CTR

CTR

Professional Development

6 Qs

quiz-placeholder

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CTR

CTR

Assessment

Quiz

Life Skills

Professional Development

Hard

Created by

Justin Persick

FREE Resource

6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a Currency Transaction Report (CTR)?
To monitor customer privacy and confidentiality
To facilitate large cash transactions
To assist in the detection and prevention of financial crimes including money laundering and terrorist financing
To regulate foreign currency exchange rates

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the reporting threshold for a CTR in the United States?
$5000 in currenct
$10000 in currency or multiple transactions aggregating $10000 in one day
$25000 in currency
$50000 in currency

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What information is captured in a CTR?
Customer's favorite currency
Transaction location
Customer's identification details, transaction date, cash amount, and nature of transaction
Customer's credit score

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Whose responsibility is it to identify and monitor transactions that meet or exceed the CTR threshold?
Customers
Regulatory authorities
Financial institutions
Law enforcement agencies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does CTR reporting contribute to anti-money laundering (AML) compliance?
It promotes customer privacy and confidentiality
It facilitates large cash transactions
It helps identify potentially suspicious or high-risk transactions for reporting to regulatory authorities
It regulates international funds transfers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of CTRs in the regulatory context?
To provide a mechanism for monitoring and investigating financial transactions
To enforce customer privacy regulations
To facilitate foreign currency exchange
To assist in the detection and prevention of money laundering and terrorist financing activities