CKYCA

CKYCA practice questions, page 3 of 3, with answer review and explanations.

Question 11

Which situation would most likely increase the inherent risk of a corporate customer?

  1. A junior-level employee of the customer becomes politically exposed.
  2. The customer opens an additional cash management account.
  3. A beneficial owner of the customer goes public on a US stock exchange.
  4. The customer’s business expands beyond its home country.

Question 12

A compliance officer in an international bank is reviewing new customer onboarding files. The relationship manager provides a whole set of customer documents, in addition to information from open source research. What information should be used by the compliance officer as secondary documentation to verify the primary documentation?

  1. A phone bill, utility bill, or bank statement showing the name and address of the customer, issued less than 3 months ago
  2. Government-issued documents such as an identification card, passport, or driving license, issued more than 1 year ago
  3. Government-issued documents such as an identification card, passport, or driving license, issued less than 3 months ago
  4. A phone bill, utility bill, or bank statement showing the name and address of the customer, issued more than 1 year ago