Online Access Free CGSS Practice Test

Which product categories are generally considered dual-use goods? (Select Two.)

• A.Precious metals and gems
• B.Luxury goods
• C.Electronics
• D.Aerospace and propulsion
• E.Food and agriculture

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

• A.Foreign companies with US subsidiaries
• B.Foreign persons in possession of US-origin goods
• C.Foreign financial institutions without a US nexus
• D.US persons, including all US citizens and permanent resident aliens

The EU Blocking Regulation prohibits an EU person or company from complying with:

• A.US secondary sanctions.
• B.sanctions legislation.
• C.dual-use goods licensing requirements.
• D.country specific sanctions not listed in the Annex.

The funds of a client have been frozen by a financial institution. Subject to the Office of Foreign Assets Control's (OFAC's) regulations, the best course of action for the client to take would be to:

• A.contact the financial institution that has blocked the funds and request a refund.
• B.inform the local regulatory authority that the funds have been blocked.
• C.apply for a specific license through the OFAC website.
• D.initiate a new transaction using a different currency from the blocked account.

Which would be an appropriate tuning of a sanctions screening tool?

• A.Tune the screening tool to only generate matches to exact known spellings of sanctions targets and sanctioned jurisdictions.
• B.Limit the customer address and/or name data being screened to reduce the generation of false positives.
• C.Limit the spelling variations of sanctioned target and jurisdiction names being screened against to reduce the generation of false positives.
• D.Tune the screening tool to generate matches to variations of spellings of sanctions targets and sanctioned jurisdictions.