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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:

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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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Roxane
1 month 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
1 month 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
2 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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