Financial Industry Regulatory Authority (FINRA) Practice Exam 2025 - Free FINRA Practice Questions and Study Guide

When a firm receives cash exceeding $10,000 from a single customer within one business day, it is required to file a Currency Transaction Report (CTR). This requirement is part of the Bank Secrecy Act (BSA) regulations aimed at preventing money laundering and other financial crimes. The CTR provides regulatory authorities with important information regarding large cash transactions, allowing them to monitor for potentially illicit activities.

The filing of the CTR is mandated specifically to ensure that large cash transactions are documented and reviewed. This is an important step for financial institutions to comply with federal regulations designed to combat money laundering and other illegal financial activities.

Other actions, while potentially relevant in different contexts, do not address the specific regulatory requirement triggered by the receipt of cash over the threshold amount. The requirement to file a CTR reflects the need for transparency and scrutiny in cash transactions of significant size.