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Acams Advanced-CAMS-Audit Exam - Topic 2 Question 16 Discussion

Actual exam question for Acams's Advanced-CAMS-Audit exam
Question #: 16
Topic #: 2
[All Advanced-CAMS-Audit Questions]

When assessing the KYC process which should an auditor observe from the customer risk assessment? (Select Two)

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Suggested Answer: C, D

by Blondell at Jul 11, 2025, 03:59 AM

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Hui
3 months ago
Self-declaration alone? That's a red flag!
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Son
3 months ago
Wait, are we really saying overseas shareholders aren't beneficial?
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Lenna
3 months ago
Not sure about changing risk ratings just for face-to-face meetings.
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Emeline
4 months ago
I agree, C is crucial too!
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Aja
4 months ago
D is definitely a must for proper KYC.
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Kelvin
4 months ago
I’m a bit confused about option A; I thought self-declaration could sometimes be acceptable if backed by other documentation.
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Rosita
4 months ago
I feel like I’ve seen a question similar to this before, and I think both C and D might be correct since they relate to understanding the customer better.
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Hollis
4 months ago
I'm not entirely sure about option C, but I remember something about the purpose of the business relationship being key in risk assessments.
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Milly
5 months ago
I think option D is definitely important because identifying the ultimate beneficial owners is crucial for KYC compliance.
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Golda
5 months ago
I feel pretty confident about this one. Options C and D seem like the clear choices - the auditor needs to ensure the KYC process adequately covered those fundamental elements.
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Annmarie
5 months ago
The key here is understanding the core principles of KYC and customer due diligence. Identifying the ultimate beneficial owners and reviewing the purpose/nature of the business are critical steps that the auditor should be observing.
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Sylvia
5 months ago
Hmm, I'm a bit confused about the options here. I'll need to carefully review the details on beneficial ownership and the purpose/nature of the business relationship to determine the best answers.
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Lili
5 months ago
This question seems straightforward - the auditor should be looking at whether the customer's self-declaration and beneficial ownership information were properly assessed and verified as part of the KYC process.
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Evangelina
7 months ago
I feel like the auditor should just follow the money. If the trail leads to shadowy beneficial owners, that's a problem (D). And the business purpose is key (C). Simple as that.
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Blair
7 months ago
B is a bold choice. Overseas shareholders not involved? Yeah, right, that's a big red flag. D and C are the correct answers, no doubt.
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Lettie
6 months ago
I agree, D and C are crucial for a thorough KYC process.
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Cassie
6 months ago
B is definitely a red flag, overseas shareholders not involved is suspicious.
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German
7 months ago
E is just ridiculous. Face-to-face doesn't automatically mean low risk. Gotta dig deeper with D and C.
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Youlanda
6 months ago
Agreed, understanding the purpose of the business relationship and verifying the ultimate beneficial owners are key steps in the KYC process.
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Shakira
6 months ago
E is not the only factor to consider. Diving into C and D is crucial for a thorough assessment.
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Aretha
7 months ago
Yes, Jacki. It helps ensure transparency and mitigate risks related to hidden ownership.
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Jacki
7 months ago
I believe identifying and verifying the ultimate beneficial owners is crucial in the KYC process.
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Louvenia
7 months ago
Haha, self-declaration? What is this, the honor system? Definitely need to go beyond that for KYC. D and C are the way to go.
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Theresia
7 months ago
Yeah, self-declaration is not reliable at all. D is crucial for identifying and verifying the ultimate beneficial owners.
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Blossom
8 months ago
D and C seem like the obvious choices here. Can't have a proper KYC process without identifying the real owners and understanding the business purpose.
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Valentin
7 months ago
Absolutely, those two aspects are essential for a thorough KYC assessment. It's all about transparency and risk mitigation.
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Rhea
7 months ago
Agreed, without identifying the ultimate beneficial owners and understanding the business relationship, the KYC process would be incomplete.
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Fernanda
7 months ago
D and C are definitely key factors in assessing the KYC process. It's crucial to know who really owns the customer and the purpose of their business.
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Kenny
8 months ago
I agree with you, Aretha. It's important to understand the rationale behind the customer's activities.
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Aretha
8 months ago
I think we should observe the purpose and nature of the business relationship in the customer risk assessment.
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