Practice Test Geeks(CCA) Certified Cryptocurrency Auditor Practice Test
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Regulatory Compliance & Reporting Flashcards

7 cards from real CCA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. Under FinCEN's 2019 guidance, which activity requires a cryptocurrency exchange to register as a Money Services Business (MSB)?

    Answer: Exchanging virtual currency for fiat on behalf of customers

    FinCEN requires entities that exchange virtual currency for real currency, funds, or other virtual currency on behalf of others to register as MSBs.

  2. Which threshold triggers an automatic Currency Transaction Report (CTR) filing requirement under U.S. BSA rules?

    Answer: $10,000 in cash transactions within a business day

    The BSA requires filing a CTR for cash transactions exceeding $10,000 in a single business day by or for any person.

  3. The FATF 'Travel Rule' for virtual assets requires VASPs to transmit which information alongside transfers?

    Answer: Originator and beneficiary identifying information

    FATF Recommendation 16 requires VASPs to collect, verify, and transmit originator and beneficiary information with virtual asset transfers.

  4. A cryptocurrency auditor discovers a client is structuring transactions to avoid CTR thresholds. This activity is known as:

    Answer: Structuring (smurfing)

    Structuring, also called smurfing, is the illegal practice of breaking up transactions specifically to evade BSA reporting thresholds.

  5. Under the EU's MiCA (Markets in Crypto-Assets) regulation, which entity type is required to obtain authorization before operating?

    Answer: Crypto-Asset Service Providers (CASPs)

    MiCA requires Crypto-Asset Service Providers to obtain authorization from a competent national authority before providing services in the EU.

  6. Which U.S. form must a person file when holding more than $10,000 in foreign financial accounts, including some crypto accounts, at any time during the calendar year?

    Answer: FBAR (FinCEN Form 114)

    FinCEN Form 114, the FBAR, must be filed when aggregate foreign financial account balances exceed $10,000 at any point during the year.

  7. In the context of crypto compliance, a 'de-risking' strategy by a financial institution typically means:

    Answer: Terminating or refusing banking relationships with crypto businesses

    De-risking refers to banks exiting or refusing to serve entire categories of customers perceived as high-risk, such as VASPs, rather than managing individual risk.