SIE Exam Question 665: Answer and Explanation

Question: 665

A currency transaction report (CTR) must be filed by U.S. financial institutions for each deposit, withdrawal, exchange of currency, or other payment to the institution which involves a transaction in currency of more than:

• A. $5,000.
• B. $10,000.
• C. $25,000.
• D. $50,000.

Correct Answer: B

Explanation:

A currency transaction report (CTR) must be filed by U.S. financial institutions for each deposit, withdrawal, exchange of currency, or other payment to the institution which involves a transaction in currency of more than $10,000.