CBT - Certified Bank Teller Cash Handling and Transactions Questions and Answers — Questions and Answers
Question 1: A customer makes a cash deposit of $6,000 in the morning and returns in the afternoon to deposit another $5,000 in cash. According to the Bank Secrecy Act (BSA), which of the following actions must the teller take?
- File a Suspicious Activity Report (SAR) because the transactions are structured to avoid reporting.
- File a Currency Transaction Report (CTR) because the total cash amount for the day exceeds $10,000. (Correct answer)
- Inform the customer they cannot make the second deposit until the next business day.
- Process the second transaction as usual with no special reporting required.
Correct answer: File a Currency Transaction Report (CTR) because the total cash amount for the day exceeds $10,000.
The Bank Secrecy Act (BSA) requires financial institutions to file a Currency Transaction Report (CTR) for cash transactions exceeding $10,000 in a single business day. Multiple cash transactions by the same person in the same day must be aggregated. Since the customer's total cash deposits equal $11,000, a CTR is mandatory.
Question 2: When verifying the authenticity of a U.S. $20 bill, which security feature should a teller look for when holding the note up to a light source?
- A color-shifting numeral '20' in the bottom right corner.
- A 3D security ribbon woven into the paper.
- A faint watermark of Andrew Jackson's portrait. (Correct answer)
- Red and blue fibers embedded throughout the paper.
Correct answer: A faint watermark of Andrew Jackson's portrait.
Modern U.S. currency contains specific security features to deter counterfeiting. When a genuine bill is held to a light source, a watermark image of the historical figure (in this case, Andrew Jackson for the $20 bill) becomes visible from both sides. The color-shifting ink is checked by tilting the note, and the 3D security ribbon is a feature of the $100 bill. While red and blue fibers are present, the watermark is the key feature to check using a light source.
Question 3: A customer presents a large, complex deposit with multiple checks and large amounts of cash right before closing time. The teller feels rushed and is unable to verify every item immediately. What is the most appropriate immediate action for the teller to take?
- Ask the customer to come back the next day when there is more time.
- Accept the deposit but inform the customer that verification will occur later, and any discrepancies will be adjusted.
- Refuse the deposit because it cannot be fully verified before closing.
- Politely inform the customer of the need for proper verification and follow the bank's dual-control or end-of-day deposit procedures. (Correct answer)
Correct answer: Politely inform the customer of the need for proper verification and follow the bank's dual-control or end-of-day deposit procedures.
Accuracy and security are paramount in cash handling. Rushing a transaction increases the risk of errors. The correct procedure is to manage the customer's expectations professionally while adhering to bank policies, which often involve dual-control (having a second person verify) or specific procedures for handling transactions that require more time, ensuring the deposit is secured and accurately processed without putting the bank or teller at risk.
Question 4: Which of the following is a primary principle of cash drawer management for a bank teller?
- Keeping a high volume of cash on hand to handle any potential transaction.
- Sharing a cash drawer with another teller during busy periods for efficiency.
- Maintaining sole responsibility for their assigned cash drawer and keeping it locked when away. (Correct answer)
- Balancing the drawer only at the end of the week to save time.
Correct answer: Maintaining sole responsibility for their assigned cash drawer and keeping it locked when away.
A fundamental security and accuracy procedure in banking is that each teller is solely responsible for their own cash drawer. The drawer should be balanced at the end of each shift, and it must be secured (locked) whenever the teller steps away to prevent unauthorized access and maintain accountability.
Question 5: A teller is processing a withdrawal for a customer and counts out the money. What is the best practice for disbursing the cash to the customer to prevent disputes?
- Hand the stack of bills directly to the customer after counting it once.
- Place the money on the counter and have the customer count it themselves.
- Count the bills a second time, out loud, in full view of the customer before handing them over. (Correct answer)
- Slide the money through the window slot immediately after the first count to speed up the transaction.
Correct answer: Count the bills a second time, out loud, in full view of the customer before handing them over.
To ensure accuracy and prevent misunderstandings or disputes, the best practice is to count the money twice. The second count should be performed clearly and methodically in front of the customer, often stating the denominations aloud. This confirms the amount for both the teller and the customer, reducing the chance of error or claims of being short-changed.
Question 6: During a transaction, a teller receives a bill that feels unusual and lacks the distinctive texture of genuine currency. What is the recommended first step?
- Immediately confiscate the bill and detain the customer for questioning.
- Return the bill to the customer and ask for a different one.
- Quietly complete the transaction and report the customer to security afterward.
- Politely delay the transaction and discreetly follow the bank's protocol for suspected counterfeit currency, which typically involves notifying a supervisor. (Correct answer)
Correct answer: Politely delay the transaction and discreetly follow the bank's protocol for suspected counterfeit currency, which typically involves notifying a supervisor.
When a counterfeit note is suspected, tellers must follow bank security procedures without causing alarm or accusing the customer, who may be an innocent victim. The standard procedure is to avoid returning the suspicious note to circulation, politely stall the transaction, and discreetly alert a supervisor or manager who can then take the appropriate steps, such as further examination and contacting law enforcement if necessary.
CBT - Certified Bank Teller Cash Handling and Transactions Questions and Answers
A customer makes a cash deposit of $6,000 in the morning and returns in the afternoon to deposit another $5,000 in cash.
According to the Bank Secrecy Act (BSA), which of the following actions must the teller take?