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CCAS Acams Certified Cryptoasset Anti-Financial Crime Specialist Examination

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  • 8 free sample questions

About this exam

CCAS is the Acams exam Acams Certified Cryptoasset Anti-Financial Crime Specialist Examination. Paid practice material for this exam is not available yet, but you can try its free sample questions.

Exam code
CCAS
Vendor
Acams
Practice questions
Not available yet
Free sample questions
8
Question bank last updated
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Try 2 sample questions

Taken from the free sample set for CCAS.

Question 1

Which level of an organization is ultimately responsible for risk oversight?

  1. Option A:
    1st line compliance team 
  2. Option B:
    2nd line compliance team 
  3. Option C:
    Chief risk officer 
  4. Option D:
     Board of directors 
Show answer and explanation

Correct answer: D

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. 

Question 2

What is indirect exposure in regards to blockchain analytics transaction monitoring? 

  1. Option A:
    The crypto assets are absolutely linked to a specific user and identity on the blockchain.
  2. Option B:
    The crypto assets have a connection to risky activity via another crypto address or addresses.
  3. Option C:
    The crypto assets went through a mixing protocol to conceal source of funds.
  4. Option D:
    The fiat currency is not immediately linked to a known bank account
Show answer and explanation

Correct answer: B

Indirect exposure refers to a situation where cryptoassets are not directly associated with illicit activity but have transactional links through other addresses that are associated with risky or illicit behavior. Blockchain analytics tools detect these indirect links to flagged addresses, allowing firms to assess risk based on network connections rather than direct ownership or activity. The DFSA AML guidance and international FATF Virtual Assets guidance explain that indirect exposure is a critical concept for transaction monitoring as it broadens the detection scope beyond direct transactions, flagging assets that might be “tainted” through intermediary addresses. Reference: FATF Guidance on Virtual Assets and VASPs emphasizes monitoring both direct and indirect exposure of wallets to illicit activity. DFSA AML Module Section 13 on Suspicious Activity Reports requires firms to incorporate indirect exposure assessments in their monitoring systems【AML/VER25/05-24: Sections 4.1, 6.3, 13.3; FATF VA Guidance 2021】. Therefore, B is the correct definition. 
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