Free ACAMS CCAS Exam Dumps Questions & Answers

Which type of blockchain is jointly operated by multiple pre-approved organizations?

• A.  Public
• B.  Consortium
• C.  Private
• D.  Hybrid

The "indirect exposure" concept in blockchain analytics means:

• A.  Funds sent to OTC brokers.
• B.  Funds held in a cold wallet.
• C.  Funds directly linked to illicit addresses.
• D.  Funds linked via intermediary addresses.

A client at a virtual asset service provider (VASP) opened a wallet four weeks earlier with 201,000 USD. The client received a Bitcoin transfer for a total of 565,400 USD. Which is the strongest indication of an illicit source of funds for the client?

• A.  The client declared a total wealth of 600,000 USD at account opening.
• B.  Incoming funds moved through five intermediary wallets before being transferred from a foreign VASP.
• C.  It was not possible to trace the client's IP address.
• D.  Two days after opening the wallet, the client transfers 199,000 USD to a third party.

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

• A.  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
• B.  Developing cross-border correspondent relationships with cryptoasset exchanges in jurisdictions that have weak or non-existent anti-money laundering (AML) regulation or supervision
• C.  Gathering sufficient information on the counterpart VASP to determine the quality of the supervision it receives for transactional activities
• D.  Assigning all such relationships as high risk and conducting enhanced due diligence on all of them

Under the risk-based approach, firms must:

• A.  Avoid onboarding high-risk customers
• B.  Adjust controls based on customer and transaction risk level
• C.  Apply the same level of due diligence to all customers
• D.  Only monitor transactions over USD 10,000