Free ACAMS CCAS Exam Dumps Questions & Answers

Which is a primary benefit of blockchain transparency for AML compliance?

• A.  Reducing market volatility
• B.  Real-time price tracking
• C.  Ability to trace historical transactions
• D.  Automatic sanctions screening

Which governance function is ultimately responsible for approving AML/CFT policies?

• A.  Chief Executive Officer
• B.  MLRO
• C.  Compliance officer
• D.  Board of Directors

In cryptoasset AML programs, "ongoing monitoring" means:

• A.  Checking customer activity only when onboarding
• B.  Continuous review of transactions to detect anomalies
• C.  Only screening customers for sanctions once
• D.  Freezing all suspicious accounts

Which advantage of the proof of work consensus algorithm is widely applicable in many cryptocurrencies and other blockchain systems?

• A.  Dependency on electricity
• B.  Centralization of the consensus mechanism
• C.  Security of small networks
• D.  Verification of transactions by solving complex mathematical puzzles

Which operational risk mitigation practice by virtual asset service providers (VASPs) is most effective when considering their relationships with other VASPs?

• A.  Gathering sufficient information on the counterpart VASP to determine the quality of the supervision it receives for transactional activities
• B.  Having no requirement to establish a correspondent relationship and build a risk assessment framework among other cryptoasset exchanges prior to transferring for or on behalf of another person
• C.  Assigning all such relationships as high risk and conducting enhanced due diligence on all of them
• D.  Developing cross-border correspondent relationships with cryptoasset exchanges in jurisdictions that have weak or non-existent anti-money laundering (AML) regulation or supervision