Certified Regulatory Compliance Manager (CRCM) — Question 215

First National Bank has several exempt customers.
"¢ Alpha is an exempt person because its stock is listed on a major stock exchange.
"¢ Beta is an exempt person because it meets the nonlisted customer requirements.
"¢ Zeta is exempt because it is a payroll customer. For which customer(s) must the bank conduct an annual review to determine its continuing eligibility to be exempt from CTR filings?

Answer options

• A. Alpha
• B. Beta
• C. Zeta
• D. Beta and Zeta

Correct answer: D

Explanation

The correct answer is D, as both Beta and Zeta require annual reviews to confirm their continued eligibility for exemption from CTR filings. Alpha, being an exempt person due to its stock listing, does not require such a review, making options A and C incorrect. Therefore, only Beta and Zeta need the annual review process.