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Finra Series-6 Exam - Topic 1 Question 44 Discussion

Actual exam question for Finra's Series-6 exam

Question #: 44
Topic #: 1

[All Series-6 Questions]

A broker-dealer is required to file a Currency Transaction Report with the Treasury Department for:

Aany transaction exceeding $10,000 in value.

Bany cash transaction exceeding $10,000.

Cany cash transaction exceeding $3,000.

Dany transaction exceeding $5,000.

Show Suggested Answer

Suggested 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.)

by Mitsue at Jun 26, 2022, 10:15 PM

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Minna

10 months ago

Agreed, B is the right answer!

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Staci

10 months ago

I thought it was $5,000, but I guess I was wrong.

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Erasmo

10 months ago

Wait, is it really just cash? Sounds too simple.

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Carmelina

11 months ago

Definitely B, cash only.

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Gail

11 months ago

It's $10,000 for cash transactions!

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Phil

11 months ago

I feel like I saw something about $3,000 in another practice question, but I think that was for a different report. I’ll stick with B for this one.

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Chau

11 months ago

I’m a bit confused; I thought it was any transaction over $10,000, but now I’m second-guessing if it has to be cash.

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Letha

11 months ago

I remember practicing a question like this, and I think it was about cash transactions over $10,000 too. So I’d go with B.

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Gracia

11 months ago

I think it's option B, but I’m not completely sure if it’s specifically about cash transactions or just any transaction over $10,000.

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Jerry

11 months ago

This looks like a straightforward question about online advertising. I'll carefully read the options and think about the meaning of "retargeting" to determine the correct answer.

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Lachelle

11 months ago

This seems like a straightforward question about the key elements of a software contract. I'll focus on identifying the obligations of each party and when they need to be fulfilled.

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Fausto

11 months ago

Okay, I've got this. Ethernet uses CSMA/CD to avoid collisions, and it supports different media types. I'll select those.

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