ACAMS CGSS Actual Free Exam Questions & Community Discussion

Exam Code/Number: CGSS
Exam Name/Title: Certified Global Sanctions Specialist
Certification Provider: ACAMS
Corresponding Certification: Association of Certified Anti Money Laundering

Exam Questions: 103
Updated On: Aug 03, 2026

Question #1

Who must comply with Office of Foreign Assets Control regulations in all circumstances?

A. US persons, including all US citizens and permanent resident aliens

B. Foreign financial institutions without a US nexus

C. Foreign persons in possession of US-origin goods

D. Foreign companies with US subsidiaries

Discussion 0

Correct Answer: A Vote an answer

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Question #2

Which are common misconceptions related to an effective sanctions program? (Select Two.)

A. Parties involved in import or export and related transactions could be subject to financial sanctions.

B. A company must assess sanctions risks during the due diligence phase of a merger and acquisition.

C. A US citizen has been working in the EU and thus, US sanctions do not apply.

D. An individual sending a USD wire that automatically involves the US sanctions.

E. The individual or entity is not explicitly named on a sanctions list, therefore there are no potential sanctions risk.

Discussion 0

Correct Answer: D,E Vote an answer

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Question #3

The screening process identifies that a wire payment is received from a shipping company registered in a high-risk jurisdiction, and the funds are temporarily held. An invoice forwarded via the intermediary bank indicates that the payment was made on behalf of an apparent shell company. Which action would be most appropriate from a sanctions risk standpoint?

A. Report the payment to the appropriate governmental authority due to sanctions concerns.

B. Freeze/block the payment.

C. Request further information regarding the payment, shell company, and beneficiary before proceeding.

D. Proceed with the payment if the originator, shell company, and beneficiary are not present on a sanctions list.

Discussion 0

Correct Answer: C Vote an answer

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Question #4

According to the Office of Foreign Assets Control (OFAC), USD can be used in transactions with Cuba when the transaction involves:

A. certain circumstances allowed by OFAC.

B. specific companies.

C. US companies.

D. both Cuba and other countries as well.

Discussion 0

Correct Answer: A Vote an answer

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Question #5

A compliance officer at a US company discovers one of its European subsidiaries was altering the end-user's location information for certain dual-use goods ultimately being sent to Iran. Which should be the next step?

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

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

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

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

Discussion 0

Correct Answer: B Vote an answer

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Question #6

For which reason does the Office of Foreign Assets Control allow general licenses for providing legal services to sanctions targets?

A. So the Bureau of Industry and Security can maintain its supervision.

B. To allow representation before an agency with respect to UN sanctions.

C. Because Justice Department settlements with companies require a monitor.

D. To comply with US and state laws so long as the legal services do not facilitate sanctioned activity.

Discussion 0

Correct Answer: D Vote an answer

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Question #7

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. Regulated entities with a clear web presence with a verifiable business background

B. Established accounts that send or receive funds from non-sanctioned institutions or institutions active on SWIFT

C. Privately held companies conducting international wire transfers through institutions distinct from company registration

D. Publicly traded corporate vehicles

E. New accounts that are experiencing a sudden rise in value being transferred to the institution from higher risk countries without clear business rationale

Discussion 0

Correct Answer: C,E Vote an answer

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