ACAMS Certified Global Sanctions Specialist - CGSS Free Exam Questions

A. Public domain searches of the client to confirm the client's industry.

B. The shipment details because there are countries subject to international sanctions in the client's region.

C. The ultimate beneficial owners of the exporter and importer.

D. The commercial terms of the credit to ensure the terms are not prohibited under Sectoral Sanctions' extension of debit or credit arrangements.

E. The pricing of the goods to see if they are reasonably in line with market value, determined through publicly available sources.

A. It is not subject to OFAC sanctions

B. It cannot transact through a US Bank, as it is owned by an SDN.

C. It cannot be sanctioned by OFAC because it is set up in a tax haven country.

D. It can transact freely in USD through a bank account held with a non-US Bank.

A. A team that manages the institution's screening lists

B. A team that manages risk assessments

C. A team that conducts investigations

D. A team that is from internal audit

A. Cease shipments of goods from the US to sanctioned jurisdiction and implement a more robust sanctions compliance program.

B. Advise the subsidiary to conduct this activity through another non-US financial institution to avoid sanctions violations in the future.

C. Inform management that there would be no issue since the foreign affiliated subsidiary attested that sanctions due diligence was performed.

D. Identify the purchase of dual-use goods as permissible since it involved a non-US subsidiary and shipped to non-US person.

A. Considering enforcement actions against companies that knowingly fail to do sufficient due diligence

B. Discouraging mergers and acquisitions in its framework for compliance commitment

C. Putting out joint guidance with the Securities and Exchange Commission that highlights the sanctions risks of mergers and acquisitions

D. Pursuing enforcement actions against companies that fail to do sufficient due diligence

A. Parties must commit that the transaction will be conducted in compliance with Canadian sanctions related to Iran.

B. Parties must commit to avoid mentioning or including any reference to Iran in financial transactions related to the contract.

C. Parties must commit to issue or receive all payments related to the contract via cross-border wire payments denominated in US

D. Parties must commit to comply with EU operators' obligations outlined under the EU's blocking statute.

A. Credit risk management

B. Human resources

C. Audit and testing

D. Third-party due diligence firms

A. Multiple system administrators

B. Automation of repetitive tasks

C. Identification of all data sources that require relevant data

D. Governance and management oversight

E. Matching algorithms and thresholds

F. Excess data storage capacity

A. within a non-EU country, which has a double taxation convention with all EU Member States.

B. within a non-EU country which is part of the Customs Union agreement with the EU.

C. to a company incorporated under the law of a non-EU country, that is 45% owned by a national of an EU Member State.

D. on a vessel under the jurisdiction of an EU Member State.

E. to a company outside the territory of the EU, which is incorporated or constituted under the law of an EU Member State.

A. Tune the screening tool to only generate matches to exact known spellings of sanctions targets and sanctioned jurisdictions.

B. Tune the screening tool to generate matches to variations of spellings of sanctions targets and sanctioned jurisdictions.

C. Limit the customer address and/or name data being screened to reduce the generation of false positives.

D. Limit the spelling variations of sanctioned target and jurisdiction names being screened against to reduce the generation of false positives.