Acams Exam CAMS Topic 1 Question 80 Discussion

Actual exam question for Acams's CAMS exam

Question #: 80
Topic #: 1

[All CAMS Questions]

When an existing customer becomes a politically exposed person (PEP), what should the KYC analyst do during the review/refresh period?

ASeek the compliance officer's advice before marking the authorized signatory as PEP.

BUpdate the new authorized signatories in the customer profile.

CPerform enhanced due diligence for the customer and update the KYC profile.

DUpdate the list of signatories and perform enhanced due diligence in the next periodic refresh cycle.

Show Suggested Answer

Suggested Answer: C, E

by Stanton at Jul 17, 2024, 09:55 PM

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Evangelina

2 months ago

Haha, A? Come on, you really think the compliance officer wants to be bothered every time a customer becomes a PEP? They're probably busy enough as it is, trying to figure out how to get the coffee machine to stop spitting out lukewarm sludge. C is definitely the right answer here.

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Sabrina

26 days ago

Definitely. It's better to be safe than sorry when it comes to compliance and regulations.

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Colton

30 days ago

Yeah, I agree. It's important to stay on top of these things, especially when dealing with politically exposed persons.

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Letha

1 months ago

I think C is the best option here. We need to perform enhanced due diligence for the customer and update the KYC profile.

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Terrilyn

2 months ago

D? Nah, that's way too lax. You gotta do the enhanced due diligence ASAP when a customer becomes a PEP. Can't just wait for the next refresh cycle, that's asking for trouble. I'm confident C is the way to go.

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Martina

24 days ago

Absolutely, we can't afford to be lax when it comes to PEPs. C is the best option for sure.

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Albina

1 months ago

Yeah, waiting for the next refresh cycle is risky. We need to act quickly and update the KYC profile.

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Allene

1 months ago

I agree, C is definitely the right choice. Enhanced due diligence is crucial when a customer becomes a PEP.

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Lynna

2 months ago

B? Really? That's just updating the signatories, not the important PEP stuff. I'm going with C, gotta stay on top of those regulatory requirements, you know? Although, who knows, maybe the compliance officer drinks a little too much coffee and will just mark it all as PEP anyway.

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Eleonore

11 days ago

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Arlette

17 days ago

C) Perform enhanced due diligence for the customer and update the KYC profile.

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Wilburn

24 days ago

A) Seek the compliance officer's advice before marking the authorized signatory as PEP.

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Rozella

2 months ago

Hmm, I'm pretty sure it's C. You gotta do that enhanced due diligence right away when a customer becomes a PEP. Can't wait for the next refresh cycle, you know? Otherwise, the compliance officer might give you an earful.

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