Quiz for An Overview of Marijuana and Hemp Banking

Which of the following is not a red flag for an MRB?

1. True or False. The bank must file a SAR at account closing.

1. What year was the Cole Memo rescinded?

According to the Controlled Substances Act, what drug classification is marijuana?

1. True or False. Even though the Cole Memo was rescinded, banks are expected to follow the principles of the memo.

1. To be considered hemp, it must have a THC concentration lower than ______.

1. Which of the following is not a marijuana related SAR.

1. True or False. Marijuana is legal on the federal level.

1. Which of the following are recommended for customer due diligence related to MRBs.

1. True or False. Banks are required to bank MRBs.