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Exam CGSS Topic 4 Question 57 Discussion

Actual exam question for ACAMS's CGSS exam
Question #: 57
Topic #: 4
An entity that engages in a transaction under a general license issued by the Office of Foreign Assets Control (OFAC) must: (Select Two.)

Suggested Answer: B,E Vote an answer

Under OFAC regulations, when using a general license:
* The entity must ensure the transaction strictly complies with all conditions in the general license.
* The entity must ensure the activity falls within the scope of the general license.
A general license functions as pre-authorization. If the transaction satisfies its terms, no specific license is needed.
General licenses are not limited only to agricultural or medical activities-those are examples, not universal rules. Suspicious activity reports are not automatically required unless there is separate AML suspicion.
Reference:
OFAC rules governing the use and scope of general licenses.
Compliance obligations for authorized activities.

by Jo at Jan 25, 2026, 11:05 PM

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Here are all the actual test exam dumps for IT exams. Most people prepare for the actual exams with our test dumps to pass their exams. So it's critical to choose and actual test pdf to succeed.

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