Online Access Free ACAMS.CKYCA.v2026-01-23.q58 Practice Test (Page 6)

What is the purpose of having controls to Know Your Customer, also known as KYC?

A.Manage the financial crime risk to your customer.

B.Manage the compliance risk of your organization.

C.Manage the financial crime risk to your organization.

D.Manage the compliance risk of your customer.

What industries are often exploited by criminals (SELECT 3)

A.Insurance.

B.Broker Dealers.

C.Dealers in high value goods.

D.Charities Non Profits.

E.Casinos.

Which describes the best method for creating a thorough audit trail to prove compliance?

A.Documenting pictures of the customer holding the identification stored in the customer profile

B.Notations within the customer profile that the identity was checked

C.Storing transcripts in the customer's profile of dialogues that take place during onboarding

D.Incorporating copies of documentation and written communication in the customer profile

What is the overall purpose of KYC?

A.To manage the risk posed by Money Laundering.

B.To manage the risk posed by customers.

C.To manage the risk posed by financial services industry.

D.To manage the risk posed by Terrorist Financing

Non-documentary verification is checking the information the customer provides against? (SELECT 3)

A.Credit reports.

B.Public records.

C.Proprietary databases.

D.Audited Statements.

E.Email confirmation.

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