CCAS Exam Dumps (V8.02) for Your Certified Crypto Asset Anti-Financial Crime Specialist Certification (CCAS) Exam Preparation

1. Which advantage of the proof of work consensus algorithm is widely applicable in many cryptocurrencies and other blockchain systems?

2. Which operational risk mitigation practice by virtual asset service providers (VASPs) is most effective when considering their relationships with other VASPs?

3. Which features are used by anonymity-enhanced cryptoassets to reduce transparency of transactions and identities? (Select Two.)

4. Which token type should be considered as carrying the highest risk when assessing the AML risks related to the customer's source of funds?

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

6. 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?

7. What Is the purpose of applying learning (ML) or artificial Intelligence (Al) within a compliance framework? (Select two.)

8. Which is the discipline of risk management related to the risk of algorithms, machine learning, and artificial intelligence within the transaction monitoring and screening software that a virtual asset service provider acquires from a vendor?

9. An analyst at a virtual asset service provider (VASP) that white-labels its exchange solution to other cross-border VASPs is developing a VASP onboarding procedure.

Under Financial Action Task Force Recommendation 13, which CDD practices should be applied to such relationships? (Select Three.)

10. A compliance officer Is assigned a group of customers.

Which action should the officer fake to determine the appropriate level of customer due diligence apply to each customer?

11. According to the Financial Action Task Force report, "Virtual Assets Red Flag Indicators", which activity is a red flag related to anonymity?

12. Which statement regarding cryptocurrencies, digital assets, and blockchain is correct?

13. 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?

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

15. Which key differences between the Bitcoin and Ethereum blockchains must investigators consider when investigating flows of funds on each respective chain? (Select Two.)

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

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

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

18. Which statement describes what a staff member should do If suspicious activity is identified?

19. Which level of an organization is ultimately responsible for risk oversight?

20. In considering particular virtual asset products, services, or activities, which features should be considered by management?

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

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

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

24. Which virtual asset relies on an account-based ledger model?

25. What is indirect exposure in regards to blockchain analytics transaction monitoring?

26. When enhances international cooperation with regard to law enforcement investigations of virtual asset (VA) crimes?

27. 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.)

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

29. In a blockchain 51% attack, what does 51% refer to?

30. A virtual asset service provider (VASP) is using public information on the blockchain to trace a wallet address.

Which additional step is necessary to identify the owner or controller of that address?

31. Which Is the general consensus among Jurisdictions who have performed a national risk assessment about cryptoasset activities conducted in their countries?

32. 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:

33. To identify and assess the money laundering risks emerging from virtual assets, countries should ensure that virtual asset service providers are: (Select Two.)

34. What is the intention of the Financial Action Task Force's (FATF's) Travel Rule?

35. Misconfigured smart contracts can allow which type of scam to occur?

36. Based on Financial Action Task Force guidance, when a cryptoasset exchange carries out an occasional transaction, the exchange is required to conduct CDD when the transaction is above:

37. A compliance officer at an exchange who is conducting an annual risk assessment identifies an increased volume of transactions to and from unhosted wallets. Based on Financial Action Task Force guidance, which inherent risk rating would be most appropriate for the compliance officer to assign to such activities?

38. Which of the following are red flag indicators specifically related to anonymity? (Select Two.)

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

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