CRCM.pdf - Banking CRCM Certified Regulatory Compliance...

CRCM
Banking
Certified Regulatory Compliance Manager

QUESTION: 445
An individual comes into the bank and makes a $6,000 cash deposit into a checking
account. At the same time, the individual buys a $7,000 cashier’s check with cash.
According to the Bank Secrecy Act, what is the bank is required to do?
QUESTION: 446
Which of the following is NOT considered an acceptable form of identification for an
individual when completing a CTR?
QUESTION: 447
Which of the following customers may be exempted under Phase II of the Bank Secrecy
Act?
QUESTION: 448
In which of the following circumstances is it LEAST appropriate for a bank to file a SAR
regarding Internet activity?
A. Bank determines that one of its customers is the victim of identity theft
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B. Bank becomes aware of identity theft of its domain name (i.e., another entity selects a
name similar to the bank’s in order to confuse customers and obtain confidential financial
information)
C. Bank discovers that someone has hacked into its data system in order to obtain
confidential customer data
D. Bank determines through its transaction-monitoring program that a customer is
making electronic transfers between his own checking and savings accounts that are just
below the $10,000 reporting level
Answer: D
QUESTION: 449
When completing and filing a SAR, what is the bank NOT required to do?
QUESTION: 450
What should a bank’s Bank Secrecy Act compliance program include?