This short quiz tests your knowledge on the reporting requirements of the Bank Secrecy Act.
Report suspicious activity that might signify money laundering, tax evasion, or other criminal activities
Implement a written, board-approved compliance monitoring program
Keep records of all cash transactions
None of the above
Transaction exceeds $10,000
Transaction exceeds $5,000
Transaction exceeds $3,000
None of the above
1 year
3 years
5 years
7 years
Within 20 days from the date of transaction
Within 15 days from the date of transaction
Within 10 days from the date of transaction
Within 25 days from the date of transaction
U.S. passport
Driver’s license
Long-term deposit account relationship
None of the above
SAR must be filed when there is an identifiable suspect and the transaction involves $5,000 or more
SAR must be filed when there is no identifiable suspect and the transaction involves $10,000 or more
Copies of SARs and supporting documentation should be retained for five years from the date of filing the SAR
None of the above
True
False
Every 30 days
Every 60 days
Every 90 days
Every 45 days
SAR must be filed as the transaction involves more than $5,000
CTR must be filed as the transaction involves more than $10,000
Both SAR and CTR must be filed
None of the above
Cash transactions
Customer who request a money transfer to a foreign country
Customer who is reluctant to provide ID
None of the above
Yes
No
Law and accounting firms
Motor vehicles dealership
Real estate brokerage
Sea food restaurant