Most Recent American Bankers Association CRCM Exam Dumps

Prepare for the American Bankers Association Certified Regulatory Compliance Manager exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the American Bankers Association CRCM exam and achieve success.

The questions for CRCM were last updated on Feb 18, 2025.

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Question No. 1

Debt Cancellation Contracts and Debt Suspension Agreements coverage includes:

ANational banks that issue debt cancellation contracts and debt suspension agreements with borrowers in connection with loans for personal, family, or household purposes

BA national bank may not engage in any practice, including advertising, which would cause a reasonable person to be misled with respect to DSAs and DCCs

CA bank must provide the long-form disclosures in writing before the customer completes the purchase of a contract. If the solicitation occurs in person, the long-form disclosures must be provided at that time

DA bank must make the short-form disclosures orally at the time the bank first solicits the contract

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Correct Answer: A

Question No. 2

By presentation or transmission of an item a Reserve Bank warrants to a subsequent collecting bank and paying bank that:

AThe Reserve Bank has good title to the item

BThe item has not been altered

CThe item bears all endorsements applied by parties that have previously handled the item in paper or electronic form

DAll of these

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Correct Answer: D

Question No. 3

Bank A offers safe deposit services in a vault area that contains a door too narrow for wheelchair passage. The bank cannot widen the door because of the vault construction. Therefore, when a customer in a wheelchair needs access to a safe deposit box the customer cannot enter the vault. The bank provides viewing rooms for all safe deposit customers, and one of these rooms has a door wide enough for a disabled customer to enter. Which of the following must the bank do to provide safe deposit box service to wheelchair customers?

ARemove the old vault and install a new vault to allow wheelchair access

BConstruct an alternative facility in which to store the safe deposit boxes of wheelchair customers

CRequire wheelchair customers to be accompanied by a walking individual to retrieve the safe deposit box for the customer

DBring the safe deposit box to the customer and provide an accessible area where the customer may privately have access to the contents

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Correct Answer: D

Question No. 4

On which of the following loans must a bank maintain records under the Bank Secrecy Act?

AAll loans exceeding $5,000 and secured by real property

BAll loans exceeding $5,000, but not secured by real property

CAll loans exceeding $10,000 and secured by real property

DAll loans exceeding $10,000, but not secured by real property

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Correct Answer: D

Question No. 5

A routine review of account records reveals that suspicious activity involving foreign currency has occurred in the account of one of the bank's directors. Which of the following actions should be taken FIRST?

AA SAR should be filed.

BThe bank's board of directors should discuss the account activity without the affected director being present.

CThe bank's president should meet with the affected director to discuss the account activity.

DThe bank should file a CTR, checking the box that indicates the report is for suspicious activity.

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Correct Answer: A

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