Certification ACAMS CGSS Exam Infor | CGSS Test Pdf

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ACAMS CGSS Exam Syllabus Topics:

Section	Weight	Objectives
Sanctions Due Diligence	20%	- Enhanced due diligence for high-risk scenarios - Ongoing monitoring and record keeping - Customer and counterparty due diligence requirements - Risk assessment and categorization
Governance and Enforcement	25%	- Regulatory bodies and authorities - Compliance obligations and governance structures - International sanctions frameworks - Enforcement mechanisms and penalties
Sanctions Evasion Techniques	17.5%	- Digital and emerging risks in evasion - Trade-based money laundering and sanctions circumvention - Use of intermediaries, shell companies and complex structures - Common evasion methods and typologies
Sanctions Screening	20%	- Transaction and relationship screening - Screening methodologies and tools - Sanctions lists and designated parties - Matching logic, false positives and resolution
Sanctions Investigations and Asset Freezing	17.5%	- Disposition of frozen assets - Investigation protocols and procedures - Asset freezing, seizure and restriction measures - Reporting obligations to authorities

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ACAMS Certified Global Sanctions Specialist Sample Questions (Q19-Q24):

NEW QUESTION # 19
Which information should be considered while investigating a potential sanctions violation? (Select Two.)

A. The customer's dual residence in a sanctioned country and a non-sanctioned country
B. The customer's IP addresses
C. The customer's incoming and outgoing wire transfers involving non-sanctioned countries
D. The customer's salary
E. The customer's transactions of 10,000 USD or EUR or higher

Answer: A,B

Explanation:
Sanctions and Compliance Domains emphasize the importance of identity, residency, location indicators, and digital footprints when assessing potential sanctions violations.
Dual residency in a sanctioned country may trigger sanctions exposure because residency can determine jurisdictional reach. Likewise, IP addresses reveal the customer's actual geographic location during transactions and are critical in identifying hidden connections to sanctioned jurisdictions.
Transaction size thresholds, routine salary information, or transfers within non-sanctioned countries do not directly indicate sanctions violations.
Reference:
Analysis of geographic indicators such as residency and IP information.
Importance of location-based data in determining sanctions exposure.

NEW QUESTION # 20
For which of the following an OFSI license is required?

A. To write off a debt.
B. To issue or allow the redemption of vouchers, coupons, or reward points.
C. To set off a debt.
D. Payment for groceries.
E. Goods of low value and purely for personal consumption, such as food, water, or electricity or gas for domestic use.

Answer: A,B,C

NEW QUESTION # 21
According to OFSI, the asset freeze as a financial sanction generally involves the further steps, except:

A. Prohibited to deal with the frozen funds or economic resources
B. Prohibited to make funds or economic resources available, directly or indirectly for a benefit
C. Prohibited to make funds or economic resources available, directly or indirectly for a designated person
D. Prohibited to engage in actions that, directly or indirectly, circumvent the financial sanctions prohibitions
E. Changes in ownership of the frozen funds or economic resources

Answer: E

NEW QUESTION # 22
In which scenarios will the Office of Foreign Assets Control's 50% Rule apply to Entity C? (Select Three.)

A. Blocked Entity A owns 49.99% of Entity B. Entity B owns 49.99% of Entity C.
B. Blocked Person X owns 50% (1 share) of Entity A. Entity A owns 50% (1 share) of Entity B. Entity B owns 50% (1 share) of Entity C.
C. Blocked Person X owns 50% of Entity A and 25% of Entity B. Entities A and B each own 25% of Entity C.
D. Blocked Person X owns 50% of Entity A and 50% of Entity B. Entities A and B own 25% of Entity C each.
E. Blocked Person X owns 50% of Entity A. Entity A owns 50% (1 share) of Entity C. Blocked Person X owns 1 share directly in Entity C.
F. Blocked Entity A owns 50% of Entity B. Entity B owns 50% of Entity C.

Answer: B,E,F

Explanation:
The OFAC 50% Rule states:
* Any entity owned 50% or more - directly or indirectly - by an SDN or SDN-owned entity is itself automatically blocked.
* Ownership is cumulative through all tiers.
Apply the rule:
✔ A - Blocked Person X has direct + indirect ownership in Entity C exceeding 50% → Blocked.
✔ C - Ownership cascades: SDN → A → B → C; each at 50%. Result: Entity C is blocked.
✔ D - Blocked Entity A (>50%) → owns B (>50%) → owns C (>50%). All downstream entities are blocked.
Not blocked:
* B = 25% + 25% = 50% but SDN does not directly own A or B - the SDN owns A and B, but A and B each are not blocked themselves because ownership is not aggregated across separate entities unless they hold shares. Therefore, C is not blocked.
* E = Only 25% flows into Entity C.
* F = Neither ownership chain reaches 50%.
Reference:
OFAC 50% Rule on direct and indirect ownership.
OFAC guidance on cascading ownership and aggregation requirements.

NEW QUESTION # 23
Rule 11 is not directly applicable to administrative proceedings.
Which of the following is related to this circumstance?

A. Nuwesra v. Merrill Lynch, Fenner & Smith, Inc., 174 F.3d 87 (2d Cir. 1999), the Second Circuit vacated the district court's sua sponte award of $25,000 in attorneys' fees to the defendants in an ADA case.
B. Whelan v. Heffler, Radetich & Saitta, LLP, No. 3:99-CV-0337-P, 1999 U.S. Dist. LEXIS 15979, at *20 (N.D. Tex. Oct. 13, 1999) - Lifetime permanent injunction enjoining attorney from local bankruptcy practice was excessive.
C. Chalais v. Milton Bradley Co., No. 95 Civ. 0737 (MBM), 1996 U.S. Dist. LEXIS 13438, at *7 (S.D.N.Y. Sept. 16, 1996) - "[I]mpecunious individual practitioners are just as capable of generating unnecessary work as wealthy firms, and they are no less bound by the rules."
D. Lorentzen v. Anderson Pest Control, 64 F.3d 327, 330 (7th Cir. 1995) - Upholding sanctions award of fees where "only a substantial monetary sanction would deter [the sanctioned party] from engaging in similar conduct in the future".
E. TriState Steel Constr. Co. v. Herman, 164 F.3d 973, 979 (6th Cir. 1999) - Proceeding before the Occupational Safety-Health Review Commission

Answer: E

NEW QUESTION # 24
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