American Bankers Association CRCM Exam Questions - Real Practice Questions for Guaranteed Success

Question 1

Mammoth Enterprises is a new customer to the bank. It is a wholly owned subsidiary of Mammoth Corporation. Which of the following statements, if true, would make Mammoth Enterprises an exempt customer at the bank?

AMammoth Corporation is a London corporation, trading on the London Stock Exchange.

BMammoth Corporation is a U.S. corporation with unlisted stock.

CMammoth Corporation is a U.S. corporation trading on the American Stock Exchange.

DMammoth Enterprises is a U.S. corporation primarily in the investment banking business.

Correct : C

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AMammoth Corporation is a London corporation, trading on the London Stock Exchange.

BMammoth Corporation is a U.S. corporation with unlisted stock.

CMammoth Corporation is a U.S. corporation trading on the American Stock Exchange.

DMammoth Enterprises is a U.S. corporation primarily in the investment banking business.

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Question 2

Which of the following transactions requires completion of FinCEN Form 104, a CTR?

ADeposit of checks totaling $12,000 to a checking account

BCash purchase of a cashier's check for $7,800

CCash withdrawal of $3,000 from a checking account

DCashing of a $14,000 check for a customer

Correct : D

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ADeposit of checks totaling $12,000 to a checking account

BCash purchase of a cashier's check for $7,800

CCash withdrawal of $3,000 from a checking account

DCashing of a $14,000 check for a customer

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Question 3

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

Correct : D

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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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Question 4

What should a bank's Bank Secrecy Act compliance program include?

AAll lobby notice requirements

BThe one-year record retention requirements

CDesignation of individuals responsible for day-to-day compliance

DA list of types of loans covered by the Act

Correct : C

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AAll lobby notice requirements

BThe one-year record retention requirements

CDesignation of individuals responsible for day-to-day compliance

DA list of types of loans covered by the Act

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Question 5

Which of the following countries are currently subject to the Office of Foreign Assets Control Regulations?

ANorth Korea

BJordan

CBahrain

DRussia

Correct : A

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ANorth Korea

BJordan

CBahrain

DRussia

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Master American Bankers Association CRCM Exam with Reliable Practice Questions

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