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Acams CKYCA Exam - Topic 3 Question 1 Discussion

In which circumstance must a KYC analyst obtain source of wealth information on a client subject to CDD?
D) The number of business relationships involving high-risk third countries or politically exposed persons increases.
A) Information on source of wealth for CDD clients must always be collected.
B) The client is establishing a business relationship with a private company whose benefit surpasses 10 million USD.
C) The client's senior manager is deemed to be an ultimate beneficial owner.

Acams CKYCA Exam - Topic 3 Question 1 Discussion

Actual exam question for Acams's CKYCA exam
Question #: 1
Topic #: 3
[All CKYCA Questions]

In which circumstance must a KYC analyst obtain source of wealth information on a client subject to CDD?

Show Suggested Answer Hide Answer
Suggested Answer: D

FATF requires obtaining and verifying source of wealth information in higher-risk situations, such as when there is increased involvement with high-risk jurisdictions or Politically Exposed Persons (PEPs), as part of enhanced due diligence.


by German at Oct 06, 2025, 11:43 AM

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Cathrine
5 months ago
I feel like B is the safest choice. Big money, big questions.
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Veronika
5 months ago
C is interesting too. If a senior manager is involved, we need clarity.
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Teddy
5 months ago
I lean towards A. Always better to have source of wealth info.
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Fairy
6 months ago
Option D is also important. More relationships with high-risk areas? Red flags!
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Hayley
6 months ago
Agreed, B makes sense. Over 10 million USD? Definitely need to know more.
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Alyce
6 months ago
I thought source of wealth was only for high-risk clients?
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Meaghan
6 months ago
C) is definitely a must, can't overlook UBOs.
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Rolf
6 months ago
I think B) makes sense, especially for large amounts.
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Claudio
6 months ago
A) is correct, source of wealth info is always needed.
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Leslie
7 months ago
I feel like option D could be relevant since it mentions high-risk countries, but I need to double-check the guidelines on that.
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Nelida
7 months ago
I’m a bit confused about when exactly we need to gather this info. Is it only for certain thresholds or specific clients?
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Sharee
7 months ago
I remember a practice question about high-value transactions, so I feel like option B might be the right choice here.
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Samuel
7 months ago
I think source of wealth info is always required for high-risk clients, but I'm not sure if it applies to all CDD cases.
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Antonio
7 months ago
Hmm, I'm torn between B and D. Guess I'll have to do some more studying before the exam.
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Tamekia
8 months ago
I think option B is crucial. High amounts mean higher risk.
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Anglea
8 months ago
D highlights a growing concern. We can't ignore high-risk connections.
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Brock
8 months ago
Wait, D) seems a bit vague, how do we define "increases"?
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An
8 months ago
A is the obvious choice here. Information on source of wealth for CDD clients must always be collected.
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Tatum
8 months ago
Haha, I bet the exam writers were having a field day coming up with these options. Gotta love the financial regulations!
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Kip
9 months ago
D seems like the right answer to me. The number of business relationships involving high-risk third countries or politically exposed persons increases.
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Latrice
9 months ago
I think the correct answer is B. The client is establishing a business relationship with a private company whose benefit surpasses 10 million USD.
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Hester
9 months ago
Ah, I think I've got it. Option B seems to be the only one that specifically mentions the need to collect source of wealth info for a high-value business relationship. The other options don't seem to directly require that.
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Maile
9 months ago
I've got a good strategy for this. I'll carefully read through each option and think about the specific CDD requirements related to source of wealth. That should help me identify the right answer.
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Lai
10 months ago
I'm a bit confused on this one. Do we need to collect source of wealth info for all CDD clients, or just in certain circumstances? I want to make sure I understand the requirements.
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Linn
10 months ago
Okay, let me think this through. I believe the correct answer is B, since the client is establishing a high-value business relationship.
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Wei
10 months ago
Hmm, this seems like a tricky one. I'll need to carefully review the key details about when source of wealth info is required for CDD.
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Xochitl
4 months ago
True, but I still lean towards B for business relationships.
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Allene
4 months ago
What about D? High-risk countries could be a factor too.
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Ashanti
4 months ago
I agree, B makes sense for high-value clients.
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Yasuko
7 months ago
I think it's B. Over 10 million USD is a big deal.
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