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Free CRCM Exam Braindumps
CERTIFIED REGULATORY COMPLIANCE MANAGER (CRCM) Questions 230–232 (page: 138)

Updated On: 9-Feb-2026
Page 138 of 276
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



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



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