Practice Quiz

FINRA Series 6

Category - Series 6

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A broker-dealer is required to file a Currency Transaction Report with the Treasury Department for:
  1. any transaction exceeding $10,000 in value.
  2. any cash transaction exceeding $10,000.
  3. any cash transaction exceeding $3,000.
  4. any transaction exceeding $5,000.
Explanation
Answer: B - A broker dealer is required to file a Currency Transaction Report with the Treasury Department for any cash transaction exceeding $10,000. The report does not need to be filed if the transaction simply has a market value of $10,000, but does not involve cash (aka, currency.)
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