Question 1

Which risk category best reflects the risks associated with payment methods (e.g., cash, wires, credit cards, virtual assets)?

Options :

A : Geographical

B : Customers

C : New technologies

D : Products and services

Answer: D

Question 2

In the context of forensic cryptocurrency investigations, which statement best describes how attribution data are collected?

Options :

A : Taken from business-maintained records.

B : Derived from public and non-public sources.

C : Gathered from a publicly available blockchain.

D : Obtained automatically from the darknet.

Answer: B

Question 3

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

Options :

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 : Assigning all such relationships as high risk and conducting enhanced due diligence on all of them

D : Gathering sufficient information on the counterpart VASP to determine the quality of the supervision it receives for transactional activities

Answer: D

Question 4

Which of the following are red flag indicators specifically related to anonymity? (Select Two.)

Options :

A : Use of decentralized or hardware wallets to transport cryptoassets across borders

B : Users utilizing mixing services

C : Use of privacy-orientated email services

D : Use of cryptoassets that are linked to fraudulent schemes

E : Users exhibiting unusual sign-on activity

Answer: A,B

Question 5

As per the Financial Action Task Force standards, which activities fall under the definition of a virtual asset service provider? (Select Three.)

Options :

A : Operation of a virtual assets mining facility

B : Exchange between one or more forms of virtual assets

C : Participation in and provision of financial services related to an initial coin offering

D : Exchange between virtual assets and fiat currencies

E : Creation of virtual assets software to issue decentralized managed virtual assets

F : Participation in and provision of financial services related to an initial public offering

Answer: B,C,D

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