CCAS Practice Questions
Prepare for CCAS with more than an answer.
- Exam fee
- $1995 USD
- Level
- Specialist
- Valid for
- 3 years
Domains covered on the exam 3
- Cryptoassets and Blockchain30%
- AML Foundations for Cryptoassets and Blockchain35%
- Risk Management Programs for Cryptoassets and Blockchain35%
- 1
What is the primary function of a 'bridge' in the cryptocurrency ecosystem, and why does it represent a significant financial crime risk?
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Correct answer: B
Bridges lock assets on one chain and mint equivalent wrapped tokens on another. Criminals use them for 'chain hopping'—moving funds to a different blockchain to confuse investigators and evade tracing tools that may not track cross-chain flows effectively.
- 2
A user sends USDT (Tether) from their wallet to an exchange. This transaction takes place on the Ethereum network. What type of token standard is this USDT most likely using?
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Correct answer: A
ERC-20 is the technical standard for fungible tokens on the Ethereum blockchain. USDT on Ethereum is implemented as an ERC-20 token.
- 3
In the context of blockchain analytics, what is 'Demixing'?
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Correct answer: C
Demixing attempts to undo the obfuscation of mixing services. Analysts look for user error (e.g., address reuse, predictable output amounts) to link inputs and outputs that were supposed to be anonymized.
- 4
A compliance analyst at a Virtual Asset Service Provider (VASP) is reviewing a Bitcoin transaction flow using a blockchain analytics tool. The analyst observes a pattern where a large input amount is held in a single address, and over time, small fixed amounts are transferred to various exchange addresses, while the remaining significant balance is continually moved to a new change address. This pattern repeats for dozens of hops. Which specific obfuscation technique or transaction pattern is the analyst most likely observing?
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Correct answer: D
A 'Peel Chain' is a common transaction pattern where a large amount of crypto held in one address is 'peeled' off in small amounts over a long series of transactions. The remaining balance (change) is moved to a new address each time, creating a long chain. This is often used to structure funds or make tracing more tedious.
- 5
A cryptocurrency exchange is configuring its Unspent Transaction Output (UTXO) management system. When analyzing the Bitcoin blockchain, which fundamental characteristic distinguishes the UTXO model from the Account-based model used by Ethereum?
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Correct answer: C
The UTXO (Unspent Transaction Output) model, used by Bitcoin, does not store wallet balances directly. Instead, a user's balance is the sum of all unspent outputs they can unlock. The Account model (Ethereum) stores balances as a state associated with an address.
- 6
Which of the following consensus mechanisms relies on validators locking up a specific amount of native cryptocurrency as collateral to propose and validate new blocks, rather than expending computational energy?
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Correct answer: C
Proof of Stake (PoS) requires validators to stake (lock) their coins. If they validate maliciously, they risk losing their stake (slashing). This contrasts with Proof of Work, which relies on computational power (mining).
