ACAMS
CAMS · Question #466
CAMS Question #466: Real Exam Question with Answer & Explanation
Sign in or unlock CAMS to reveal the answer and full explanation for question #466. The question stem and answer options stay visible for context.
Question
When may Office of Foreign Assets Control (OFAC) sanctioned-related transactions be allowed that would otherwise be prohibited?
Options
- AWhen the bank's board of directors approves the OFAC risk appetite for sanction-related
- BThrough an OFAC licensing process to determine that the transaction does not undermine the US
- COnly when the federal banking regulator provides OFAC approval before the transactions are
- DAfter going through a robust internal OFAC audit process that reviews sanction-related risks
Unlock CAMS to see the answer
You've previewed enough free CAMS questions. Unlock CAMS for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.