CCAS CERTIFIED CRYPTOASSET ANTI-
FINANCIAL CRIME SPECIALIST CERTIFICATION
(CCAS CERTIFICATION EXAM PREP) LATEST
QUESTIONS WITH 100% ACTUAL
SOLUTIONS!!
Which factor is most impactful to a virtual asset service provider's risk
appetite?
Age of business
Employee count
Company policy
Corporate branding Answer - Company policy
An analyst investigating a transaction monitoring alert notices several larger-
than-normal virtual asset deposits into the customer's account with an
unknown source of funds, followed by conversion to fiat currency. Which illicit
activity does this most likely indicate?
Regulatory arbitrage
Ransomware payment
,Kickback payments
Money laundering Answer - Money laundering
How could non-fungible tokens (NFTs) be vulnerable to financial crime?
NFTs can be transferred more easily than physical artwork.
Financial Crimes Enforcement Network recordkeeping authorities have a
responsibility to collect information on NFT ownership for enhanced due
diligence.
NFTs purchased using tainted funds can be sold and repurchased by criminals
to create seemingly legitimate sales records on the blockchain.
NFTs can be created anonymously, by anyone, in any jurisdiction. Answer -
NFTs purchased using tainted funds can be sold and repurchased by criminals
to create seemingly legitimate sales records on the blockchain.
What is an altcoin?
Any cryptocurrency that is not Bitcoin
Currency that has been digitized
Any virtual asset used an alternative payment method
Any cryptocurrency that is not backed by real-world value Answer - Any
cryptocurrency that is not Bitcoin
,An initial coin offering (ICO) of utility tokens provides which incentive to
investors?
Voting rights in the project
Fixed investment terms, meaning no loss of funds
Future redemption for products or services
A guaranteed profit Answer - Future redemption for products or services
Utility tokens allow speculators to redeem the token for the company's
products or services in the future.
What is the main difference between asset-backed stablecoins and algorithmic
stablecoins?
Pegging mechanism
Global supply
Issuer
Volatility Answer - Pegging mechanish
Asset-backed stablecoins are pegged to the value of collateral, while
algorithmic stablecoins are pegged to an algorithm.
How are central bank digital currencies (CBDCs) different from stablecoins?
CBDCs use blockchain technology.
CBDCs hold legal tender status.
Stablecoins use more modern technology.
Stablecoins are issued by the central monetary authority. Answer - CBDCs hold
legal tender status.
, CBDCs hold legal tender status, while stablecoins are tied to some other value.
Which business model would be considered a virtual asset service provider
(VASP) under FATF's definition?
A company that develops smart contracts which can be used to offer financial
products and services
A corporation that offers the safekeeping of cryptoassets as its main product
A group of developers who write code for a decentralized, distributed software
An e-commerce company that stores its own cryptoassets Answer - A
corporation that offers the safekeeping of cryptoassets as its main product.
According to FATF's definition, the safekeeping of cryptoassets on behalf of
others with the intention of making a profit would cause a corporation to be
categorized as a VASP.
Which statement is true about crypto ATMs?
Potential user benefits include transaction ease, speed, and privacy.
Fraud risks are lower for crypto ATMs.
A bank account is required to buy cryptocurrencies from a crypto ATM.
Crypto ATMs are required to collect identifying information from customers.
Answer - Potential user benefits include transaction ease, speed, and privacy.
The promise of crypto ATMs includes easy, fast, and potentially anonymous
transactions.
Which one of the following is an advantage of a decentralized exchange (DEX)?
FINANCIAL CRIME SPECIALIST CERTIFICATION
(CCAS CERTIFICATION EXAM PREP) LATEST
QUESTIONS WITH 100% ACTUAL
SOLUTIONS!!
Which factor is most impactful to a virtual asset service provider's risk
appetite?
Age of business
Employee count
Company policy
Corporate branding Answer - Company policy
An analyst investigating a transaction monitoring alert notices several larger-
than-normal virtual asset deposits into the customer's account with an
unknown source of funds, followed by conversion to fiat currency. Which illicit
activity does this most likely indicate?
Regulatory arbitrage
Ransomware payment
,Kickback payments
Money laundering Answer - Money laundering
How could non-fungible tokens (NFTs) be vulnerable to financial crime?
NFTs can be transferred more easily than physical artwork.
Financial Crimes Enforcement Network recordkeeping authorities have a
responsibility to collect information on NFT ownership for enhanced due
diligence.
NFTs purchased using tainted funds can be sold and repurchased by criminals
to create seemingly legitimate sales records on the blockchain.
NFTs can be created anonymously, by anyone, in any jurisdiction. Answer -
NFTs purchased using tainted funds can be sold and repurchased by criminals
to create seemingly legitimate sales records on the blockchain.
What is an altcoin?
Any cryptocurrency that is not Bitcoin
Currency that has been digitized
Any virtual asset used an alternative payment method
Any cryptocurrency that is not backed by real-world value Answer - Any
cryptocurrency that is not Bitcoin
,An initial coin offering (ICO) of utility tokens provides which incentive to
investors?
Voting rights in the project
Fixed investment terms, meaning no loss of funds
Future redemption for products or services
A guaranteed profit Answer - Future redemption for products or services
Utility tokens allow speculators to redeem the token for the company's
products or services in the future.
What is the main difference between asset-backed stablecoins and algorithmic
stablecoins?
Pegging mechanism
Global supply
Issuer
Volatility Answer - Pegging mechanish
Asset-backed stablecoins are pegged to the value of collateral, while
algorithmic stablecoins are pegged to an algorithm.
How are central bank digital currencies (CBDCs) different from stablecoins?
CBDCs use blockchain technology.
CBDCs hold legal tender status.
Stablecoins use more modern technology.
Stablecoins are issued by the central monetary authority. Answer - CBDCs hold
legal tender status.
, CBDCs hold legal tender status, while stablecoins are tied to some other value.
Which business model would be considered a virtual asset service provider
(VASP) under FATF's definition?
A company that develops smart contracts which can be used to offer financial
products and services
A corporation that offers the safekeeping of cryptoassets as its main product
A group of developers who write code for a decentralized, distributed software
An e-commerce company that stores its own cryptoassets Answer - A
corporation that offers the safekeeping of cryptoassets as its main product.
According to FATF's definition, the safekeeping of cryptoassets on behalf of
others with the intention of making a profit would cause a corporation to be
categorized as a VASP.
Which statement is true about crypto ATMs?
Potential user benefits include transaction ease, speed, and privacy.
Fraud risks are lower for crypto ATMs.
A bank account is required to buy cryptocurrencies from a crypto ATM.
Crypto ATMs are required to collect identifying information from customers.
Answer - Potential user benefits include transaction ease, speed, and privacy.
The promise of crypto ATMs includes easy, fast, and potentially anonymous
transactions.
Which one of the following is an advantage of a decentralized exchange (DEX)?
