSE, the Front...

The five components of the internal control framework are the overall control environment are risk assessment, control activities, communication, regulations, quality assurance?A . Yes. B. No.View AnswerAnswer: B Explanation: It's risk assessment, control activities, information and communication, and monitoring.

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 . Online Registry. B. Articles of Incorporation. C. Audited Statements. D. Utility Bill.View AnswerAnswer: C,D

What risks are you looking for when a client has requires Enhanced Due Diligence (EDD) (Select 3)A . Transaction Risks. B. Bank Risks. C. Litigation Risks. D. Political Risks. E. Integrity.View AnswerAnswer: C,D,E