CCAS PDF Dumps | Dec 11, 2025 Recently Updated Questions
CCAS Exam Questions – Valid CCAS Dumps Pdf
ACAMS CCAS Exam Syllabus Topics:
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NEW QUESTION # 38
Which are common red flags that indicate fraudulent activity in a decentralized finance marketplace? (Select Two.)
- A. A non-fungible token is shared privately among a community of supporters via a non-fungible token airdrop; it is not linked to a specific web address to allow for trading.
- B. A coin is launched using an untested protocol; only a small number of wallets control the supply.
- C. A coin is launched, has a low social media presence, has many wallet addresses controlling its supply, and has an original white paper published.
- D. A token is introduced, is endorsed by high-profile celebrities, and the price of the coin steadily rises; there is no significant activity of selling the coin.
- E. A crypto entity is launched, has a bustling social media presence, and offers limited free non-fungible token incentives in exchange for new customer trading.
Answer: A,B
Explanation:
Red flags include private sharing of NFTs without public trading (A), indicating potential lack of transparency, and new coins with untested protocols controlled by few wallets (C), signaling possible manipulation or fraud.
Tokens endorsed by celebrities with price increases (D) or active social media presence (E) are less directly indicative of fraud but require monitoring. Low social media presence with wide ownership and original whitepapers (B) is typically less suspicious.
NEW QUESTION # 39
Under DIFC AML rules, which governance body must approve the firm's business-wide risk assessment?
- A. Chief Technology Officer
- B. Compliance department
- C. Internal audit team
- D. Board of Directors
Answer: D
Explanation:
DFSA AML Module requires the Board to approve and oversee the firm's business-wide risk assessment, ensuring accountability at the highest governance level.
NEW QUESTION # 40
Under the risk-based approach, firms must:
- A. Avoid onboarding high-risk customers
- B. Apply the same level of due diligence to all customers
- C. Only monitor transactions over USD 10,000
- D. Adjust controls based on customer and transaction risk level
Answer: D
Explanation:
The risk-based approach requires tailoring AML/CFT controls to the level of assessed risk, enhancing due diligence for higher-risk customers.
NEW QUESTION # 41
Which consensus mechanism uses staked tokens to validate transactions instead of computational power?
- A. Proof-of-Work
- B. Proof-of-Stake
- C. Byzantine Fault Tolerance
- D. Delegated Ledger Approval
Answer: B
Explanation:
Proof-of-Stake (PoS) replaces the energy-intensive mining process of Proof-of-Work by allowing validators to secure the network based on the amount of cryptocurrency they "stake" as collateral. Validators are rewarded for correctly validating transactions and risk losing their stake if they act dishonestly. Regulatory AML/CFT programs must consider validator concentration risks and the jurisdictional exposure of validators in PoS systems.
NEW QUESTION # 42
Which business category below is considered to present the highest risk of money laundering?
- A. Pharmaceutical company
- B. Law firm
- C. Registered hedge fund
- D. Art dealer
Answer: D
Explanation:
Art dealers present a high money laundering risk due to the subjective valuation of art, ease of transferring assets, and the potential for using art as a vehicle to conceal illicit funds.
Registered hedge funds (A) and law firms (C) have AML obligations but are generally more regulated. Pharmaceutical companies (B) are less associated with high ML risk.
The DFSA AML and FATF typology papers specifically identify art dealing as a sector with heightened ML risk.
NEW QUESTION # 43
Which level of an organization is ultimately responsible for risk oversight?
- A. Board of directors
- B. 2nd line compliance team
- C. 1st line compliance team
- D. Chief risk officer
Answer: A
Explanation:
The ultimate responsibility for risk oversight lies with the Board of Directors. Senior management and the board have the fiduciary and governance duty to ensure that an effective risk management framework, including AML/CFT controls and cryptoasset-specific risks, is in place and functioning properly.
The DFSA GEN Module and AML Module explicitly allocate the highest accountability for compliance and risk oversight to the Board of Directors, while first and second lines support implementation and oversight respectively. The Chief Risk Officer (CRO) supports risk management but the board maintains ultimate accountability.
Key extracts:
GEN Module, Chapter 5: "Responsibility for compliance lies with every member of senior management, with ultimate oversight by the Board." AML Module Section 1.2 & 4.1: "Senior management and Board must ensure appropriate systems and controls for AML/CFT risk management." FATF Recommendation 2 underscores that senior management and boards are accountable for effective AML governance【GEN/VER64/05-24: Chapter 5; AML/VER25/05-24: Sections 1.2, 4.1】.
Thus, D is the correct answer.
NEW QUESTION # 44
As per the Financial Action Task Force standards, which activities fall under the definition of a virtual asset service provider? (Select Three.)
- A. Creation of virtual assets software to issue decentralized managed virtual assets
- B. Participation in and provision of financial services related to an initial coin offering
- C. Participation in and provision of financial services related to an initial public offering
- D. Exchange between one or more forms of virtual assets
- E. Exchange between virtual assets and fiat currencies
- F. Operation of a virtual assets mining facility
Answer: B,D,E
Explanation:
FATF defines VASPs as entities that conduct one or more of the following activities:
Exchanging one or more forms of virtual assets (B),
Providing financial services related to initial coin offerings (ICOs) (C), Exchanging virtual assets for fiat currencies or vice versa (D).
Mining operations (A) and software creation (E) are excluded from the VASP definition as they do not involve financial intermediation. Initial public offerings (IPOs) (F) pertain to traditional securities and are outside the scope of VASP activities.
This definition aligns with FATF Recommendation 15 and DFSA regulatory frameworks.
NEW QUESTION # 45
A suspicious activity report was filed in the EU for a local company account that held funds generated by the sale of product coupons. A review of the account highlighted a login from an unconnected IP address. Despite repeated requests, the customer failed to provide information on the origins of the funds. Which is the main red flag here?
- A. Virtual asset service providers outside of the EU are being relied upon.
- B. There is a failure to cooperate with the source of funds requests.
- C. Funds are generated by the sale of coupons which are connected to a physical product.
- D. An IP address is being used that is not previously connected to that customer.
Answer: B
Explanation:
The main red flag is the customer's failure to cooperate with requests to provide information on the origin of funds, which undermines transparency and raises suspicion regarding the legitimacy of the funds.
While an unconnected IP address (D) is suspicious, non-cooperation (C) is a stronger indicator of potential money laundering.
NEW QUESTION # 46
Which token type should be considered as carrying the highest risk when assessing the AML risks related to the customer's source of funds?
- A. Stablecoin
- B. Platform
- C. Privacy
- D. Security
Answer: C
Explanation:
Privacy tokens are specifically designed to obfuscate transaction details such as sender, recipient, and amounts, making them inherently high risk for money laundering and terrorist financing. Their anonymity-enhanced features pose significant challenges to AML efforts.
Stablecoins (B), platform tokens (C), and security tokens (D) have varying risk profiles but generally provide more transparency or are subject to regulatory frameworks, reducing inherent AML risk compared to privacy tokens.
FATF and DFSA AML frameworks highlight privacy tokens as a priority for enhanced due diligence and risk mitigation due to their abuse potential.
NEW QUESTION # 47
Which term describes converting one cryptoasset into another without first converting to fiat?
- A. Layering
- B. Integration
- C. Chain hopping
- D. Structuring
Answer: C
Explanation:
Chain hopping involves moving between blockchains to make tracing harder, often exploiting regulatory gaps.
NEW QUESTION # 48
What is a "smart contract"?
- A. A self-executing code stored on blockchain.
- B. A compliance monitoring tool.
- C. A legal agreement stored offline.
- D. A cold storage wallet type.
Answer: A
Explanation:
Smart contracts execute predetermined conditions automatically on blockchain, enabling decentralized applications and services.
NEW QUESTION # 49
Which type of blockchain is jointly operated by multiple pre-approved organizations?
- A. Public
- B. Hybrid
- C. Consortium
- D. Private
Answer: C
Explanation:
Consortium blockchains are semi-private networks where governance is shared among authorized participants, offering a balance between decentralization and access control.
NEW QUESTION # 50
An exchange uses blockchain analytics to identify high-risk wallet clusters. This is an example of:
- A. On-chain forensic analysis
- B. KYC
- C. Custodial control
- D. Transaction screening
Answer: A
Explanation:
On-chain forensic analysis uses blockchain data to detect illicit wallet patterns and cluster associations.
NEW QUESTION # 51
Which is the most important consideration when assessing compromise risks when creating a decentralized finance protocol or smart contract?
- A. Code uniqueness
- B. Dual authentication protocols
- C. Government regulation
- D. Security token standard
Answer: A
Explanation:
Code uniqueness is critical because reuse or replication of vulnerable code exposes protocols to known exploits. Unique, well-audited, and secure code minimizes compromise risk in decentralized finance (DeFi) and smart contracts.
Security standards (A), authentication (B), and regulation (C) are important but secondary to the fundamental security of the code itself.
NEW QUESTION # 52
Which type of cryptoasset is explicitly designed to maintain a stable value?
- A. Utility token
- B. Governance token
- C. Privacy coin
- D. Stablecoin
Answer: D
Explanation:
Stablecoins aim to maintain value stability by pegging to assets like fiat currency or commodities. Regulators stress monitoring stablecoin reserve transparency to prevent misuse for layering illicit funds.
NEW QUESTION # 53
What three classifications of assets does the Markets in Crypto-Assets Regulation (commonly known as MICA) apply to? (Select Three.)
- A. Meme coins
- B. Privacy coins
- C. Cryptoassets
- D. Electronic money tokens
- E. Asset-referenced tokens
Answer: C,D,E
Explanation:
The EU's Markets in Crypto-Assets Regulation (MICA) applies specifically to:
Electronic Money Tokens (B): Tokens that fulfill the definition of electronic money under the E-Money Directive.
Cryptoassets (D): Broad category including digital representations of value that are not covered by existing financial services legislation.
Asset-Referenced Tokens (E): Tokens that purport to maintain a stable value by referencing one or several assets.
Meme coins (A) and privacy coins (C) are not separately classified under MICA but may fall under broader cryptoasset categories subject to other regulations.
NEW QUESTION # 54
Which type of blockchain is jointly operated by multiple pre-approved organizations?
- A. Public
- B. Hybrid
- C. Consortium
- D. Private
Answer: C
Explanation:
Consortium blockchains are semi-private networks where governance is shared among authorized participants, offering a balance between decentralization and access control.
NEW QUESTION # 55
Which blockchain features built-in privacy measures to prevent tracing and conceal ownership and flow of illicit funds?
- A. Polygon
- B. Cardano
- C. Monero
- D. Ethereum
Answer: C
Explanation:
Monero is a privacy-focused blockchain designed with built-in features like ring signatures, stealth addresses, and confidential transactions to obfuscate sender, receiver, and transaction amounts, making tracing difficult.
Cardano, Polygon, and Ethereum are not designed primarily with these privacy features and have publicly traceable ledgers, although privacy solutions may be layered on.
NEW QUESTION # 56
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. Gathering sufficient information on the counterpart VASP to determine the quality of the supervision it receives for transactional activities
- C. Developing cross-border correspondent relationships with cryptoasset exchanges in jurisdictions that have weak or non-existent anti-money laundering (AML) regulation or supervision
- D. Assigning all such relationships as high risk and conducting enhanced due diligence on all of them
Answer: B
Explanation:
Effective risk mitigation requires VASPs to obtain sufficient information about counterpart VASPs to assess the quality of their regulatory supervision and controls. This helps determine the risk of transactions and build a risk-based framework for correspondent relationships.
Having no requirements (A) or engaging with poorly regulated jurisdictions (B) increases risk. Blanket high-risk classification (C) without proper assessment is inefficient.
FATF Recommendation 15 and DFSA guidance emphasize due diligence on counterparties as a critical control.
NEW QUESTION # 57
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. Maintaining effective monitoring systems.
- C. Subjected to AML regulations
- D. Located in a jurisdiction with increased regulatory expectations
- E. Evaluated for beneficial ownership of virtual asset clients
Answer: B,C
Explanation:
To effectively mitigate money laundering risks in the virtual asset sector, countries must ensure that Virtual Asset Service Providers (VASPs) are subject to AML regulations (B), which provide the legal framework for risk-based customer due diligence and reporting suspicious activities. Additionally, VASPs must maintain effective monitoring systems (C) that enable the detection and reporting of suspicious transactions.
While connection to regulated financial institutions (A) and beneficial ownership evaluation (E) are important components of AML frameworks, the foundational requirements per FATF and DFSA guidance focus on regulatory oversight and operational controls.
Jurisdictional regulatory expectations (D) influence enforcement but do not replace the need for direct AML regulatory application on VASPs.
NEW QUESTION # 58
Which metric is most relevant for assessing liquidity risk in a cryptoasset exchange?
- A. Number of listed tokens
- B. Order book depth and spread
- C. Wallet address count
- D. Blockchain confirmation times
Answer: B
Explanation:
Liquidity risk assessment focuses on the ability to execute trades without large price swings, which is reflected in order book depth and bid-ask spreads.
NEW QUESTION # 59
A compliance officer at an exchange who is conducting an annual risk assessment identifies an increased volume of transactions to and from unhosted wallets. Based on Financial Action Task Force guidance, which inherent risk rating would be most appropriate for the compliance officer to assign to such activities?
- A. High
- B. Low
- C. Moderate
- D. Negligible
Answer: A
Explanation:
The Financial Action Task Force (FATF) guidance on Virtual Assets and Virtual Asset Service Providers (VASPs) explicitly highlights that transactions involving unhosted wallets (wallets not held or controlled by a regulated entity) pose a high inherent risk for money laundering and terrorist financing. This is because unhosted wallets are more difficult to monitor and control, lack identifiable customer information, and are often exploited for illicit activities.
The DFSA AML Module, aligned with FATF recommendations, mandates that Relevant Persons incorporate this risk into their business-wide risk assessments. The increased volume of transactions to and from unhosted wallets should therefore be assigned a high inherent risk rating to trigger enhanced controls such as enhanced due diligence (EDD) and transaction monitoring.
Supporting extracts include:
FATF Guidance on Virtual Assets (October 2021) states: "Unhosted wallets or transactions with them represent a high risk of ML/TF due to limited or no access to identifying information." DFSA AML Module (AML/VER25/05-24) Section 4.1 & 6.1 on Risk-Based Approach: mandates firms to assess and rate risks posed by customers and products, explicitly including virtual assets and unhosted wallets as high risk.
COB Module also requires heightened controls and disclosures when dealing with transactions involving unhosted wallets【AML/VER25/05-24: Sections 4.1, 6.1, COB/VER45/05-24: Sections 6.13, 15.6】.
Thus, option D (High) is the correct risk rating.
NEW QUESTION # 60
Which is the discipline of risk management related to the risk of algorithms, machine learning, and artificial intelligence within the transaction monitoring and screening software that a virtual asset service provider acquires from a vendor?
- A. Model risk management
- B. Vendor risk management
- C. Operational risk management
- D. IT security risk management
Answer: A
Explanation:
Model risk management is the discipline focused on managing risks arising from the use of models, including those based on algorithms, machine learning, and AI in transaction monitoring and screening software.
DFSA and global AML frameworks highlight the need for strong model risk governance to ensure accurate detection and compliance.
NEW QUESTION # 61
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