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Question 1 of 8

1. Question
BANK SECRECY ACT

A loan officer receives a $15,000 cash deposit from a borrower to be used toward a home purchase. What federal reporting requirement is triggered?
- A) A Suspicious Activity Report (SAR) must always be filed.
- B) A Cash Transaction Report (CTR) must be completed.
- C) No report is required if the borrower provides identification.
- D) The funds must be returned to the borrower.
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Question 2 of 8

2. Question
STRUCTURING

A borrower attempts to make two separate cash deposits of $6,000 on consecutive days to avoid reporting requirements. This practice is known as:
- A) Escrow management
- B) Record retention
- C) Structuring
- D) Cash reconciliation
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Question 3 of 8

3. Question
BANK SECRECY ACT

Which agency is responsible for administering the Bank Secrecy Act and Anti-Money Laundering requirements?
- A) HUD
- B) FinCEN
- C) CFPB
- D) FTC
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Question 4 of 8

4. Question
MONEY LAUNDERING

A mortgage company receives a $12,000 cash down payment from a borrower who cannot provide any verifiable source for the funds. Which concern is most applicable?
- A) RESPA violation
- B) ECOA violation
- C) Potential money laundering activity
- D) Predatory lending
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Question 5 of 8

5. Question
SUSPICIOUS ACTIVITY REPORT

The primary purpose of a Suspicious Activity Report (SAR) is to:
- A) Document appraisal deficiencies
- B) Report suspicious financial activity
- C) Verify borrower income
- D) Calculate debt-to-income ratios
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Question 6 of 8

6. Question
CASH TRANSACTION REPORT

A lender believes a $25,000 cash transaction is legitimate because the customer is well known to the institution. What should the lender do?
- A) Waive reporting requirements.
- B) Report the transaction only if requested by FinCEN.
- C) Complete the required CTR.
- D) Require the borrower to convert the cash to a cashier's check.
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Question 7 of 8

7. Question
MONEY LAUNDERING CONTROL ACT

Which statement best describes the Money Laundering Control Act of 1986?
- A) It established the CFPB.
- B) It made money laundering a federal crime.
- C) It regulates mortgage advertising.
- D) It created the SAFE Act.
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Question 8 of 8

8. Question
STRUCTURING

A bank employee knowingly assists a customer in avoiding CTR filing requirements by splitting a $20,000 cash transaction into several smaller deposits. Which law may be violated?
- A) Truth in Lending Act
- B) Fair Credit Reporting Act
- C) Money Laundering Control Act
- D) Equal Credit Opportunity Act
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