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Which of the following customers may be exempted under Phase II of the Bank Secrecy Act?
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In April Lillian Redmond, the teller supervisor for First National Bank, discovers five counterfeit $20 bills in several teller drawers. In May and in June she discovers two additional counterfeit $20 bills. She has no knowledge of criminal activity on the part of any of the bank's employees or customers. She does not suspect any particular person in this transaction. Which of the following statements is true?
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What insurance disclosures are required in the lease disclosure statement?

Question 319 - CRCM discussion

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Walter Johnson has two accounts at First National Bank. His savings account was opened in 1975, and his money market savings account was opened in 1985.He has never supplied a TIN number to the bank. What must First National Bank do?

A.
Withhold 28 percent of the payments on each of the accounts
Answers
A.
Withhold 28 percent of the payments on each of the accounts
B.
Withhold 28 percent of the payments on each account and annually request a TIN on the savings account
Answers
B.
Withhold 28 percent of the payments on each account and annually request a TIN on the savings account
C.
Annually request a TIN on both accounts
Answers
C.
Annually request a TIN on both accounts
D.
Refuse to open future accounts without a TIN
Answers
D.
Refuse to open future accounts without a TIN
Suggested answer: B
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asked 16/09/2024
Marcos Paulo da Natividade Ferreira
35 questions
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