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Free CRCM Exam Braindumps (page: 171)

Page 171 of 344
PDF with 463 Questions

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?

  1. Complete a Currency Transaction Report (CTR)
  2. Two years
  3. Complete a United States Customs form 4790 (CMIR)
  4. Three years
  5. Complete both a currency transaction report and a CMIR
  6. Five years
  7. Complete a CTR and encourage Mrs. Evans to file a CMIR
  8. Seven years

Answer(s):



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?

  1. Complete a Currency Transaction Report (CTR)
  2. Two years
  3. Complete a United States Customs form 4790 (CMIR)
  4. Three years
  5. Complete both a currency transaction report and a CMIR
  6. Five years
  7. Complete a CTR and encourage Mrs. Evans to file a CMIR
  8. Seven years

Answer(s):



For how long must a bank keep records of transactions involving currency in amounts greater than $10,000?

  1. Two years
  2. Three years
  3. Five years
  4. Seven years

Answer(s): C



The manager of Main Street branch calls and relates the following information: John Smith purchased a cashier's check for $1,000 cash at 10:00 A. m. on Tuesday. At 11:30

  1. m. Mr. Smith returned and purchased a cashier's check for $2,500 cash and deposited traveler's checks totaling $9,000 into his checking account. At 4:00 p.m. Mr. Smith returned and deposited $8,000 cash into his checking account. This deposit was after normal banking hours, so it was recorded as of Wednesday's business date. What action should the bank take?
  2. None, because no single cash transaction exceeded $10,000
  3. File a Currency Transaction Report (CTR) for $11,500
  4. Record the $1,000, $2,500, and $9,000 transactions on the bank's monetary instrument sales log because the total exceeds the $3,000 threshold
  5. Record the $1,000 and $2,500 transactions on the bank's monetary instrument sales log because the total exceeds the $3,000 threshold

Answer(s): D



Page 171 of 344



Post your Comments and Discuss Banking CRCM exam with other Community members:

LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
#229 in incorrect - all the customers require an annual review
UNITED STATES
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LeAnne Hair commented on August 24, 2023
I think question 204 has an incorrect solution. It should be D-Regulation E
UNITED STATES
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Igor commented on April 10, 2020
Guys, leave no stones unturned. Try to study every questions and anything other supplementary material you have. The exam is not easy. I just wrote mine and if it wss not for these questions I would have not have passed it.
BULGARIA
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Lori commented on July 20, 2017
I had a good result. Worth the money.
UNITED STATES
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Chipps commented on July 20, 2017
Studying from this dump helped me understand the concept and what comes in the exam. But I only get about 80 to 85% of the questions not 100% as it is claimed. Well... still good enough to pass.
UNITED STATES
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