BSA Branch Audit Quiz
Print Name: ______________________________________
1. Alvy Singer walks in and deposits $4,995 in cash into his share savings account and $5,000 in cash into his share
checking account at the same time on the same day. Does this trigger the need to file a Currency Transaction Report (CTR)?
Yes_____ No X What “might” Mr. Singer’s activity suggest? Structuring
2. Tony Lacey deposits $12,500.15 in cash into a deposit account, what dollar amount should be listed on CTR?
____ a. $12,500.15
____ b. $12,500
_X__ c. $12,501
3. A CTR must be completed and submitted electronically to the Financial Crimes Enforcement Network (FinCEN) for each
deposit, withdrawal and exchange of currency that involves a transaction of currency of more than $10,000
4. You’ve just discovered that your credit union has filed several Suspicious Activity Reports (SARs) on Annie, your neighbor
down the street. Annie works with your husband. Which of the following are permissible?
____ a. I tell my husband so he can let Annie know about the reports.
____ b. I could tell my husband since all communications between a husband and wife are protected, but I also let him
Know he can’t say anything to Annie about the reports.
____ c. I tell my husband to advise Annie to be careful.
____ d. I don’t say anything to anyone about what I’ve just discovered.
5. Mrs. Sanborn requests a cashier’s check made out to her for $10,100 with funds from her share savings account. Do you
file CTR? Yes_____ No______ Why or why not? Not a cash transaction
6. Which of the following are examples of potentially suspicious activities that should raise red flags, invite possible further
investigation and a determination as to whether a SAR should be filed?
____ a. Matt Thompson engages in unusual activity in cash purchases of cashier’s checks and gift cards.
____ b. Connie James intentionally withholds part of her cash deposit or withdrawal to keep her transaction under the
reporting threshold.
____ c. John Cambridge makes frequent exchanges of small dollar denominations for large dollar denominations.
____ d. Owen Eldridge, who is a business owner with only one location makes several deposits on the same day using
different credit union branches.
____ e. All of the above
7. In accordance with PMCU procedures, a CTR needs to be completed and sent to Audit and Compliance ________from
the date of the transaction.
____ a. Within 48 hours
____ b. By the 5th calendar day (or preferably the next business day)
____ c. By the 10th calendar day
____ d. By the 15th calendar day
____ e. By the 30th calendar day
8. A credit union must maintain Monetary Instrument Logs for each cashier’s check and/or gift card it sells or issues to any
individual that is purchased with cash in the amount of $_________
_____a. $5000 or more
_____b. $3500 or more
_____c. $3000 or more
_____d. Any amount
9. Is it acceptable to use the terms “retired” or “unemployed” to identify the occupation or profession for an individual in
completing the Currency Transaction Report (CTR)? Yes_____ No_____
10. Ardelia Mapp deposits $1,000 in cash at 10:00am and deposits $850.00 in cash at 2:30pm into her account on Monday.
On Wednesday she deposits $1,500 in cash at the ATM. On Friday, she deposits $500. What could this be an example of?
_____a. Structuring
_____b. Smurfing
_____c. Kiting
_____d. a and b
11. Jack Crawford comes into the credit union on Tuesday and cashes a check for $5,000. He then returns on Wednesday
and cashes another check for $7,000. You will need to file a Currency Transaction Report (CTR) for this member. True____
False____
12. Florine Worthine comes into the credit union and deposits $8,000 cash. She comes back later in the day and withdraws
$9,000 cash. Is a Currency Transaction Report (CTR) required in this case? Yes_____ No______
13. Hoke Colbern deposits $14,000 in cash into his account. He then writes a check for $9,000 to purchase a cashier’s
check. What would you report on the Currency Transaction Report (CTR)?
_____a. $23,000
_____b. $14,000
_____c. $9,000
_____d. None of the above
14. Delilah Fitzgerald, a longtime member of PMCU withdraws $15,000 in cash from her share savings account. You prepare
the Currency Transaction Report (CTR) for the transaction. Since you know Delilah, is it permissible for you to fill in
“signature card on file” as the method used to verify her identity for the CTR form? Yes____ No_____
15. Mr. Beauchamp has a $15,000 share certificate that has just matured. He requested the $15,000 in the form of a
cashier’s check. Is a Currency Transaction Report (CTR) required in this case? Yes_____ No_____
16. Which of the following examples would be acceptable to use to answer the occupation or type of business question
on the Currency Transaction Report (CTR)?
______a. Engineer
______b. Doctor
______c. Self-employed
______d. Lawyer
______e. All of the above
______e. a, b, and d
17. Jack Favell deposits $7,000 in cash into his share checking account. He withdraws $4,000 in cash from his share savings
account. He also gives you $5,000 in cash to purchase gift cards. What’s the CTR dollar amount?
____ a. $16,000
____ b. $12,000
____ c. $11,000
18. Ms. Lacy comes into the credit union and deposits $8,000 in cash to her share savings account. She returns later in the
day and withdraws $2,500 in cash from her share checking account. Will you need to file a CTR? Yes____ No_________
19. Mrs. Van Hopper comes into the credit union and deposits $3,500 in cash into her share savings account on Tuesday
morning. Several hours later she deposits $5,300 in cash into her share savings account and another $2,300 in cash into her
share checking account. Does a Currency Transaction Form (CTR) need to be filed? Yes ____ No ____
20. Dr. Baker wants to withdraw a large amount of cash from his account. He says he knows there’s a reporting threshold but
can’t remember the amount. You tell him if he withdraws more than $10,000 in cash you need to prepare a CTR. Dr. Baker
says he wants to avoid that, so he only withdraws $9,800 in cash. While reviewing his account you notice that earlier in the
day Dr. Baker withdrew $300 in cash from the ATM. What should you do?
____a. File a CTR
____b. File a SAR
____c. File a CTR and SAR
____d. None of the above