Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

American Bankers Association CRCM Exam - Topic 1 Question 107 Discussion

As an alternative to providing a periodic statement, a financial institution holding payroll card accounts may make available:
B) An electronic history of the account that covers a period of at least 60 days preceding the time the consumer electronically accesses the account
A) The account balance, accessed through a readily available telephone line
C) A written history of account transactions, available on request that covers a period of at least 15 days preceding the date of the consumer request
D) A written history of account transactions, available on request that covers a period of at least 30 days preceding the date of the consumer request

American Bankers Association CRCM Exam - Topic 1 Question 107 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 107
Topic #: 1
[All CRCM Questions]

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

Show Suggested Answer Hide Answer
Suggested Answer: B

by Izetta at Feb 07, 2025, 02:06 PM

Limited Time Offer

25%

Off

Get Premium CRCM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Eliseo
7 months ago
A telephone line for balance? Sounds outdated!
upvoted 0 times
...
Justine
8 months ago
Totally agree with B, it makes the most sense!
upvoted 0 times
...
Ena
8 months ago
Wait, can they really only provide 15 days of history?
upvoted 0 times
...
Loreta
8 months ago
I think C is more reasonable.
upvoted 0 times
...
Virgie
8 months ago
Option B is the best choice!
upvoted 0 times
...
Bo
9 months ago
I remember discussing that account information needs to be accessible, but I can’t remember if the 15-day written history is enough.
upvoted 0 times
...
Tracie
9 months ago
I’m a bit confused about the written history options; I thought it had to be at least 30 days, but I can’t recall if it was 15 or 30 days for the request.
upvoted 0 times
...
Cletus
9 months ago
I feel like we practiced a question similar to this, and I think the electronic history option might be the best choice since it covers 60 days.
upvoted 0 times
...
Lourdes
9 months ago
I think I remember that financial institutions can provide account balances through a phone line, but I’m not sure if that’s the only option.
upvoted 0 times
...
Lamonica
9 months ago
I feel pretty confident about this question. The options seem clear, and I think I know the right answer based on my understanding of the regulations around payroll card accounts. I'll double-check, but I'm leaning towards one of the choices.
upvoted 0 times
...
Alisha
9 months ago
This is a tricky one. I want to make sure I fully understand the requirements before answering. Maybe I'll jot down some notes to help me think it through.
upvoted 0 times
...
Toi
9 months ago
Okay, I think I've got this. The key is that the financial institution can provide an alternative to a periodic statement, and the options describe different ways they can do that. I'll review them closely and select the best one.
upvoted 0 times
...
Torie
9 months ago
Hmm, I'm a bit unsure about this one. The wording seems specific, so I'll need to make sure I understand the details of each option before selecting my answer.
upvoted 0 times
...
Marcelle
9 months ago
This looks like a straightforward question about the requirements for periodic statements for payroll card accounts. I'll need to carefully read through the options and think about the key details.
upvoted 0 times
...
Diane
1 year ago
Options A and C sound a bit too limited. I'm going to play it safe and choose D - a 30-day written history seems like the best compromise.
upvoted 0 times
...
Tequila
1 year ago
Ha, I bet the exam writers had a field day coming up with these options. Personally, I'm going with B - can't go wrong with 60 days of electronic history!
upvoted 0 times
Freeman
1 year ago
Yeah, it's always good to have a longer period of account history available.
upvoted 0 times
...
Brandee
1 year ago
I think so too, having a 60-day electronic history is definitely helpful.
upvoted 0 times
...
Jean
1 year ago
I agree, option B seems like the most reliable choice.
upvoted 0 times
...
...
Rochell
1 year ago
Hmm, I'm not sure. This is a tricky one. I guess I'll go with C, since a 15-day written history is better than nothing.
upvoted 0 times
...
Val
1 year ago
I'm torn between B and D, but I think D might be the better option since a written history is more tangible than just electronic access.
upvoted 0 times
Kristeen
1 year ago
User 3: Yeah, I also think D is the way to go for better accountability.
upvoted 0 times
...
Becky
1 year ago
User 2: I agree, having a tangible record of transactions is important.
upvoted 0 times
...
Alida
1 year ago
User 1: I think D is the better option because having a written history is more reliable.
upvoted 0 times
...
...
Eleni
1 year ago
Option B seems like the most comprehensive answer, providing a detailed electronic history of the account for at least 60 days.
upvoted 0 times
Timothy
1 year ago
I think it's great that they offer such a comprehensive option.
upvoted 0 times
...
Clay
1 year ago
It's important to have access to that information when needed.
upvoted 0 times
...
Afton
1 year ago
Having a detailed electronic history for at least 60 days is really helpful.
upvoted 0 times
...
Kris
1 year ago
I agree, option B does seem like the best choice.
upvoted 0 times
...
...
Elmer
1 year ago
I'm not sure, but I think option C could also be a good choice. Having a written history of account transactions available on request for at least 15 days seems reasonable.
upvoted 0 times
...
Aron
1 year ago
I agree with Catina, because providing an electronic history of the account for at least 60 days is more convenient for consumers.
upvoted 0 times
...
Catina
1 year ago
I think the answer is B.
upvoted 0 times
...

Save Cancel