Certified Cryptoasset Anti-Financial Crime Specialist Examination

Question 1

What is the correct risk assessment equation used in AML/CFT compliance frameworks, including for cryptoasset risk evaluations?

A. Residual Risk + Control Effectiveness = Inherent Risk

B. Inherent Risk - Control Effectiveness = Residual Risk

C. Inherent Risk - Residual Risk = Control Effectiveness

D. Inherent Risk + Control Effectiveness = Residual Risk

Correct Answer: B

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Question 2

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

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

B. Exchange digital tokens.

C. 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.

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

Correct Answer: B

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Question 3

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

A. Indirect sending to a scam cluster

B. Direct receiving from a scam cluster

C. Indirect receiving from a scam cluster

D. Direct sending to a scam cluster

Correct Answer: D

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Question 4

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

A. Automatic mixing

B. Proof-of-stake mining

C. MetaMask wallet

D. Cryptographic enhancements

E. Secure hashing algorithm 256

Correct Answer: A,D

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Question 5

Which metric is most relevant for assessing liquidity risk in a cryptoasset exchange?

A. Wallet address count

B. Order book depth and spread

C. Number of listed tokens

D. Blockchain confirmation times

Correct Answer: B

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Question 6

Which blockchain type is accessible only to a single organization?

A. Hybrid

B. Public

C. Consortium

D. Private

Correct Answer: D

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Question 7

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

A. Located in a jurisdiction with increased regulatory expectations

B. Evaluated for beneficial ownership of virtual asset clients

C. Subjected to AML regulations

D. Maintaining effective monitoring systems.

E. Connected with a regulated financial institution.

Correct Answer: C,D

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Question 8

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

A. Litecoin

B. Monero

C. Ethereum

D. Bitcoin

Correct Answer: C

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ACAMS Certified Cryptoasset Anti-Financial Crime Specialist Examination - CCAS Exam Practice Test

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