quickdinero module 2 quiz

1. Who must register?a) Every business that meets the definition

of an MSBb) A business that is an MSB solely because

it serves as an agent of another MSBc) The U.S. Postal Service and agencies of

the U.S., of any State, or of any political subdivision of any State.

d) A business that is an MSB solely as an issuer, seller, or redeemer of stored value;

2. Which MSBs are required to file an SAR?

a) a. Currency dealers or exchangers;b) b. Issuers, sellers, or redeemers of money

orders;c) c. MSBs serving as money transmitters;d) d. All of the above

3. MSBs must log certain information on the sale of monetary instruments from _______-_______.

a) $1,000-$5,000b) $5,000-$10,000c) $6,000-$12,000d) $3,000-$10,000

True or False1. MSBs that are required to register must

prepare and maintain a list of their agents2. A funds transfer means that MSBs must

maintain certain records for each currency exchange in excess of $1,000.

3. Some MSBs are required to develop and implement an AML compliance program as required by the USA Patriot Act in Section 352

4. Records must be retained and accessible for five years.

5. A currency exchange record means the MSBs must maintain certain information for funds transfers of $3,000 or more, regardless of payment method.