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Acams CAMS Exam - Topic 2 Question 12 Discussion

What are three elements of a sound Customer Due Diligence Program?
A) Determination of what type of customer the financial institution will accept and B) Training as to how and to what extent to identify prospective customers and C) Obtaining date of birth and address of a prospective customer
D) Determination of who in the institution should be assigned to the prospective customer as aliaison

Acams CAMS Exam - Topic 2 Question 12 Discussion

Actual exam question for Acams's CAMS exam
Question #: 12
Topic #: 2
[All CAMS Questions]

What are three elements of a sound Customer Due Diligence Program?

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Suggested Answer: A, B, C

by Willow at May 07, 2022, 08:29 AM

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Nelida
9 months ago
Not sure about the liaison part, isn't that a bit overkill?
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Margot
9 months ago
Agree, identifying customers is key for due diligence!
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Elfriede
9 months ago
Wait, do we really need to get their date of birth? Seems excessive.
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Venita
10 months ago
I think training is super important too.
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Michael
10 months ago
Definitely need to know the customer's type first!
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Vince
10 months ago
No problem, I've done similar tasks before. I'll just need to find the right paragraph and then make sure the pagination keeps all the lines together. Shouldn't be too tricky.
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Titus
10 months ago
This looks like a straightforward question about data types. I'm pretty confident I can figure this out.
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Gretchen
10 months ago
I think one of the key elements is identifying the types of customers the institution will accept, but I’m not completely sure.
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