In Which of the Following Cases Is a Bank Obliged

question 49

Multiple Choice

In which of the following cases is a bank obliged to file a Currency Transaction Report (CTR) with the Internal Revenue Service?

• A) The bank receives instructions from a customer to certify an ordinary check worth $10,000 issued in a foreigner's name.
• B) The bank receives an ordinary check worth $13,000 payable to a customer's checking account.
• C) A customer deposits $20,000 through a cashier's check in his or her checking account.
• D) A customer issues stop-payment instructions on a check worth $15,000 issued to a payee.

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Definitions:

Schools

Institutions dedicated to the education and development of students through structured courses, curricula, and social interaction.

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief, behavior, or reasoning.

Limitations

Constraints or restrictions that limit the scope, effectiveness, or applicability of something.

Punishment

A method used to reduce or eliminate undesired behaviors by applying adverse consequences or removing positive stimuli.