American Bankers Association Exam CRCM Topic 9 Question 100 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 100
Topic #: 9

Mrs. Evans, a customer of First National Bank, deposits $15,000 in cash to her account. During the transaction, Mrs. Evans explains that she received the money in the mail from her sister in Europe. What responsibility does the bank have?

AComplete a Currency Transaction Report (CTR)

BComplete a United States Customs form 4790 (CMIR)

CComplete both a currency transaction report and a CMIR

DComplete a CTR and encourage Mrs. Evans to file a CMIR

Show Suggested Answer

Suggested Answer: D

by Melissa at Sep 14, 2024, 06:28 AM

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Alverta

2 months ago

I bet Mrs. Evans is trying to launder some money. The bank should definitely file that CTR and make her do the CMIR too. Gotta keep an eye out for suspicious activity!

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Yolande

22 days ago

I agree, the bank needs to follow the proper procedures to prevent money laundering.

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Florinda

1 months ago

C) Complete both a currency transaction report and a CMIR

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Jerlene

1 months ago

B) Complete a United States Customs form 4790 (CMIR)

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Mirta

1 months ago

A) Complete a Currency Transaction Report (CTR)

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Tien

2 months ago

Option C all the way! The bank better do both reports, or else they'll be in hot water. Imagine the fines they'd have to pay if they didn't!

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Rima

19 days ago

C) Complete both a currency transaction report and a CMIR

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Izetta

21 days ago

B) Complete a United States Customs form 4790 (CMIR)

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Leonora

1 months ago

A) Complete a Currency Transaction Report (CTR)

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Providencia

2 months ago

Hmm, I'm not sure. Maybe the bank should just complete both forms, just to be on the safe side. Wouldn't want the bank to get in trouble for not reporting something they should have, you know?

upvoted 0 times