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CCAS Practice Questions

Certified Cryptoasset Anti-Financial Crime Specialist Examination

Last Update 4 days ago
Total Questions : 100

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Question # 21

A firm using blockchain analytics finds an address that sent funds through multiple hops before reaching a darknet market wallet. This is an example of:

Options:

A.  

Direct exposure

B.  

Indirect exposure

C.  

Mixing

D.  

Transaction batching

Discussion 0
Question # 22

How should an investigator use transaction history to determine whether cryptoassets were previously involved in money laundering?

Options:

A.  

Assess the identity of the cryptoasset owner.

B.  

Assess other assets held by the cryptoasset owner.

C.  

Assess the cryptoasset addresses' receiving exposure to illicit activity.

D.  

Assess the jurisdiction where the transactions took place.

Discussion 0
Question # 23

How does law enforcement use Suspicious Activity Reports (SARs)? (Select Two.)

Options:

A.  

To identify regulatory failings

B.  

To produce evidence of money laundering that can be used in court

C.  

To develop intelligence on new targets

D.  

To confirm or develop information on existing targets

Discussion 0
Question # 24

Which risk category covers threats from ransomware actors demanding payment in cryptoassets?

Options:

A.  

Operational risk

B.  

Counterparty risk

C.  

Cyber-enabled financial crime risk

D.  

Liquidity risk

Discussion 0
Question # 25

According to me Financial Action Task Force's (FATF's> definition of virtualasset service provider (VASP), for which activityis an entity required to be licensee or registered as a VASP in the jurisdiction(s) where they are created?

Options:

A.  

Cryptocurrencymining operations

B.  

Safekeepingand/or administration of virtual assets and exchange between one or more forms of virtual assets

C.  

Operating blockchainnodes

D.  

Virtual money servicebusinesses

Discussion 0
Question # 26

Why should firms monitor “dusting” attacks?

Options:

A.  

They slow blockchain performance.

B.  

They can link anonymous wallets to known identities.

C.  

They increase transaction fees.

D.  

They inflate token supply.

Discussion 0
Question # 27

In sanctions screening, a “fuzzy match” occurs when:

Options:

A.  

There is no match found.

B.  

A partial or near match to a sanctions list entry occurs.

C.  

Only wallet addresses match exactly.

D.  

The customer is in a low-risk jurisdiction.

Discussion 0
Question # 28

As per the Financial Action Task Force standards, which activities fall under the definition of a virtual asset service provider? (Select Three.)

Options:

A.  

Operation of a virtual assets mining facility

B.  

Exchange between one or more forms of virtual assets

C.  

Participation in and provision of financial services related to an initial coin offering

D.  

Exchange between virtual assets and fiat currencies

E.  

Creation of virtual assets software to issue decentralized managed virtual assets

F.  

Participation in and provision of financial services related to an initial public offering

Discussion 0
Question # 29

The lightning network is apayment protocol built on top of the Bitcoin blockchainthat:

Options:

A.  

allows usersto send large payments to decentralised exchanges

B.  

allows the bridging of assets from one blockchain to another.

C.  

allows users to take advantage of no transaction fees.

D.  

allows users to conduct transactions off-chain

Discussion 0
Question # 30

A suspicious activity report was filed in the EU for a local company account that held funds generated by the sale of product coupons. A review of the account highlighted a login from an unconnected IP address. Despite repeated requests, the customer failed to provide information on the origins of the funds. Which is the main red flag here?

Options:

A.  

Virtual asset service providers outside of the EU are being relied upon.

B.  

Funds are generated by the sale of coupons which are connected to a physical product.

C.  

There is a failure to cooperate with the source of funds requests.

D.  

An IP address is being used that is not previously connected to that customer.

Discussion 0
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