CCA Study Guide 2026
Everything you need to pass the CCA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CCA Exam Format at a Glance
📚 CCA Topics to Study (21)
✍️ Sample CCA Questions & Answers
1. During an exchange audit, the auditor notices customer deposit addresses are reused for multiple clients. What is the primary audit concern?
Reusing deposit addresses across multiple customers means that on-chain data alone cannot identify which customer made a deposit, creating a complete reliance on the exchange's internal records for attribution.
2. How are cryptocurrency mining rewards taxed when first received by a US taxpayer?
Mining rewards are taxed as ordinary income at their fair market value when received and may also be subject to self-employment tax for miners operating as a business.
3. What type of income is recognized when cryptocurrency is received as payment for goods or services?
Cryptocurrency received as payment for goods or services is treated as ordinary income equal to its fair market value at the time of receipt.
4. How is a transaction verified on the blockchain?
Network nodes validate transactions using consensus mechanisms like Proof of Work or Proof of Stake.
5. Which metric is most relevant when assessing liquidity risk during an exchange audit?
Comparing hot wallet holdings to average daily withdrawal volume shows whether the exchange keeps enough liquid assets readily available to meet normal customer redemption demand.
6. When auditing a company's cryptocurrency holdings for financial statement purposes under U.S. GAAP, what is the default accounting treatment for Bitcoin held as an asset?
Under U.S. GAAP, cryptocurrency is classified as an intangible asset recorded at cost with impairment testing required when the fair value falls below carrying value, but no write-ups are permitted.