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?

AInformation on source of wealth for CDD clients must always be collected.

BThe client is establishing a business relationship with a private company whose benefit surpasses 10 million USD.

CThe client's senior manager is deemed to be an ultimate beneficial owner.

DThe number of business relationships involving high-risk third countries or politically exposed persons increases.

Show Suggested 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

2 months ago

I feel like B is the safest choice. Big money, big questions.

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Veronika

2 months ago

C is interesting too. If a senior manager is involved, we need clarity.

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Teddy

2 months ago

I lean towards A. Always better to have source of wealth info.

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Fairy

3 months ago

Option D is also important. More relationships with high-risk areas? Red flags!

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Hayley

3 months ago

Agreed, B makes sense. Over 10 million USD? Definitely need to know more.

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Alyce

3 months ago

I thought source of wealth was only for high-risk clients?

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Meaghan

3 months ago

C) is definitely a must, can't overlook UBOs.

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Rolf

3 months ago

I think B) makes sense, especially for large amounts.

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Claudio

3 months ago

A) is correct, source of wealth info is always needed.

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Leslie

4 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

4 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

4 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

4 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

4 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

5 months ago

I think option B is crucial. High amounts mean higher risk.

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Anglea

5 months ago

D highlights a growing concern. We can't ignore high-risk connections.

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Brock

5 months ago

Wait, D) seems a bit vague, how do we define "increases"?

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An

5 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

5 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

6 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

6 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

6 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

6 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

7 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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