Online Access Free CCAS Exam Questions

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

Which blockchain feature ensures that once a block is added, it cannot be altered without network consensus?

• A.Tokenization
• B.Hash immutability
• C.Peer-to-peer networking
• D.Consensus algorithm

Which first step should a VASP take upon detecting repeated transactions to a high-risk wallet?

• A.Conduct internal investigation and enhanced due diligence.
• B.Publicly disclose the wallet.
• C.Immediately freeze the account.
• D.Notify all customers.

Which Is the general consensus among Jurisdictions who have performed a national risk assessment about cryptoasset activities conducted in their countries?

• A.There Is a rising level of money laundering risks related lo cryptoasset activities
• B.With increased awareness about cryptoasset activities, the money laundering risk levels become lower.
• C.The level of money laundering risk linked to cryptoasset activities is very dependent on a country's geographical position.

In cryptoasset AML programs, "ongoing monitoring" means:

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