Advanced-CAMS-Audit Exam Dumps | During a sanction review, an auditor notes that several of the bank's large corporate clients continue

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Question 11/43

During a sanction review, an auditor notes that several of the bank's large corporate clients continue to route transactions through the bank to certain Office of Foreign AssetsControl (OFAC)-sanctioned countries.The head of corporate clients stated that these transactions were executed under the OFAC license.What should an auditor know to distinguish between an OFAC general license and a specific license?

A. A general license authorizes a type of transaction and a specific license authorizes a transaction in response to a written license application.

B. A specific license authorizes a transaction for an entity and a general license authorizes a transaction for an individual.

C. A general license authorizes a transaction for an entity and a specific license authorizes a transaction for an individual.

D. A specific license authorizes a type of transaction and a general license authorizes a transaction in response to a written license application.

Question 11/43

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