Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

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

Limited Time Offer

25%

Off

Get Premium CKYCA Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Cathrine
6 months ago
I feel like B is the safest choice. Big money, big questions.
upvoted 0 times
...
Veronika
7 months ago
C is interesting too. If a senior manager is involved, we need clarity.
upvoted 0 times
...
Teddy
7 months ago
I lean towards A. Always better to have source of wealth info.
upvoted 0 times
...
Fairy
7 months ago
Option D is also important. More relationships with high-risk areas? Red flags!
upvoted 0 times
...
Hayley
7 months ago
Agreed, B makes sense. Over 10 million USD? Definitely need to know more.
upvoted 0 times
...
Alyce
7 months ago
I thought source of wealth was only for high-risk clients?
upvoted 0 times
...
Meaghan
8 months ago
C) is definitely a must, can't overlook UBOs.
upvoted 0 times
...
Rolf
8 months ago
I think B) makes sense, especially for large amounts.
upvoted 0 times
...
Claudio
8 months ago
A) is correct, source of wealth info is always needed.
upvoted 0 times
...
Leslie
8 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.
upvoted 0 times
...
Nelida
8 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?
upvoted 0 times
...
Sharee
8 months ago
I remember a practice question about high-value transactions, so I feel like option B might be the right choice here.
upvoted 0 times
...
Samuel
9 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.
upvoted 0 times
...
Antonio
9 months ago
Hmm, I'm torn between B and D. Guess I'll have to do some more studying before the exam.
upvoted 0 times
...
Tamekia
9 months ago
I think option B is crucial. High amounts mean higher risk.
upvoted 0 times
...
Anglea
9 months ago
D highlights a growing concern. We can't ignore high-risk connections.
upvoted 0 times
...
Brock
10 months ago
Wait, D) seems a bit vague, how do we define "increases"?
upvoted 0 times
...
An
10 months ago
A is the obvious choice here. Information on source of wealth for CDD clients must always be collected.
upvoted 0 times
...
Tatum
10 months ago
Haha, I bet the exam writers were having a field day coming up with these options. Gotta love the financial regulations!
upvoted 0 times
...
Kip
10 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.
upvoted 0 times
...
Latrice
11 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.
upvoted 0 times
...
Hester
11 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.
upvoted 0 times
...
Maile
11 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.
upvoted 0 times
...
Lai
11 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.
upvoted 0 times
...
Linn
11 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.
upvoted 0 times
...
Wei
11 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.
upvoted 0 times
Xochitl
6 months ago
True, but I still lean towards B for business relationships.
upvoted 0 times
...
Allene
6 months ago
What about D? High-risk countries could be a factor too.
upvoted 0 times
...
Ashanti
6 months ago
I agree, B makes sense for high-value clients.
upvoted 0 times
...
Yasuko
9 months ago
I think it's B. Over 10 million USD is a big deal.
upvoted 0 times
...
...

Save Cancel