CBT Cash Handling & Transactions 2 — Questions and Answers
Question 1: A standard full strap of $20 bills contains 100 notes. What is its total value?
- $5,000
- $2,000 (Correct answer)
- $10,000
- $1,000
Correct answer: $2,000
100 notes x $20 = $2,000 per strap.
Question 2: How much is a standard roll of quarters worth?
- $20.00
- $2.00
- $5.00
- $10.00 (Correct answer)
Correct answer: $10.00
A standard quarter roll holds 40 coins, totaling $10.00.
Question 3: A customer deposits $9,000 cash in the morning and returns that afternoon with $2,000 more cash for the same account. What must the teller do?
- File a Currency Transaction Report because the day's cash exceeds $10,000 (Correct answer)
- Ask the customer to return tomorrow
- Refuse the second deposit
- Nothing, since each deposit is under $10,000
Correct answer: File a Currency Transaction Report because the day's cash exceeds $10,000
Multiple cash transactions by or for the same person in one business day are aggregated, and over $10,000 requires a CTR.
Question 4: A customer offers a torn $50 bill with clearly more than half of the note remaining. How should the teller generally handle it?
- Exchange it at face value under the bank's procedures (Correct answer)
- Pay the customer half its value
- Refuse it and send the customer to the Treasury
- Confiscate it as counterfeit
Correct answer: Exchange it at face value under the bank's procedures
Notes with more than half remaining can generally be exchanged at banks; mutilated notes with half or less go to the Bureau of Engraving and Printing.
Question 5: When paying out cash to a customer, what is the recommended practice?
- Count the cash to yourself, then count it again in front of the customer (Correct answer)
- Let the customer count it while you serve the next person
- Count only the large bills aloud
- Hand the money over in one stack without counting
Correct answer: Count the cash to yourself, then count it again in front of the customer
Counting twice, once privately and once back to the customer, prevents errors and disputes.
Question 6: A check shows $150.00 in the numeric box but "One hundred fifty-one and 00/100" on the written line. Which amount generally governs?
- The written (legal) amount (Correct answer)
- Neither; the check must be refused
- The smaller of the two
- The numeric amount
Correct answer: The written (legal) amount
Under the UCC, words prevail over numbers when they conflict.
Question 7: Why are teller cash drawers kept under a set maximum limit?
- To meet a Federal Reserve requirement for every teller
- To limit potential loss from robbery or theft (Correct answer)
- To make balancing faster
- To prevent customers from making large withdrawals
Correct answer: To limit potential loss from robbery or theft
Drawer limits reduce exposure to loss, so excess cash is sold to the vault.
