Certified Cryptoasset Anti-Financial Crime Specialist Examination (CCAS) Free Practice Test

Question 1

A compliance officer is conducting an AML risk assessment of two different operating models: a centralized cryptoasset exchange and a decentralized cryptoasset exchange. Which key difference causes the compliance officer to risk-rate the decentralized exchange higher than the centralized exchange?

A. The cost of each transaction

B. The number of validator nodes

C. The lack of a central counterparty

D. The supported asset types

Correct Answer: C

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 2

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

A. Inherent Risk - Control Effectiveness = Residual Risk

B. Inherent Risk + Control Effectiveness = Residual Risk

C. Inherent Risk - Residual Risk = Control Effectiveness

D. Residual Risk + Control Effectiveness = Inherent Risk

Correct Answer: A

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 3

Which cryptoasset type is most associated with anonymity risk?

A. Governance token

B. Stablecoin

C. Privacy coin

D. Security token

Correct Answer: C

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 4

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

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

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

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

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

Correct Answer: A

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 5

The "indirect exposure" concept in blockchain analytics means:

A. Funds held in a cold wallet.

B. Funds linked via intermediary addresses.

C. Funds directly linked to illicit addresses.

D. Funds sent to OTC brokers.

Correct Answer: B

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 6

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. Direct sending to a scam cluster

D. Indirect receiving from a scam cluster

Correct Answer: C

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 7

Which is an example of "structuring" in crypto transactions?

A. Sending multiple sub-threshold transactions to avoid reporting.

B. Engaging in staking.

C. Using a decentralized exchange.

D. Exchanging one crypto for another.

Correct Answer: A

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 8

In cryptoasset compliance, "integration" refers to:

A. Converting illicit crypto into fiat or legitimate assets.

B. Mixing crypto to hide origins.

C. Staking assets to earn rewards.

D. Transferring crypto between wallets.

Correct Answer: A

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Question 9

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?

A. Cryptocurrency mining operations

B. Safekeeping and/or administration of virtual assets and exchange between one or more forms of virtual assets

C. Operating blockchain nodes

D. Virtual money service businesses

Correct Answer: B

Explanation: Only visible for TestSimulate members. You can sign-up / login (it's free).

Welcome to TestSimulate

ACAMS Certified Cryptoasset Anti-Financial Crime Specialist Examination (CCAS) Free Practice Test