Examination Details
Perspective: United States. The examination is prepared from the perspective of an investigator/analyst or risk manager working in an institution required to adhere to the laws of the United States, applicable state laws, and regulations of the US Department of the Treasury and other US national and state regulating agencies.
Format: The examination consists of 50 multiple choice questions. Test-takers will only see each question one time. The examination is not timed but questions will expire and be marked as a “no answer – incorrect” after 240 seconds has passed without an answer.
Requirements: To be successful, the test-taker must score at least 80% overall and no more than 2 questions incorrectly answered in any level. There are 5 levels with 10 questions each.
Design: The exam was written, reviewed, critiqued, re-written, finalized and deployed by subject matter experts with real-world experience in crypto, finance, business, government, and academia. The questions on the examination are concise, clear, and unambiguous in presentation. There are no ‘gotcha’ or trick questions. The questions are not about obscure, meaningless, or trivial issues. All of the questions are actually meaningful. There is always one ‘most correct’ answer to each question with definitive and authoritative citations to back it up.
Sources: Examination material was drawn primarily from these sources, but this list is not all inclusive.
Sample Question 1:
The Financial Crimes Enforcement network describes individuals or entities engaged in the act of exchanging fiat currencies for virtual currencies and/or exchanging one virtual currency for another virtual currency and operating informally or through online classified advertisements, social media, online forums, or through word of mouth as:
A. Informal Value Transfer Networks
B. Unregistered Peer to Peer Exchangers
C. Cryptocurrency Exchanges
D. Money Services Businesses
FinCEN AdvisorySample Question 2:
As a supervisor of an AML Investigations team at a cryptocurrency exchange you are asked to build a set of investigative procedures governing the conduct of AML investigations, quality controls, and timely drafting and submission of Suspicious Activity Reports (SAR) and SARs for continuing activity to the Financial Crimes Enforcement Network (FinCEN). What is the maximum amount of time the institution is allowed to wait before filing a SAR for continuing activity if suspicious activity is detected that was not reported in the initial SAR?
A. SARs for continuing activity are not required to be filed by cryptocurrency exchanges.
B. 90 days after the initial SAR filing.
C. 120 days after detection of the suspicious activity.
D. 120 days after the initial SAR filing.
FinCEN FAQIf you're ready to take the examination now, just connect your wallet:
We look forward to you joining the ranks of holders of the SDC-CCI
