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Acams CKYCA Exam - Topic 5 Question 13 Discussion

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:
B) trust deed including trustees, settlors, and beneficiaries.
A) bank statements for investigation of transaction patterns.
C) client asset declaration, open source, and public databases.
D) details of nominees (if any) and trust intermediaries.

Acams CKYCA Exam - Topic 5 Question 13 Discussion

Actual exam question for Acams's CKYCA exam
Question #: 13
Topic #: 5
[All CKYCA Questions]

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:

Show Suggested Answer Hide 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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Edelmira
3 days ago
B covers all key players involved.
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Karon
8 days ago
It’s all about understanding the trust.
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Rodolfo
14 days ago
I feel confident about choosing B.
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Darrin
19 days ago
Trust deed shows who controls the assets.
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Ben
24 days ago
D might help, but B is essential.
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Wilson
29 days ago
C is important, but secondary to B.
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Solange
1 month ago
B gives clear insight into the trust structure.
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Man
1 month ago
A could be useful too, but not as primary.
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Vernell
1 month ago
Agreed, the trust deed is crucial.
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Alfreda
2 months ago
I think B is the best choice.
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Kathrine
2 months ago
Not sure if all this info is really necessary for a family trust.
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Leonida
2 months ago
D is also important, but B is key for KYC.
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Marion
2 months ago
Surprised that the trust deed isn't the top priority!
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Iraida
2 months ago
I think bank statements are more crucial for transaction patterns.
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Mona
3 months ago
Definitely need the trust deed for clarity.
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Pete
3 months ago
I think it’s definitely between B and D, but I lean towards B since it gives the foundational details about the trust structure.
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Roxane
4 months ago
I’m a bit confused; could bank statements also be relevant for KYC? I feel like they might help, but they don’t directly relate to the trust itself.
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Justine
4 months ago
I remember practicing a similar question where the trust deed was emphasized, so I feel like option B is probably the right choice here.
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Tarra
5 months ago
I think the trust deed is really important because it outlines who is involved in the trust, but I'm not entirely sure if it's the primary focus for KYC.
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