CGSS Exam - Free ACAMS Questions and Answers

Question #6 (Topic: Exam A)

A Sanctions Compliance Officer conducts an investigation into an alert of a possible sanctions list match and determines that the alert is a true match to the sanctions list. Which step should the Officer take next?

A. Prepare a report for the applicable regulator notifying them of the situation. B. Review the particular sanctions program restrictions applicable to this sanctions target. C. Close any accounts related to the sanctions target. D. Request that funds associated with the sanctions target be frozen/blocked.

Answer: B

Question #7 (Topic: Exam A)

Which considerations should be taken into account when conducting sanctions due diligence on insurance companies as customers? (Choose three.)

A. Are the company’s brokers required to do sanctions checks on individuals for whom it underwrites policies? B. How many brokers and intermediaries does the company employ? C. What is the maximum payout figure for an investment-based insurance product? D. How many products does the company offer overall? E. In which jurisdictions are its products and services offered? F. What are the company’s procedures for identifying the beneficiary owner(s) of its customers?

Answer: AEF

Question #8 (Topic: Exam A)

In sanctions investigations, social media: (Choose two.)

A. is a way to exchange information on sanctioned parties. B. provides information relating only to individuals’ private lives. C. is easily accessible and can offer reliable sources of information. D. can be used to identify possible relations between different parties. E. can serve as a secondary source of information to provide leads for further investigation.

Answer: DE

Question #9 (Topic: Exam A)

Company X exports goods to the US. One of Company X’s three directors is also the 100% shareholder and has recently been designated as a sanctions target by OFAC. The night before designation, the shareholder resigned from the director role and transferred 25% of his shares to his spouse, as well as 26% to a company that is managed by a trust in which he is one of the beneficiaries. Which tactics are being used to evade the sanctions restrictions that apply to the shareholder?

A. Establishing a front company B. Using non-transparent structures C. Using nominee directors D. Restructuring

Answer: D

Question #10 (Topic: Exam A)

A tanker ship approaches the Persian Gulf reporting that is probably empty. It then vanishes from the tracking grid. Six days later, the ship reports back that it is riding with full tanks. Which evasion technique did the ship use?

A. Ship-to-ship transfer B. Vessel name change C. Disabling the Automatic Identification System (AIS) D. Falsifying cargo and vessel documents

Answer: C

ACAMS CGSS - Certified Global Sanctions Specialist Exam