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 May 6, 2025.

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Question No. 1

Which of the following factors would NOT be considered when evaluating whether specific behavior by a banker violates the statute?

AThe social and family ties of the banker

BThe standard for business amenities and entertaining in that particular part of the country

CWhether there was a demonstrable business purpose

DWhether a business transaction was consummated as a result

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Correct Answer: D

Question No. 2

The BSA officer has just been notified by the chief operations officer that, due to a glitch in the bank's OFAC interdiction software, wires have been regularly transmitted to a bank on the SDN list. Based on the OFAC Enforcement Guidance, what should the BSA Officer do FIRST to attempt to mitigate any penalties?

AReview the OFAC wire policies and procedures to determine how the errors occurred

BStop and hold all wires to the bank on the SDN list

CInvestigate the customer who sends these wires

DSelf-report the activity to OFAC

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Correct Answer: B

Question No. 3

As an alternative to providing a periodic statement, a financial institution holding payroll card accounts may make available:

AThe account balance, accessed through a readily available telephone line

BAn electronic history of the account that covers a period of at least 60 days preceding the time the consumer electronically accesses the account

CA written history of account transactions, available on request that covers a period of at least 15 days preceding the date of the consumer request

DA written history of account transactions, available on request that covers a period of at least 30 days preceding the date of the consumer request

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Correct Answer: A, B

Question No. 4

Which of the following items is considered a low-quality asset?

AAn asset in a nonaccrual status

BAn asset on which interest is past due 15 days

CAn asset that will be transferred to the workout area within the next 60 days so that the terms can be renegotiated

DNone of the above

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Correct Answer: A

Question No. 5

Which of the following elements is NOT required to be in a repurchase agreement between a bank that is a government securities dealer and a counterparty?

AA statement that the funds are not insured by the FDIC

BA list of the specific securities that are the subject of the agreement

CA provision for substitution of securities if they can be substituted

DA statement that the bank is a regulated government securities dealer

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Correct Answer: D

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