Free CCAS Exam Dumps

Question 11

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?

A. Whether the blockchain of the asset is public or private
B. The profitability of the cryptoasset for the exchange's business
C. How the cryptoasset will be monitored for unusual activity
D. The number of other exchanges that support the cryptoasset

Correct Answer:C

Question 12

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?

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

Correct Answer:B

Question 13

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

A. Exchange digital tokens.
B. Provide the delivery, communication, or network access services to only support money transmission services.
C. Operate a clearance and settlement system or otherwise act as intermediaries solely between Bank Secrecy Act-regulated institutions.
D. 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.

Correct Answer:A

Question 14

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

A. Cryptocurrencies use encryption techniques operating independently from a central bank.
B. Cryptocurrencies and blockchain are the same and are terms used interchangeably.
C. Digital assets can only operate on a blockchain.
D. Cryptocurrencies, blockchain, and digital assets can all be used as a means of payment.

Correct Answer:A

Question 15

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

A. Indirect receiving from a scam cluster
B. Indirect sending to a scam cluster
C. Direct sending to a scam cluster
D. Direct receiving from a scam cluster

Correct Answer:C