Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

Acams CCAS Exam - Topic 2 Question 19 Discussion

Which operational risk mitigation practice by virtual asset service providers (VASPs) is most effective when considering their relationships with other VASPs?
D) Gathering sufficient information on the counterpart VASP to determine the quality of the supervision it receives for transactional activities
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

Acams CCAS Exam - Topic 2 Question 19 Discussion

Actual exam question for Acams's CCAS exam
Question #: 19
Topic #: 2
[All CCAS Questions]

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

Show Suggested Answer Hide Answer
Suggested Answer: D

Effective risk mitigation requires VASPs to obtain sufficient information about counterpart VASPs to assess the quality of their regulatory supervision and controls. This helps determine the risk of transactions and build a risk-based framework for correspondent relationships.

Having no requirements (A) or engaging with poorly regulated jurisdictions (B) increases risk. Blanket high-risk classification (C) without proper assessment is inefficient.

FATF Recommendation 15 and DFSA guidance emphasize due diligence on counterparties as a critical control.


by Harley at Jul 18, 2026, 09:32 PM

Limited Time Offer

25%

Off

Get Premium CCAS Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Pura
2 days ago
I’m uncertain about the effectiveness of cross-border relationships in option B, especially with weak AML regulations. It seems risky!
upvoted 0 times
...
Gilberto
7 days ago
I feel like we went over a similar question where gathering information on counterparties was emphasized, so I might lean towards D.
upvoted 0 times
...
Stacey
13 days ago
I think option C makes sense because treating all relationships as high risk could help mitigate potential issues, but it seems a bit extreme.
upvoted 0 times
...
Margarita
18 days ago
I remember we discussed the importance of due diligence in our last study group, but I'm not sure if option D is the best choice here.
upvoted 0 times
...

Save Cancel