Certified Global Sanctions
Specialist (CGSS) Exam
Dumps UPDATED
1. Which of the following best describes the primary purpose of sanctions?
A. Punish individuals for financial crimes
B. Influence behavior of foreign governments and entities
C. Generate income for governments through penalties
D. Prevent domestic fraud
Answer: B – Sanctions are tools of foreign policy designed to alter behavior.
2. Which organization administers U.S. sanctions programs?
A. FinCEN
B. FATF
C. OFAC
D. The World Bank
Answer: C – OFAC administers U.S. financial and economic sanctions.
3. Which of the following is NOT a type of sanctions program?
A. Comprehensive
B. Sectoral
,C. Targeted
D. Procedural
Answer: D – “Procedural” is not a sanctions program type.
4. Sectoral sanctions primarily target:
A. Entire nations
B. Major economic sectors
C. Individual criminals
D. NGOs operating in conflict zones
Answer: B – Sectoral sanctions limit specific industries like energy, defense, or
finance.
5. UNSC sanctions are mandatory for:
A. All UN member states
B. Only G20 countries
C. Only countries with strong AML frameworks
D. Voluntary compliance by members
Answer: A – UN sanctions are binding for all member states.
Section 2: OFAC, EU, UK, and International Regimes
6. OFAC’s SDN List includes:
A. Only companies
B. Only individuals
C. Individuals and entities blocked by U.S. sanctions
D. Only foreign organizations
,Answer: C
7. The EU’s consolidated sanctions list is updated:
A. Only annually
B. At the end of each fiscal quarter
C. As often as needed when regulations change
D. Every 5 years
Answer: C – Updates occur as required.
8. The UK’s post-Brexit sanctions regulator is:
A. HMRC
B. OFSI
C. NCA
D. HMT
Answer: B – The Office of Financial Sanctions Implementation (OFSI).
9. Which of the following can issue general licenses?
A. FATF
B. OFAC
C. Interpol
D. Basel Committee
Answer: B
10. What does a “blocking” action require?
A. Reporting but not restricting access
, B. Freezing assets and preventing transactions
C. Manual verification only
D. Suspension of KYC measures
Answer: B
Section 3: Compliance Controls & Risk Management
11. Which is a key component of sanctions risk assessment?
A. Employee age demographics
B. Client geographic exposure
C. Number of office locations
D. Marketing strategies
Answer: B
12. Which business line generally carries the highest sanctions risk?
A. Retail banking
B. Trade finance
C. Mortgage lending
D. Insurance underwriting
Answer: B – High cross-border exposure.
13. A company that exports dual-use goods must pay special attention to:
A. AML rules only
B. Tariff schedules
C. Sanctions and export-control rules
D. IRS reporting
Specialist (CGSS) Exam
Dumps UPDATED
1. Which of the following best describes the primary purpose of sanctions?
A. Punish individuals for financial crimes
B. Influence behavior of foreign governments and entities
C. Generate income for governments through penalties
D. Prevent domestic fraud
Answer: B – Sanctions are tools of foreign policy designed to alter behavior.
2. Which organization administers U.S. sanctions programs?
A. FinCEN
B. FATF
C. OFAC
D. The World Bank
Answer: C – OFAC administers U.S. financial and economic sanctions.
3. Which of the following is NOT a type of sanctions program?
A. Comprehensive
B. Sectoral
,C. Targeted
D. Procedural
Answer: D – “Procedural” is not a sanctions program type.
4. Sectoral sanctions primarily target:
A. Entire nations
B. Major economic sectors
C. Individual criminals
D. NGOs operating in conflict zones
Answer: B – Sectoral sanctions limit specific industries like energy, defense, or
finance.
5. UNSC sanctions are mandatory for:
A. All UN member states
B. Only G20 countries
C. Only countries with strong AML frameworks
D. Voluntary compliance by members
Answer: A – UN sanctions are binding for all member states.
Section 2: OFAC, EU, UK, and International Regimes
6. OFAC’s SDN List includes:
A. Only companies
B. Only individuals
C. Individuals and entities blocked by U.S. sanctions
D. Only foreign organizations
,Answer: C
7. The EU’s consolidated sanctions list is updated:
A. Only annually
B. At the end of each fiscal quarter
C. As often as needed when regulations change
D. Every 5 years
Answer: C – Updates occur as required.
8. The UK’s post-Brexit sanctions regulator is:
A. HMRC
B. OFSI
C. NCA
D. HMT
Answer: B – The Office of Financial Sanctions Implementation (OFSI).
9. Which of the following can issue general licenses?
A. FATF
B. OFAC
C. Interpol
D. Basel Committee
Answer: B
10. What does a “blocking” action require?
A. Reporting but not restricting access
, B. Freezing assets and preventing transactions
C. Manual verification only
D. Suspension of KYC measures
Answer: B
Section 3: Compliance Controls & Risk Management
11. Which is a key component of sanctions risk assessment?
A. Employee age demographics
B. Client geographic exposure
C. Number of office locations
D. Marketing strategies
Answer: B
12. Which business line generally carries the highest sanctions risk?
A. Retail banking
B. Trade finance
C. Mortgage lending
D. Insurance underwriting
Answer: B – High cross-border exposure.
13. A company that exports dual-use goods must pay special attention to:
A. AML rules only
B. Tariff schedules
C. Sanctions and export-control rules
D. IRS reporting
