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BSACS EXAM PREP QUESTIONS
WITH VERIFIED ANSWERS
There are three steps that criminals take when laundering money. One is
placement, the second is layering. What is the third step called? - correct-answer-
Integration
What is the fundamental part of BSA that has procedures in place that requires
the bank to identify its customers and assists the bank in monitoring both normal
and unusual activity? - correct-answer-Customer Due Diligence
Which action is part of the four basic components of BSA compliance? - correct-
answer-Providing annual training for all employees as well as the Board of
Directors
One of the reports that banks must file identifies violations or potential violations
of law to the appropriate law enforcement authorities for criminal investigation.
What is this report called? - correct-answer-Suspicious Activity Report (SAR)
At an orientation meeting for new hires, a compliance officer explained the
required elements of the bank's BSA compliance program. Assuming the bank is
BSACS EXAM PREP QUESTIONS
WITH VERIFIED ANSWERS
There are three steps that criminals take when laundering money. One is
placement, the second is layering. What is the third step called? - correct-answer-
Integration
What is the fundamental part of BSA that has procedures in place that requires
the bank to identify its customers and assists the bank in monitoring both normal
and unusual activity? - correct-answer-Customer Due Diligence
Which action is part of the four basic components of BSA compliance? - correct-
answer-Providing annual training for all employees as well as the Board of
Directors
One of the reports that banks must file identifies violations or potential violations
of law to the appropriate law enforcement authorities for criminal investigation.
What is this report called? - correct-answer-Suspicious Activity Report (SAR)
At an orientation meeting for new hires, a compliance officer explained the
required elements of the bank's BSA compliance program. Assuming the bank is
