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American Bankers Association CRCM Exam - Topic 1 Question 126 Discussion

When returning items to a Reserve Bank, the paying and returning banks:
A) Cannot disclaim the warranties, authorizations, and agreements whether or not the returned check bears an endorsement of the paying bank or returning bank and B) Authorize the Reserve Bank to handle the item in accordance with Regulation J and the operating circulars and C) Warrant that the check bears all endorsements applied by all parties that handled the check in paper or electronic form
D) will not be liable for the failure of a paying bank, collecting bank, or a nonbank payer to pay for an item

American Bankers Association CRCM Exam - Topic 1 Question 126 Discussion

Actual exam question for American Bankers Association's CRCM exam
Question #: 126
Topic #: 1
[All CRCM Questions]

When returning items to a Reserve Bank, the paying and returning banks:

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Suggested Answer: A, B, C

by Farrah at May 11, 2026, 05:36 AM

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Nakisha
2 hours ago
A) is correct, they can't disclaim warranties.
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Stephaine
5 days ago
I’m leaning towards option D being true, but I remember there was some nuance about liability that we covered in class.
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Daniel
10 days ago
I remember practicing a question similar to this where we had to identify the warranties involved in check processing. I think option C is correct.
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Dewitt
16 days ago
I'm not entirely sure about option A; I feel like there might be exceptions to disclaiming warranties, but I can't recall the details.
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Brittni
2 months ago
I think option B sounds familiar because we discussed how banks need to follow specific regulations when handling returns.
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