Section 11.1
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Questions and Answers

  1. Which of the following is not a step in the money laundering process?

  • Placement
  • Layering
  • Insertion (correct)
  • Integration

    • Which of the following transactions done in a single day would not cause a firm to file a Currency Transaction Report (CTR)?

  • Deposits of a series of four checks of $3,000 each (correct)
  • Twenty-two deposits of $500 cash
  • Four deposits of $3,000 cash and an outbound wired funds transaction for $10,000
  • A withdrawal of $12,000 from an account, followed by a deposit of $11,000 cash into a third-party account

    • The Office of Foreign Assets Control is a division of

  • the State Department
  • the Justice Department
  • the Treasury Department (correct)
  • the Federal Reserve Bank

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