Online Access Free CKYCA Exam Questions

Which is the best technique to effectively document a customer profile?

• A.Record customer information using abbreviations, explain adjectives, and provide a narrative to follow.
• B.Document customer information in a standardized way that is defined by the customer's jurisdiction
• C.Avoid adjectives and exaggerations, put the information into context, and be precise and unambiguous
• D.Have the profile start with a picture of the customer followed by key numbers, such as expected turnover.

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

• A.Premeditated Controls
• B.Preventative Controls.
• C.Detective Controls.
• D.Incorrect Controls
• E.Corrective controls.

When is Enhanced Due Diligence (EDD) used?

• A.If lower risk of easy to assess.
• B.if higher risk or difficult to assess.
• C.Financial Institutions use EDD only when the geographical trigger event.
• D.Financial Institutions use EDD only when the product trigger event.

In regards to ongoing CDD, financial institutions should ensure:

• A.a thorough CDD process during customer onboarding so that periodic reviews are unnecessary.
• B.a yearly review of information they maintain on all customers for consistency and efficiency.
• C.the customer profile is reviewed prior to every transaction in order to make sure the information is unchanged or current.
• D.they apply a risk-based approach on the frequency of customer profile reviews.

In relation to account activity, which is an example of tipping off?

• A.Disclosure of inside information based on KYC knowledge of a specific client
• B.Disclosure of information to a regulatory body
• C.Disclosure of a suspicious transaction report to the subject of that report
• D.Request of additional information with respect to a client's behavior