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American Bankers Association Exam CRCM Topic 7 Question 81 Discussion

Actual exam question for American Bankers Association's Certified Regulatory Compliance Manager exam
Question #: 81
Topic #: 7
[All Certified Regulatory Compliance Manager Questions]

The manager of Main Street branch calls and relates the following information: John Smith purchased a cashier's check for $1,000 cash at 10:00 a.m. on Tuesday. At 11:30 a.m. Mr. Smith returned and purchased a cashier's check for $2,500 cash and deposited traveler's checks totaling $9,000 into his checking account. At 4:00 p.m. Mr. Smith returned and deposited $8,000 cash into his checking account. This deposit was after normal banking hours, so it was recorded as of Wednesday's business date. What action should the bank take?

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Suggested Answer: D

Contribute your Thoughts:

Carissa
1 days ago
I agree with Ozell, the total cash transactions exceeded $10,000
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Ozell
2 days ago
I think we should file a Currency Transaction Report for $11,500
upvoted 0 times
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