BSA Test with 100% Correct Answers
False - ANS-A currency transaction totaling 10,000.00 would require a CTR.
True - ANS-It is illegal to coach a customer on how to structure a transaction to avoid
the filling of a CTR.
False - ANS-When currency transactions exceed $10,000.00, CTR's should be filed for
exempt customers
True - ANS-The local bsa officer should review all CTR's before sending the report to
the primary bsa officer.
True - ANS-Physical addresses are required for CTR's
False - ANS-It is okay to list something general like contractor or retired in the
occupation box of the CTR
True - ANS-Transactions $3,000 or more initiated with currency for the purchase of a
monetary instrument should be logged on the monetary instrument sales log
False - ANS-The bsa policy allows monetary instrument sales to non-customers in
aggregate amounts less than 3,000
True - ANS-The monetary instrument sales log must be completed for an exempt
customer if the aggregate amount is $3000 or more and initiated with currency.
True - ANS-A customer who wishes to purchase monetary instruments in aggregate
amounts of $3000 or more should be instructed to first deposit the currency into one of
their deposit accounts.
False - ANS-The bsa policy allows sales of monetary instruments to non-customers
True - ANS-When calculating the aggregate amount of a monetary instrument sale,
associated fees should be included.
True - ANS-The OFAC List should be reviewed for purchasers and known payees
before conducting a monetary instrument sales transaction
True - ANS-Your locations local bsa officer should periodically review the monetary
instrument sale log to ensure employees are completing the logs correctly
False - ANS-A currency transaction totaling 10,000.00 would require a CTR.
True - ANS-It is illegal to coach a customer on how to structure a transaction to avoid
the filling of a CTR.
False - ANS-When currency transactions exceed $10,000.00, CTR's should be filed for
exempt customers
True - ANS-The local bsa officer should review all CTR's before sending the report to
the primary bsa officer.
True - ANS-Physical addresses are required for CTR's
False - ANS-It is okay to list something general like contractor or retired in the
occupation box of the CTR
True - ANS-Transactions $3,000 or more initiated with currency for the purchase of a
monetary instrument should be logged on the monetary instrument sales log
False - ANS-The bsa policy allows monetary instrument sales to non-customers in
aggregate amounts less than 3,000
True - ANS-The monetary instrument sales log must be completed for an exempt
customer if the aggregate amount is $3000 or more and initiated with currency.
True - ANS-A customer who wishes to purchase monetary instruments in aggregate
amounts of $3000 or more should be instructed to first deposit the currency into one of
their deposit accounts.
False - ANS-The bsa policy allows sales of monetary instruments to non-customers
True - ANS-When calculating the aggregate amount of a monetary instrument sale,
associated fees should be included.
True - ANS-The OFAC List should be reviewed for purchasers and known payees
before conducting a monetary instrument sales transaction
True - ANS-Your locations local bsa officer should periodically review the monetary
instrument sale log to ensure employees are completing the logs correctly
