Finra
A Suspicious Activity Report (SAR) must be filed for transactions involving potential illegal activity when the amount is:
A SAR must be filed for transactions of $5,000 or more that involve potential illegal activity, such as money laundering or fraud. CTRs (Currency Transaction Reports) are filed for cash transactions over $10,000, which i
Complete Analysis & Legal Rationale
A SAR must be filed for transactions of $5,000 or more that involve potential illegal activity, such as money laundering or fraud. CTRs (Currency Transaction Reports) are filed for cash transactions over $10,000, which is a separate reporting requirement.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
Does not match the governing concept in the explanation.
Matches the verified teaching point in the explanation.
Does not match the governing concept in the explanation.
Does not match the governing concept in the explanation.
Official Standard: Requires AML programs consistent with Bank Secrecy Act obligations (verify current text).
Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA Series 7 outline.