Pass CCAS Exam to Get ACAMS Certification

The CCAS exam is hot, and passing it requires a deep understanding of ACAMS solutions. Practicing with ACAMS CCAS dumps questions can help you reinforce your knowledge and increase your chances of passing the exam. CCAS dumps are available to help you prepare for the CCAS exam. Using CCAS exam dumps questions is one effective way to supplement your study plan and increase your chances of success on exam day. Test free Certified Cryptoasset AFC Specialist CCAS exam dumps below.

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1. Which is the most important consideration when assessing compromise risks when creating a decentralized finance protocol or smart contract?

Security token standard

Dual authentication protocols

Government regulation

Code uniqueness

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2. Which scenario most likely indicates potential active involvement of a customer in virtual asset related scam activities?

Indirect receiving from a scam cluster

Indirect sending to a scam cluster

Direct sending to a scam cluster

Direct receiving from a scam cluster

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3. What is the most pertinent item for a cryptoasset money services business to include in a suspicious activity report?

All types of cryptocurrencies purchased by the subject, including aggregate total of each and fiat currency equivalent

The names of every owner of the destination wallet address(es) to which the subject sent transactions during the review period

The aggregate total amount of fiat currency used by the subject to purchase cryptocurrency

The subject's account onboarding information not otherwise included in the counter-party information section

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4. Which activity should be detected as a red flag during the customer onboarding stage and further investigated?

Receipt of a law enforcement request to examine transactions on the customer's account

The applicant being located in the same jurisdiction as the virtual asset service provider

The use of a foreign identification document by an immigrant

Sharing of the same IP address by multiple customers

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

Assess the identity of the cryptoasset owner.

Assess other assets held by the cryptoasset owner.

Assess the cryptoasset addresses' receiving exposure to illicit activity.

Assess the jurisdiction where the transactions took place.

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6. What methods do criminals use to avoid clustering of crypto wallet addresses?

The address receives a large amount of cryptocurrency from another wallet address.

After receiving a large volume of crypto payments in the wallet, they are left there for a long period of time.

The cryptoassets are moved to the exchange after a large number of hops within a short period of time.

A small portion of cryptoassets is moved to an exchange, and the rest remain in the wallet.

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7. According to the Financial Crimes Enforcement Network's Guidance 2019-G0001 pertaining to convertible virtual currencies, a money transmitter includes companies that:

Exchange digital tokens.

Provide the delivery, communication, or network access services to only support money transmission services.

Operate a clearance and settlement system or otherwise act as intermediaries solely between Bank Secrecy Act-regulated institutions.

Act as payment processors to facilitate the purchase of, or payment of a bill for, a good or service through a clearance and settlement system.

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8. What is a “token burn”?

Destroying tokens to reduce supply.

Sending tokens to a liquidity pool.

Transferring tokens to an OTC desk.

Locking tokens in staking.

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9. What is “layering” in the context of money laundering using cryptoassets?

Splitting transactions into smaller amounts to evade reporting thresholds

Moving illicit funds through complex transactions to obscure origin

Converting crypto into fiat currency

Freezing illicit accounts

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10. Which consensus mechanism uses staked tokens to validate transactions instead of computational power?

Proof-of-Work

Proof-of-Stake

Delegated Ledger Approval

Byzantine Fault Tolerance

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11. Which is an accurate description of a Decentralized Autonomous Organization (DAO)?

DAOs are decentralized blockchain organizations that require managerial activity by humans.

DAOs are organizational structures through which how a protocol will operate is determined by a group of actors.

DAOs are cryptocurrency funds in which the board of directors submit their votes using blockchain technology.

DAOs are decentralized blockchain technologies that use traditional contracts instead of smart contracts.

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12. A client at a virtual asset service provider (VASP) opened a wallet four weeks earlier with 201,000 USD. The client received a Bitcoin transfer for a total of 565,400 USD.

Which is the strongest indication of an illicit source of funds for the client?

Two days after opening the wallet, the client transfers 199,000 USD to a third party.

The client declared a total wealth of 600,000 USD at account opening.

It was not possible to trace the client's IP address.

Incoming funds moved through five intermediary wallets before being transferred from a foreign VAS

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13. The Financial Action Task Force recommends countries require virtual asset service providers to maintain all records of transactions and customer due diligence measures for a minimum of:

6 months

2 years

5 years

7 years

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14. A customer who runs a cryptoasset automated teller machine (ATM) comes into a financial institution and deposits a larger than usual amount. When asked about the deposit, the customer answers there has been broader adoption of cryptoassets in the region where the ATM is located.

Which additional information about the business would indicate high risk for money laundering? (Select Two.)

The volume and the number of users increase.

The cryptoasset ATM supports a variety of cryptoassets.

The region is neighboring with a narcotic-producing jurisdiction.

The region is located within a high-risk jurisdiction.

The cryptoasset ATM was recently licensed.

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15. What is the purpose of a security audit in reason to smart contracts?

To allow the developer to confirm that the code does not violate copyright

To identify any outdated functions or performance issues

To Identify bad actors that ace seeking to misuse the smart contract

To protect investors' funds by identifying weaknesses in the code or protocol

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16. Which cryptoasset type is most associated with anonymity risk?

Privacy coin

Stablecoin

Governance token

Security token

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17. A compliance officer is conducting a customer risk review.

Which statements represent the highest level of customer risk? (Select Two.)

A customer who uses a virtual private network (VPN) connection to access the customer's account

A student customer depositing 15,000 USD over a period of a month, using the funds to purchase cryptoassets that are sent to another virtual asset service provider

A business customer opting to pay suppliers in cryptoassets

A customer receiving cryptoassets daily from another virtual asset service provider located in a foreign jurisdiction which are then sent to a private wallet

A customer located in a foreign country donating 10,000 USD worth of cryptoassets to a charity for veterans in the US

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18. Which is an example of “structuring” in crypto transactions?

Sending multiple sub-threshold transactions to avoid reporting.

Exchanging one crypto for another.

Using a decentralized exchange.

Engaging in staking.

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19. Which is the first action a virtual asset service provider (VASP) should take when it finds out that its customers are engaging in virtual asset (VA) transfers related to unhosted wallets and peer-to-peer (P2P) transactions?

Allow VA transfers related P2P or unhosted wallets below 1,000 USD or the equivalent amount in local currency, or per defined thresholds in local regulations.

Freeze accounts with records of transactions related to P2P transactions or unhosted wallets.

Collect and assess the data on transactions related to P2P or unhosted wallets to determine if it is within its risk appetite.

Enhance existing risk-based control framework to account for specific risks posed by transactions related to P2P or unhosted wallets.

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20. 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:

Direct exposure

Indirect exposure

Mixing

Transaction batching

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21. What three classifications of assets does the Markets in Crypto-Assets Regulation (commonly known as MICA) apply to? (Select Three.)

Meme coins

Electronic money tokens

Privacy coins

Cryptoassets

Asset-referenced tokens

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22. Which business category below is considered to present the highest risk of money laundering?

Registered hedge fund

Pharmaceutical company

Law firm

Art dealer

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23. Which activity is most commonly associated with mixing and tumbling as a method of laundering cryptoassets?

Presence of unknown or disguised source of funds

Rapid purchase and sale of different cryptocurrencies

Use of IP address concealing software

Frequent transactions to high-risk jurisdictions via different virtual asset service providers

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24. Which FATF Recommendation specifically addresses virtual assets and VASPs?

12

15

20

22

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25. The “indirect exposure” concept in blockchain analytics means:

Funds directly linked to illicit addresses.

Funds linked via intermediary addresses.

Funds sent to OTC brokers.

Funds held in a cold wallet.

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26. An investigations manager at a cryptoasset exchange is developing an AML risk-rating framework for cryptoassets under consideration for support by the exchange.

Which criteria is most important for rating the residual AML risk of a particular cryptoasset?

Whether the blockchain of the asset is public or private

The profitability of the cryptoasset for the exchange's business

How the cryptoasset will be monitored for unusual activity

The number of other exchanges that support the cryptoasset

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27. If a VASP suspects a transaction involves a sanctioned entity, it must:

Report only if over USD 10,000

File a SAR and freeze assets if required by law

Wait for law enforcement confirmation

Cancel the customer account immediately without reporting

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28. Under FATF guidelines, VASPs must file a Suspicious Transaction Report (STR) when:

Any transaction is over $1,000

They suspect funds are linked to criminal activity, regardless of amount

A politically exposed person makes a deposit

The transaction involves an unhosted wallet

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29. The lightning network is a payment protocol built on top of the Bitcoin blockchain that:

allows users to send large payments to decentralised exchanges

allows the bridging of assets from one blockchain to another.

allows users to take advantage of no transaction fees.

allows users to conduct transactions off-chain

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30. Which type of wallet poses the highest AML risk?

Exchange hot wallet

Custodial wallet

Unhosted wallet

Multi-signature wallet

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