CRCM Sample Exam| 100 questions| answers all correct

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When reviewing exemptions for continued eligibility under the Bank Secrecy Act, a review of which of the following is LEAST helpful? Correct Answer: Currency Transaction Reports (CTRs) A number of... bank customers are members of the Army Reserve and have been called to active duty for six months. Your bank's president wishes to issue a press release stating that the bank will suspend all loan payment requirements while loan holders are on duty, extend the maturity date of each loan, and permit interest to accrue at only 10% while the loan holders are on active duty. You are asked to review the press release. Which of the following statements represents the advice you should give the president? Correct Answer: Upon request, the bank must reduce the interest rate on the loans to 6% effective on the date that the service members are called to report for active duty, and remain at 6% until they are released from orders. The bank is beginning e-banking and wants to deliver a full range of consumer electronic services. The compliance manager is a member of the project team. Which of the following functions is MOST appropriate for the compliance manager during the INITIAL stages of this project? Correct Answer: Identifying the consumer protection regulatory provisions on liability and error resolution. [Show More]

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