BSA 09/14/2021
BSA Compliance Quiz
Test your knowledge on Bank Secrecy Act compliance and related reporting requirements through this engaging quiz! With 10 carefully crafted multiple-choice questions, you'll dive into real-world scenarios that financial professionals encounter.
- Assess your understanding of currency transaction reports (CTRs).
- Learn when to file other essential reports.
- Enhance your knowledge on elder abuse awareness.
When Filling CTR for a Member (Conductor) depositing into an account held jointly between the member and their spouse who should be added as Beneficiary on the CTR?
Member Depositing the money
Joint owner (spouse)
Both the member depositing the money AND their spouse Joint owner
Yourself, because you are taking the money from the member
You should never tell a member that you are filling a CTR
True
False
When completing a Single cash transaction requiring a CTR. The second form of ID should be recorded:
In Encore Only
On the CTR Coupon Only
Both on the CTR Coupon AND the Encore System
Which is NOT one of the reports we can file under the BSA act?
Currency Transaction Report (CTR)
Elder Abuse & At-Risk Persons
Dubious Behavior Report (DBR)
Suspicious Activity Reports (SAR's)
When Submitting an Elder Abuse & At-Risk Persons Coupon which of the following should you do?
Let the person/conductor know that you have completed coupon based on their activity
Notate in USD that you have submitted a Coupon
All of the Above
None of The Above
True or False. When filling a CTR and entering the members employment information. If the member states he is retired you should ask the member what he did before he retired and add "retired PAST JOB(ie. Carpenter)" in coupon?
True
False
A Member comes in the Branch with a cash deposit of 12,000$ When you inform the member you will have to file a CTR coupon for the transaction they ask you what the threshold amount is and ask you to only deposit 9,500$ Which coupon should be filled?
A CTR coupon since the member's original intent was to deposit over 10K
An Elder Abuse & At-Risk Person Coupon
A SAR coupon with "Structuring" as the type of suspicious activity
No coupon is required in this scenario
A Member comes into the branch accompanied by what seems to be a caretaker. When you ask the member what you can do to help them today the caretaker chimes in and says the member needs to withdraw money to pay bills. You ask the member to present identification and the caretaker pulls it out of their own purse. When you ask the member how much they would like to withdraw the member seems a little agitated and says "150$" the Caretaker then says: "no member, remember we needed 500$ today for the bills" The member agrees and says they would like to withdraw 500$. What kind of coupon, if any, should be submitted?
CTR
Elder Abuse & At-Risk Persons
SAR
No report should be filed
A Member comes into the branch to do a 9,000$ deposit. The member is all smiles and he says that he recently got a new car loan with navy fed and just sold his old car. He is very excited because he did not think he would get that much money for his older car and with the extra money he plans to replace his old computer at home. When you pull up USD you see no other recent large transaction and you see his new navy federal loan. What kind of coupon, if any, should be submitted ?
CTR
Elder Abuse & At-Risk Persons
SAR
No report should be filed
A Member comes into the Branch with an envelope full of money. He hands you 9,900.00$ from the envelope and you can see even more money in it. Upon looking over at the members last transaction you notice that this is the third Friday in a row the member has done large cash deposits under the 10K threshold. When you ask the member where the funds came from he says: "just mattress money" and laughs. What type of report, if any, should be filed?
CTR
Elder Abuse & At-Risk Persons
SAR
No report should be filed
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