Acams Exam Advanced-CAMS-Audit Topic 3 Question 11 Discussion

Actual exam question for Acams's Advanced-CAMS-Audit exam

Question #: 11
Topic #: 3

When reviewing an entity's sanctions compliance program, the auditor should ensure who is exempt from the Office of Foreign Assets Control's regulations?

AUS entities having branches outside the US

BNon-US entities having branches outside the US

CUS citizens residing outside the

DNon-US citizens residing in the US
Exemptions from OFAC Regulations:
Non-US citizens residing in the US are typically subject to OFAC regulations unless explicitly exempted. However, understanding exemptions is vital for sanctions compliance.
Auditor's Role in Sanctions Compliance:
Auditors must review whether the entity's compliance program correctly identifies and exempts individuals or entities as per OFAC guidelines.
CAMS-Audit Reference:
CAMS-Audit recommends thorough reviews of sanctions compliance programs, focusing on adherence to OFAC requirements and exemptions.

Show Suggested Answer

Suggested Answer: D

by Josephine Loh YH at Mar 30, 2025, 10:14 PM

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Lucina

3 months ago

I don't think so, the exemptions usually apply to Non-US citizens residing in the US according to OFAC guidelines.

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Samira

3 months ago

Ha! I can definitely relate to this question. As a non-US citizen living in the US, I'm pretty sure I'm not exempt from OFAC regulations. This stuff can be tricky to navigate.

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3 months ago

I think the answer is D) Non-US citizens residing in the US.

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