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Continuing Education Business Economics Questions

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Continuing Education Business Economics
The process of making "dirty" money appear to be "clean" is called what?
  1. Anti-money laundering
  2. Money laundering
  3. Bank secrecy
  4. Financial education
Continuing Education Business Economics
The following are examples of cash in transactions:
  1. Money exchanged
  2. Loan payment
  3. Savings deposit
  4. All of the above
Continuing Education Business Economics
If a custmer deposits $11,000.00 this is suspicious
  1. True
  2. False
Continuing Education Business Economics
When completing a CTR worksheet it is important to do the following:
  1. Be accurate and complete
  2. Leave blank spaces
  3. Make up data
  4. Not enter identifying information
Continuing Education Business Economics
For branches open during non traditional hours, a business day starts on Friday at 5:01 pm and ends Monday at 5:00 pm.
  1. True
  2. False
Continuing Education Business Economics
The requirements of the BSA mean that a CTR is filed on every currency transaction over $10,000.00 completed in a single business day where one TIN or EIN benefits from the cash.
  1. True
  2. False
Continuing Education Business Economics
The ultimate goal of the Bank Secrecy Act of 1970 is:
  1. To properly identify customers
  2. To create a paper trail
  3. To pass extra laws
  4. Both A and B
Continuing Education Business Economics
A customer that questions the threshold for filing a CTR is suspicious
  1. True
  2. False
Continuing Education Business Economics
Structuring is breaking down a transaction into parts under the reporting threshold in order to:
  1. Save tax money
  2. Earn interest
  3. Evade BSA reporting requirements
  4. Both A and B
Continuing Education Business Economics
The first stage of money laundering is called what?
  1. Placement
  2. Layering
  3. Integration
  4. All of the above
Continuing Education Business Economics
If Susan does a cash deposit of $5,000.00 in the morning and a $6,000.00 cash withdrawal in the afternoon this is a reportable transaction
  1. True
  2. False
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