Free Acams CKYCA Actual Exam Questions - Question 15 Discussion
addition to performing the normal CDD, which measure should be required from the AML officer?
A imo, the question mentions "in addition to normal CDD," so ongoing monitoring each quarter fits as an extra step. Senior management approval is important but usually comes right at onboarding.
Option B makes the most sense here because the question zeroes in on the account opening stage. You need that senior management approval before you even start the relationship due to the higher risk a PEP presents. Enhanced monitoring (option A) is important but usually kicks in after the account is active. Contacting law enforcement (C) or filing a suspicious transaction report (D) isn’t standard just because someone is a PEP—they’re riskier but not automatically suspicious. So, for this step, locking down management approval upfront is key.
B imo, because the question is about opening the account, and senior management approval is mandatory before starting the relationship with a PEP. Enhanced monitoring comes later.
B vs A? Senior management approval (B) is a must at the start, but enhanced ongoing monitoring (A) is also required later. Since question focuses on opening the account, B fits better here.
Maybe B. It’s standard to get senior management sign-off before opening accounts for higher-risk clients like PEPs, which seems like the crucial step here beyond normal CDD.
Maybe D. Filing a suspicious transaction report right away feels too premature just for opening an account, unless something suspicious pops up. But making a note of the PEP relationship helps keep it flagged for future checks. It’s a way to document the risk profile clearly from the beginning. Also, contacting law enforcement (C) seems out of scope unless there’s concrete evidence of wrongdoing, so that can be ruled out. So, documenting and reporting internally fits as an initial procedural step alongside CDD.
Option B makes the most sense here because getting senior management approval is a clear, mandatory step to formally accept the risk of a PEP client right at the start. It’s about setting that high-level oversight before the account is even opened. Options A and D are more about what happens after the account is active, so they’re not really the primary measure required from the AML officer at onboarding. C doesn’t fit since contacting law enforcement isn’t standard for every PEP, just when there are suspicious signs. So B stands out as the key initial control.
Maybe A, since ongoing monitoring is key given the higher risk after account opening.
I’m with option B on this one. Senior management approval is a must before opening any account for a PEP, as it’s a critical control step to manage risks early. While ongoing monitoring (A) is important, the question seems to focus on the initial measure beyond regular CDD, and that’s usually a green light from top-level management. Options C and D feel off because contacting law enforcement or immediately filing a suspicious report isn’t standard just for onboarding a PEP absent red flags.
A/B? I get why B is popular since senior management sign-off is usually mandatory upfront for PEPs. But A also feels relevant because enhanced ongoing monitoring is crucial due to the higher risk profile of PEPs. The question wording says “in addition to normal CDD,” which could mean extra steps both before and after account opening. D and C seem too extreme or premature at this stage. So it’s really about whether they want the initial approval step (B) or the continuing monitoring (A). Both make sense, but I’m not sure which the question emphasizes more.
It’s B because involving senior management is key before even starting the relationship, unlike ongoing monitoring which happens after account opening. It’s a control step to manage the higher risks upfront.
B, senior management approval is the clear additional step before account opening.
B, senior management approval is a must before opening accounts for PEPs.
Maybe B makes the most sense since senior management approval is a standard extra layer for PEPs before any account is opened, not just ongoing monitoring or reporting.
It’s B. The key here is what’s required in addition to normal CDD before opening the account. Senior management approval is a formal checkpoint to assess the risks upfront, which you don’t get with just monitoring or reporting after the fact. Options A and D happen later as part of ongoing vigilance, but they’re not the initial extra measure. C is definitely off since law enforcement contact isn’t automatic just because someone is a PEP. So, B stands out as the necessary additional step right at account opening.
B imo. Senior management approval is a must before even setting up the account, while enhanced monitoring comes after. C and D seem too extreme at this stage, no need to alert law enforcement right away.
B because senior management approval is usually needed for PEP accounts.