1|Page
BSACS EXAM PREP 2025 | ACTUAL QUESTIONS
WITH DETAILED ANSWERS
What must all "transmitter financial institutions" include and send in the
transmittal order? - correct-answer-- the transmitter's name, account number, and
address;
- the identity of the transmitter's financial institution;
- the amount of the transmittal order;
- the execution date of the transmittal order; and
- the identity of the recipient's financial institution.
What transfers are excluded from the BSA funds transfer rule? - correct-answer--
transfer's of less than $3000;
- debit transfers;
- "electronic funds transfers" as defined by the EFTA, as well as any other funds
transfers made through ATM, ACH, and POS systems;
- transfers where both the originator and the beneficiary are any of the following:
(a) domestic bank; (b) a wholly-owned domestic subsidiary of a domestic bank; (c)
a domestic broker or dealer in securities; (d) a wholly-owned domestic subsidiary
of a domestic broker or dealer in securities; (e) the united states; (f) a state or
local government; (g) a federal, state, or local government agency or
instrumentality.
,2|Page
- transfers where both (1) the originator and the beneficiary are the same person,
and (2) the originator's and beneficiary's financial institution are the same
"domestic bank".
When are credit unions required to file a SAR? - correct-answer-- criminal
violations involving insider abuse in any amount
- criminal violations aggregating $5000 or more when a suspect can be identified
- criminal violations aggregating $25000 or more regardless of a potential suspect
- transactions conducted or attempted by, at, or through the bank and aggregating
$5000 or more, if the bank or affiliate knows, suspects, or has reason to suspect
that the transaction: (a) may involve potential money laundering or other illegal
activity; (b) is designed to evade the BSA or its implementing regulations; (c) has
no business or apparent lawful purpose or is not the type of transaction that the
particular customer would normally be expected to engage in, and the bank
knows of no reasonable explanation for the transaction after examining the
available facts, including the background and possible purpose of the transaction.
When would the credit union file a Marijuana Limited SAR? - correct-answer-if the
institution reasonably believes (based on CDD) that the marijuana-related
business does not violate state law or implicate one of the DOJ's enforcement
priorities.
When would the credit union file a Marijuana Priority SAR? - correct-answer-if the
institution reasonably believes (based on CDD) the business being conducted
implicates one of the DOJ enforcement priorities or violated state law.
, 3|Page
When would the credit union file a Marijuana Termination SAR? - correct-answer-
if the institution terminates a member for reasons related to its anti-money
laundering compliance program.
What is strucutring? - correct-answer-Structuring occurs when a person breaks up
a transaction for the purpose of evading the BSA reporting and recordkeeping
requirements.
How many days does BSA regulations require that a SAR be filed no later than
from the date of the initial detection of facts that may constitute a basis for filing a
SAR? - correct-answer-30
True/False: If no suspect can be identified on a SAR, the time period for filing a
SAR is extended to 60 days. - correct-answer-True
When does the time period for filing a SAR start? - correct-answer-When the
credit union, during its review or because of other factors, knows or has reason to
suspect that the activity or transactions under review meet one ore more of the
definitions of suspicious activity.
BSACS EXAM PREP 2025 | ACTUAL QUESTIONS
WITH DETAILED ANSWERS
What must all "transmitter financial institutions" include and send in the
transmittal order? - correct-answer-- the transmitter's name, account number, and
address;
- the identity of the transmitter's financial institution;
- the amount of the transmittal order;
- the execution date of the transmittal order; and
- the identity of the recipient's financial institution.
What transfers are excluded from the BSA funds transfer rule? - correct-answer--
transfer's of less than $3000;
- debit transfers;
- "electronic funds transfers" as defined by the EFTA, as well as any other funds
transfers made through ATM, ACH, and POS systems;
- transfers where both the originator and the beneficiary are any of the following:
(a) domestic bank; (b) a wholly-owned domestic subsidiary of a domestic bank; (c)
a domestic broker or dealer in securities; (d) a wholly-owned domestic subsidiary
of a domestic broker or dealer in securities; (e) the united states; (f) a state or
local government; (g) a federal, state, or local government agency or
instrumentality.
,2|Page
- transfers where both (1) the originator and the beneficiary are the same person,
and (2) the originator's and beneficiary's financial institution are the same
"domestic bank".
When are credit unions required to file a SAR? - correct-answer-- criminal
violations involving insider abuse in any amount
- criminal violations aggregating $5000 or more when a suspect can be identified
- criminal violations aggregating $25000 or more regardless of a potential suspect
- transactions conducted or attempted by, at, or through the bank and aggregating
$5000 or more, if the bank or affiliate knows, suspects, or has reason to suspect
that the transaction: (a) may involve potential money laundering or other illegal
activity; (b) is designed to evade the BSA or its implementing regulations; (c) has
no business or apparent lawful purpose or is not the type of transaction that the
particular customer would normally be expected to engage in, and the bank
knows of no reasonable explanation for the transaction after examining the
available facts, including the background and possible purpose of the transaction.
When would the credit union file a Marijuana Limited SAR? - correct-answer-if the
institution reasonably believes (based on CDD) that the marijuana-related
business does not violate state law or implicate one of the DOJ's enforcement
priorities.
When would the credit union file a Marijuana Priority SAR? - correct-answer-if the
institution reasonably believes (based on CDD) the business being conducted
implicates one of the DOJ enforcement priorities or violated state law.
, 3|Page
When would the credit union file a Marijuana Termination SAR? - correct-answer-
if the institution terminates a member for reasons related to its anti-money
laundering compliance program.
What is strucutring? - correct-answer-Structuring occurs when a person breaks up
a transaction for the purpose of evading the BSA reporting and recordkeeping
requirements.
How many days does BSA regulations require that a SAR be filed no later than
from the date of the initial detection of facts that may constitute a basis for filing a
SAR? - correct-answer-30
True/False: If no suspect can be identified on a SAR, the time period for filing a
SAR is extended to 60 days. - correct-answer-True
When does the time period for filing a SAR start? - correct-answer-When the
credit union, during its review or because of other factors, knows or has reason to
suspect that the activity or transactions under review meet one ore more of the
definitions of suspicious activity.
