CBT - Certified Bank Teller Teller Compliance and Regulations Questions and Answers

Question 1

A customer makes two separate cash deposits into their savings account in a single business day: one for $6,000 and another for $5,500.
Under the Bank Secrecy Act (BSA), what action is the teller required to take?

Accepted Answer

File a Currency Transaction Report (CTR) because the total cash amount exceeds $10,000.

Answer

File a Suspicious Activity Report (SAR) because the transactions are structured to avoid reporting thresholds.

Answer

Inform the customer that they cannot deposit more than $10,000 in cash per day.

Answer

Do nothing, as no single transaction was over $10,000.

Question 2

A teller suspects a customer is involved in illegal activities and is using the bank to launder money. The total amount of the suspicious transactions is $6,500. Which of the following is the most appropriate action for the teller?

Accepted Answer

Report the suspicious activity to their supervisor or BSA compliance officer to facilitate the filing of a Suspicious Activity Report (SAR).

Answer

Refuse the transaction and close the customer's account immediately.

Answer

Discuss the suspicion with the customer to get more information.

Answer

File a Currency Transaction Report (CTR) due to the suspicious nature of the activity.

Question 3

According to Regulation CC (Expedited Funds Availability Act), which of the following deposits must generally be made available to the customer by the next business day?

Accepted Answer

A U.S. Treasury check for $5,000 deposited in person.

Answer

A $10,000 personal check from an out-of-state bank.

Answer

A $7,000 cash deposit made at a non-proprietary ATM.

Answer

A personal check for $500 drawn on another local bank.

Question 4

The Office of Foreign Assets Control (OFAC) administers and enforces economic and trade sanctions. What is a bank teller's primary responsibility regarding OFAC compliance?

Accepted Answer

Screening transactions and customers against the Specially Designated Nationals (SDN) list.

Answer

Advising customers on how to get their names removed from the OFAC list.

Answer

Reporting any foreign currency exchange transaction over $1,000 to OFAC.

Answer

Issuing OFAC licenses for transactions with sanctioned countries.

Question 5

A customer reports that their debit card was stolen and used for an unauthorized $300 transaction yesterday. They notify the bank today. Under Regulation E (Electronic Fund Transfer Act), what is the customer's maximum liability?

Accepted Answer

$50.

Answer

$0, because they reported it within two business days.

Answer

$300, the full amount of the transaction.

Answer

$500.

Question 6

Which of the following scenarios describes 'structuring,' an illegal activity that tellers must be trained to recognize?

Accepted Answer

A customer making multiple cash deposits of $9,000 at different branches on the same day.

Answer

A business owner depositing a large amount of cash from weekend sales on a Monday morning.

Answer

A customer exchanging a large amount of U.S. dollars for a foreign currency before an international trip.

Answer

A customer wiring $15,000 to a family member in another country.

A customer makes two separate cash deposits into their savings account in a single business day: one for $6,000 and another for $5,500.Under the Bank Secrecy Act (BSA), what action is the teller required to take?

A customer makes two separate cash deposits into their savings account in a single business day: one for $6,000 and another for $5,500.
Under the Bank Secrecy Act (BSA), what action is the teller required to take?