Which of the following are key components of the Know Your Customer (KYC) process? (Select Two.)

Understanding the source of wealth and source of funds is a critical KYC requirement codified in frameworks such as the FinCEN Customer Due Diligence rule, helping institutions establish whether a customer's financial profile is consistent with their declared background. This inquiry is essential for identifying customers whose funds may be of illicit origin and for setting an appropriate risk rating.

Requesting a list of immediate family members is not a standard KYC requirement; family relationships may be relevant only in specific contexts, such as screening for politically exposed persons or understanding ownership structures.

Verifying a client's personal awareness of financial crime is not a component of KYC; the process focuses on establishing and verifying the customer's identity and risk profile, not assessing their educational knowledge of crime typologies.

Collecting and verifying documentation - such as government-issued identification, proof of address, and business registration records - is the mechanism by which institutions confirm the accuracy of customer-provided information and establish identity. This document-based verification forms the backbone of the due diligence process and is mandated by both domestic AML regulations and international standards such as FATF Recommendations.