American Bankers Association Exam CRCM Topic 1 Question 62 Discussion

Actual exam question for American Bankers Association's Certified Regulatory Compliance Manager exam

Question #: 62
Topic #: 1

[All Certified Regulatory Compliance Manager Questions]

ACME Bank has a separate page on its Web site where it describes insurance products, such as life insurance and health and disability insurance. The page invites consumers to call the bank officer in charge of selling these products.The Web site's lending page also describes consumer loans and uses the following phrase: ''Have peace of mind---credit life and disability insurance are available on all consumer loans to qualified borrowers.'' Neither the insurance page nor the lending page mentions insured deposits. What does ACME need to do to make sure its Web site is in compliance?

ANothing. As long as the insurance products are segregated, the Web site is in compliance.

BPlace the advertising disclosures (not a deposit, not insured by the FDIC, and so on) on the insurance page.

CPlace the advertising disclosures on both the Web site's insurance page and its lending page.

DCreate a separate Web site for all insurance products.

Show Suggested Answer

Suggested Answer: C

by Carey at Dec 07, 2022, 06:34 PM

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