CSS CSS Licensing & Exemptions 1

Question 1

What is a 'specific license' in the OFAC licensing framework?

Accepted Answer

An individual authorization granted by OFAC for a particular transaction or set of transactions

Answer

A specific license is an individual written authorization from OFAC permitting a particular person or entity to engage in a transaction that would otherwise be prohibited.

Question 2

A 'general license' under OFAC's framework authorizes:

Accepted Answer

A class of transactions for all qualifying persons without requiring individual OFAC approval

Answer

General licenses are published authorizations permitting all qualifying persons to engage in a described category of transactions without needing to apply to OFAC for individual approval.

Question 3

Which OFAC general license typically permits transactions related to personal remittances to certain sanctioned countries?

Accepted Answer

Personal remittance general licenses specific to each country program

Answer

Most comprehensive sanctions programs (e.g., Cuba, Iran) include specific general licenses permitting limited personal remittances to family members, with conditions specific to each country program.

Question 4

When applying for a specific OFAC license, applicants must typically demonstrate which of the following?

Accepted Answer

That there is a licensing policy favoring the activity and the transaction serves a legitimate purpose

Answer

OFAC evaluates specific license applications based on its published licensing policies for each program and whether the described transaction serves a legitimate humanitarian, legal, or policy purpose.

Question 5

What is the 'informational materials' exemption under OFAC sanctions?

Accepted Answer

A statutory exemption that permits importing and exporting informational materials regardless of sanctions

Answer

The Berman Amendment provides a statutory exemption for the import and export of informational materials (such as books, films, and music) to and from sanctioned countries, reflecting First Amendment values.

(CSS) Certified Sanctions Specialist Practice Test

(CSS) Certified Sanctions Specialist Practice Test

CSS CSS Licensing & Exemptions 1