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?

Question

Quizplus · Accepted Answer

Beta and Zeta must have an annual review to determine their continuing eligibility to be exempt from CTR filings. Alpha is exempt because its stock is listed on a major stock exchange, which does not require an annual review.

First National Bank Has Several Exempt Customers