Online Access Free CCAS Practice Test

An exchange uses blockchain analytics to identify high-risk wallet clusters. This is an example of:

• A.On-chain forensic analysis
• B.Custodial control
• C.Transaction screening
• D.KYC

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

• A.Participation in and provision of financial services related to an initial public offering
• B.Exchange between virtual assets and fiat currencies
• C.Participation in and provision of financial services related to an initial coin offering
• D.Operation of a virtual assets mining facility
• E.Creation of virtual assets software to issue decentralized managed virtual assets
• F.Exchange between one or more forms of virtual assets

Under FATF guidelines, VASPs must file a Suspicious Transaction Report (STR) when:

• A.Any transaction is over $1,000
• B.A politically exposed person makes a deposit
• C.They suspect funds are linked to criminal activity, regardless of amount
• D.The transaction involves an unhosted wallet

What is the most pertinent item for a cryptoasset money services business to include in a suspicious activity report?

• A.The aggregate total amount of fiat currency used by the subject to purchase cryptocurrency
• B.The names of every owner of the destination wallet address(es) to which the subject sent transactions during the review period
• C.All types of cryptocurrencies purchased by the subject, including aggregate total of each and fiat currency equivalent
• D.The subject's account onboarding information not otherwise included in the counter-party information section

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

• A.Connected with a regulated financial institution.
• B.Located in a jurisdiction with increased regulatory expectations
• C.Subjected to AML regulations
• D.Evaluated for beneficial ownership of virtual asset clients
• E.Maintaining effective monitoring systems.