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Name: ___________________________________
Date: ___________________________________
Anti-Money Laundering
Read carefully before selecting your answer. Must answer 7 or more correctly to pass.
Instructions: Read carefully before selecting your answer. Must answer 7 or more correctly to pass.
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What is Money LaunderingA. Owning a laundromat B. Washing money in the washing machine C. Taking money earned from criminal activity and hiding its criminal origins D. A cost effective banking option E. None of the above
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What does the BSA stand for?A. Bank Standard Association B. Better Service Award C. Bank Secrecy Award D. None of the above E. Bank Secrecy Act
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If someone is breaking up of transactions for the purpose of evading the BSA reporting and recordkeeping requirements, what is that called?A. Lying B. Layering C. Structuring D. Investing E. None of the above
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What is the correct order of the three phases of money laundering?A. Placement, Layering, and Integration B. Integration, Placement and Layering C. Layering, Integration, and Placement D. Placement, Layering and Investment E. None of the above
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What is the transaction threshold for filing a Currency Transaction Report? (CTR)A. $20,000 B. $5,000 C. $2,000 D. $10,000 or more E. None of the above
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What is the time span in which transactions must occur to qualify towards an accumulative Currency Transaction Report?A. 30 Days B. 7 Days C. One day D. 60 Days E. 1 Year
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What size/sizes of transactions would lead to a Currency Transaction Report being filed?A. One single large transaction B. Multiple smaller transactions C. Both large and small transactions D. Only Credit transactions E. None of the above
Name: ___________________________________
Date: ___________________________________
Anti-Money Laundering (Answer Key)
Read carefully before selecting your answer. Must answer 7 or more correctly to pass.
Instructions: Read carefully before selecting your answer. Must answer 7 or more correctly to pass.
-
What is Money LaunderingA. Owning a laundromat B. Washing money in the washing machine C. Taking money earned from criminal activity and hiding its criminal origins D. A cost effective banking option E. None of the above
-
What does the BSA stand for?A. Bank Standard Association B. Better Service Award C. Bank Secrecy Award D. None of the above E. Bank Secrecy Act
-
If someone is breaking up of transactions for the purpose of evading the BSA reporting and recordkeeping requirements, what is that called?A. Lying B. Layering C. Structuring D. Investing E. None of the above
-
What is the correct order of the three phases of money laundering?A. Placement, Layering, and Integration B. Integration, Placement and Layering C. Layering, Integration, and Placement D. Placement, Layering and Investment E. None of the above
-
What is the transaction threshold for filing a Currency Transaction Report? (CTR)A. $20,000 B. $5,000 C. $2,000 D. $10,000 or more E. None of the above
-
What is the time span in which transactions must occur to qualify towards an accumulative Currency Transaction Report?A. 30 Days B. 7 Days C. One day D. 60 Days E. 1 Year
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What size/sizes of transactions would lead to a Currency Transaction Report being filed?A. One single large transaction B. Multiple smaller transactions C. Both large and small transactions D. Only Credit transactions E. None of the above
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