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The CGSS exam is a four-hour, computer-based test that consists of 120 multiple-choice questions. The questions are designed to test the candidate's knowledge of sanctions regulations, risk assessment, and compliance strategies. CGSS exam is offered in multiple languages, including English, Spanish, and Chinese, and is administered in testing centers around the world.
The CGSS certification exam consists of a comprehensive set of multiple-choice questions designed to test the candidate's knowledge of global sanctions compliance. CGSS Exam covers various topics, including the origins and purposes of sanctions, the regulatory environment, and the practical applications of sanctions compliance. CGSS exam is computer-based and can be taken at any of the ACAMS testing centers worldwide. Candidates are required to achieve a passing score to obtain the CGSS certification.
Valid CGSS Exam Questions, Online CGSS TestLead1Pass offers an extensive collection of CGSS practice questions in PDF format. This ACAMS CGSS Exam Questions pdf file format is simple to use and can be accessed on any device, including a desktop, tablet, laptop, Mac, or smartphone. No matter where you are, you can learn on the go. The PDF version of the Certified Global Sanctions Specialist (CGSS) exam questions is also easily printable, allowing you to keep physical copies of the Certified Global Sanctions Specialist (CGSS) questions dumps with you at all times.
ACAMS CGSS (Certified Global Sanctions Specialist) Certification Exam is a prestigious certification that is designed for professionals who are involved in the compliance industry. Certified Global Sanctions Specialist certification program is focused on sanctions compliance, which is a crucial aspect of the compliance industry. CGSS examination is designed to test the candidate's knowledge and understanding of the global sanctions landscape, including the regulations, laws, and best practices that govern sanctions compliance. ACAMS Certified Global Sanctions Specialist Sample Questions (Q12-Q17):NEW QUESTION # 12
Which of the following is the most common form of financial sanctions?
A. Asset leasing
B. Asset freezing
C. Asset acquisition
D. Asset disqualification
E. Asset liquidation
Answer: B
NEW QUESTION # 13
According to OFSI, what from the listed below can be defined as as fundsas?
A. Cash, cheques, claims on money, drafts, money orders
B. Materials and equipment
C. Interest, dividends or other income on or value accruing from or generated by assets
D. Deposits with financial institutions or other entities
E. Letters of credit
Answer: A,C,D,E
NEW QUESTION # 14
Which are common misconceptions related to an effective sanctions program? (Select Two.)
A. An individual sending a USD wire that automatically involves the US sanctions.
B. A company must assess sanctions risks during the due diligence phase of a merger and acquisition.
C. The individual or entity is not explicitly named on a sanctions list, therefore there are no potential sanctions risk.
D. Parties involved in import or export and related transactions could be subject to financial sanctions.
E. A US citizen has been working in the EU and thus, US sanctions do not apply.
Answer: A,C
Explanation:
Sanctions and Compliance Domains outline several misunderstandings commonly held by businesses. One misconception is that any USD transaction automatically triggers US sanctions applicability; while USD transactions may be routed through the US financial system, sanctions analysis depends on transaction content, parties involved, and jurisdictional reach, not solely the currency.
Another misconception is assuming no sanctions risk exists if a party is not listed by name. Sanctions regimes include indirect application through ownership and control rules, sectoral sanctions, activity-based sanctions, and geographic sanctions. Entities may be sanctioned due to association, ownership, or activity even if not individually named.
Statements regarding import/export exposure and MandA due diligence are correct program requirements. US sanctions can still apply to US citizens regardless of where they reside or work.
Reference from Sanctions and Compliance Domains:
Misconceptions regarding currency and sanctions applicability.
Misunderstandings about named-party sanctions versus ownership/activity-based risks.
Clarification on US person obligations regardless of residence.
NEW QUESTION # 15
A financial institution provides banking services to cryptocurrency exchanges. One of their clients is a cryptocurrency exchange that specializes in offering privacy coins and provision of a tumbler/mixer service. Which sanctions-related risk should be considered?
A. The cryptocurrency exchange can rely on the financial institution to perform due diligence on their clients.
B. Privacy coins provide anonymity on the blockchain but can be screened for sanctions compliance by the exchange.
C. Privacy coins provide enhanced anonymity features that negate the requirements for sanctions screening.
D. A tumbler/mixer service mingles cryptocurrency making it difficult to perform effective sanctions screening.
Answer: D
Explanation:
Sanctions and Compliance Domains emphasize that sanctions screening depends on traceable identifiers, transparent transaction histories, and clear counterparties. Privacy coins and mixers/tumblers significantly obscure blockchain transaction trails.
A tumbler or mixer intentionally blends cryptocurrency from multiple sources, making it extremely difficult to determine the origin of funds, the identities of transacting parties, or any links to sanctioned entities. This creates a high sanctions-related risk because sanctioned actors or jurisdictions may exploit these services to disguise involvement.
Privacy coins alone pose risk due to anonymity, but the mixer/tumbler function specifically disrupts sanctions screening capabilities. Financial institutions and exchanges cannot rely on upstream partners to conduct due diligence.
Reference from Sanctions and Compliance Domains:
Risks of anonymity-enhancing technologies (AETs) in sanctions compliance.
Screening limitations created by mixers/tumblers and privacy-preserving blockchain tools.
Guidance highlighting elevated sanctions risks in digital asset transactions lacking traceability.
NEW QUESTION # 16
A sanctions officer is reviewing a report showing increased activity at an international branch with a large population of expatriates from a newly sanctioned jurisdiction. Which are red flags for identifying clients with increased sanctions or AML risk? (Select Two.)
A. New accounts that are experiencing a sudden rise in value being transferred to the institution from higher risk countries without clear business rationale
B. Established accounts that send or receive funds from non-sanctioned institutions or institutions active on SWIFT
C. Publicly traded corporate vehicles
D. Privately held companies conducting international wire transfers through institutions distinct from company registration
E. Regulated entities with a clear web presence with a verifiable business background
Answer: A,D
Explanation:
Red flags for sanctions and AML risk include:
* Privately held companies using institutions outside their jurisdiction of registration, a known structuring and sanctions-evasion indicator.
* Sudden rises in value from high-risk countries without business justification, a classic AML and sanctions red flag indicating possible sanctions circumvention, layering, or illicit value transfer.
Publicly traded entities and regulated firms generally present lower risk due to transparency. Routine SWIFT activity alone is not a red flag.
Reference:
AML/sanctions red-flag indicators related to wire transfers and unexplained value movement.
Risk characteristics of opaque private companies and cross-border financial behavior.