Acams CKYCA Exam - Topic 5 Question 13 Discussion

Actual exam question for Acams's CKYCA exam

Question #: 13
Topic #: 5

As part of the source of wealth investigation of a high-net-worth individual, the compliance department at a private bank is tasked with obtaining documentary evidence pertaining to a family trust, through which the client's assets are controlled. KYC identification efforts should primarily include the:

Abank statements for investigation of transaction patterns.

Btrust deed including trustees, settlors, and beneficiaries.

Cclient asset declaration, open source, and public databases.

Ddetails of nominees (if any) and trust intermediaries.

Show Suggested Answer

Suggested Answer: B

The trust deed is the primary legal document that establishes the trust and identifies the trustees, settlors, and beneficiaries, making it essential for verifying the structure, control, and legitimacy of the client's assets.

by Tasia at May 06, 2026, 09:42 AM

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