ACAMS Certified Global Sanctions Specialist - CGSS Exam Practice Test

A. Luxury clothing purchase B. Newspaper subscription C. Taxi ride D. Salary

A. may continue the search, however, NGOs can be indirectly impacted by sanctions. B. may continue the search so long as it complies with the restrictions from its home country's jurisdiction. C. may continue the search, as NGOs are always exempt from sanctions for humanitarian activity. D. should stop the search, as the use of designated banks is prohibited for NGOs.

A. Conduct an analysis to determine if the match is a true match. B. Include the regulatory documentation on the CDD C. Include products and services on the CDD D. Perform CDD to maintain details on the customer relationship.

A. Return the currency to the exchange owner's domain. B. Transfer to traditional fiat currency and hold such blocked property in an interest-bearing account. C. Deny access to the virtual currency and report blocked assets. D. Move the virtual currency to a centralized wallet where other blocked currencies are being held.

A. Textbooks B. Art reproductions C. Toys D. Cigars

A. The FI must have a robust screening control program with a clear strategy in place. B. The FI should ensure comprehensive training for people involved in the alert clearing process. C. The FI's management information reports should be available to everyone. D. The FI should gather the required information on a best-efforts basis. E. The FI should not consider a broader set of controls for reviewing at a later stage.

A. initiate a new transaction using a different currency from the blocked account. B. inform the local regulatory authority that the funds have been blocked. C. contact the financial institution that has blocked the funds and request a refund. D. apply for a specific license through the OFAC website.

A. concealment of the final destination. B. reorganization of ownership interests. C. sham divestment. D. consolidation of goods.

A. Parties must commit to issue or receive all payments related to the contract via cross-border wire payments denominated in US B. Parties must commit that the transaction will be conducted in compliance with Canadian sanctions related to Iran. C. Parties must commit to avoid mentioning or including any reference to Iran in financial transactions related to the contract. D. Parties must commit to comply with EU operators' obligations outlined under the EU's blocking statute.