Free CBT Cash Handling and Transactions Questions and Answers

Question 1

When balancing a cash drawer at the end of a shift, what is the first critical step a bank teller should take?

Accepted Answer

Count the initial starting cash amount (float) and set it aside.

Answer

Before reconciling the day's transactions, the initial cash fund (or 'float') that the drawer started with must be counted and separated. This ensures that only the cash from actual transactions is being balanced against the system reports.

Question 2

A customer makes a cash deposit of $12,500 into their personal savings account. According to the Bank Secrecy Act (BSA), what is the teller's primary responsibility?

Accepted Answer

Complete a Currency Transaction Report (CTR) because the transaction exceeds $10,000.

Answer

The Bank Secrecy Act (BSA) requires financial institutions to report any single cash transaction or series of related cash transactions exceeding $10,000 in one business day by filing a Currency Transaction Report (CTR).

Question 3

While processing a transaction, a teller receives a $50 bill that feels unusual. Which of the following is the MOST reliable feature to check for authenticity on modern U.S. currency?

Accepted Answer

Color-shifting ink and an embedded security thread.

Answer

Modern U.S. banknotes have advanced security features. The color-shifting ink (e.g., on the numeral in the lower right corner) and the embedded security thread that glows under UV light are two of the most difficult features for counterfeiters to replicate accurately.

Question 4

A customer deposits a $3,000 check into their new account, which was opened 15 days ago. According to Regulation CC (Expedited Funds Availability Act), which of the following actions is the bank permitted to take?

Accepted Answer

Place an extended hold on the entire amount due to the 'new account' status.

Answer

Regulation CC allows for special exceptions on new accounts (open for less than 30 days). For most check deposits, the bank can place a hold on the funds beyond the standard schedule, though specific amounts for certain check types (like government checks) must still be made available sooner.

Question 5

To maintain security and accountability in cash handling, which of the following is considered a best practice?

Accepted Answer

Assigning a unique cash drawer to each teller for their shift.

Answer

Assigning an individual cash drawer to each teller ensures that one person is solely responsible for the funds within it. This practice, known as individual accountability, is crucial for tracking discrepancies and minimizing potential losses.

CBT - Certified Bank Teller Practice Test

CBT - Certified Bank Teller Practice Test

Free CBT Cash Handling and Transactions Questions and Answers