American Bankers Association Exam CRCM Topic 4 Question 101 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 101
Topic #: 4

First National Bank has several exempt customers.

* Alpha is an exempt person because its stock is listed on a major stock exchange.

* Beta is an exempt person because it meets the nonlisted customer requirements.

* Zeta is exempt because it is a payroll customer. For which customer(s) must the bank conduct an annual review to determine its continuing eligibility to be exempt from CTR filings?

AAlpha

BBeta

CZeta

DBeta and Zeta

Show Suggested Answer

Suggested Answer: D

by Tricia at Sep 14, 2024, 04:49 AM

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Fannie

3 months ago

I'm going with B) and C) on this one. Beta and Zeta both need the annual review to maintain their exempt status. Can't be cutting corners when it comes to those CTR filings, am I right?

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Tula

2 months ago

It's important to stay compliant with regulations.

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Cecil

2 months ago

Definitely, can't risk any issues with CTR filings.

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Kenda

2 months ago

I agree, Beta and Zeta both need that annual review.

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Okay, let's think this through. Alpha is exempt because they're listed on a major exchange, so no need to review them. Beta meets the nonlisted customer requirements, so they'll need the annual review. And Zeta's exempt because they're a payroll customer, so they'll need it too. Gotta love these banking regulations, am I right?

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Tamera

3 months ago

I'm not sure about that. I think only Zeta needs to be reviewed annually.

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Haydee

3 months ago

Haha, looks like Zeta's got it easy! Just being a payroll customer gets them an automatic pass. I wonder if they'll throw a pizza party for the bank employees every year instead of a review.

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Fallon

2 months ago

Beta and Zeta must conduct an annual review.

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Alishia

2 months ago

Zeta must conduct an annual review.

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Freeman

2 months ago

Beta must conduct an annual review.

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Lashawnda

2 months ago

Alpha must conduct an annual review.

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Jimmie

3 months ago

I agree with Chanel. Beta and Zeta need to be reviewed annually to maintain their exempt status.

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Chanel

3 months ago

I think the bank must conduct an annual review for Beta and Zeta.

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American Bankers Association Exam CRCM Topic 4 Question 101 Discussion

Contribute your Thoughts:

Fannie

Tula

Cecil

Kenda

Juliann

Tamera

Haydee

Fallon

Alishia

Freeman

Lashawnda

Jimmie

Chanel